Page:United States Statutes at Large Volume 120.djvu/198

 PUBLIC LAW 109–171—FEB. 8, 2006

120 STAT. 167

‘‘(III) held, directly or through any subsidiary, affiliate, or trustee, a total unpaid balance of principal equal to or less than $100,000,000 on loans for which special allowances were paid under this subparagraph in the most recent quarterly payment prior to September 30, 2005.’’. (c) ELIMINATION OF EFFECTIVE DATE LIMITATION ON HIGHER TEACHER LOAN FORGIVENESS BENEFITS.— (1) TECHNICAL CLARIFICATION.—The matter preceding paragraph (1) of section 2 of the Taxpayer-Teacher Protection Act of 2004 (Public Law 108–409; 118 Stat. 2299) is amended by inserting ‘‘of the Higher Education Act of 1965’’ after ‘‘Section 438(b)(2)(B)’’. (2) AMENDMENT.—Paragraph (3) of section 3(b) of the Taxpayer-Teacher Protection Act of 2004 (20 U.S.C. 1078–10 note) is amended by striking ‘‘, and before October 1, 2005’’. (3) EFFECTIVE DATES.—The amendment made by paragraph (1) shall be effective as if enacted on October 30, 2004, and the amendment made by paragraph (2) shall be effective as if enacted on October 1, 2005. (d) COORDINATION WITH SECOND HIGHER EDUCATION EXTENSION ACT OF 2005.— (1) REPEAL.—Section 2 of the Second Higher Education Extension Act of 2005 is amended by striking subsections (b) and (c). (2) EFFECT ON AMENDMENTS.—The amendments made by subsections (a) and (c) of this section shall be effective as if the amendments made in subsections (b) and (c) of section 2 of the Second Higher Education Extension Act of 2005 had not been enacted. (e) ADDITIONAL CHANGES TO TEACHER LOAN FORGIVENESS PROVISIONS.— (1) FFEL PROVISIONS.—Section 428J (20 U.S.C. 1078–10) is amended— (A) in subsection (b)(1)(B), by inserting after ‘‘1965’’ the following: ‘‘, or meets the requirements of subsection (g)(3)’’; and (B) in subsection (g), by adding at the end the following new paragraph: ‘‘(3) PRIVATE SCHOOL TEACHERS.—An individual who is employed as a teacher in a private school and is exempt from State certification requirements (unless otherwise applicable under State law), may, in lieu of the requirement of subsection (b)(1)(B), have such employment treated as qualifying employment under this section if such individual is permitted to and does satisfy rigorous subject knowledge and skills tests by taking competency tests in the applicable grade levels and subject areas. For such purposes, the competency tests taken by such a private school teacher shall be recognized by 5 or more States for the purpose of fulfilling the highly qualified teacher requirements under section 9101 of the Elementary and Secondary Education Act of 1965, and the score achieved by such teacher on each test shall equal or exceed the average passing score of those 5 States.’’. (2) DIRECT LOAN PROVISIONS.—Section 460 (20 U.S.C. 1087j) is amended—

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20 USC 1087–1.

20 USC 1087–1 note.

20 USC 1087–1, 1078 note. Effective date. 20 USC 1087–1 note.

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