Directs the Administrator of the Federal Emergency Management Agency (FEMA) to: (1) establish criteria for determining whether individual temporary housing units stored by FEMA are in usable condition; (2) complete an assessment to determine the number of units FEMA needs in stock to respond appropriately to major disasters; and (3) implement a plan to store such number of units, to sell, transfer, or donate excess units in usable condition, and to dispose of units not in usable condition.

Makes the plan subject to Robert T. Stafford Disaster Relief and Emergency Assistance Act disposal requirements and other applicable law. Directs the Administrator to report to the appropriate congressional committees on the status of the distribution, sale, transfer, or other disposal of unused units. Makes any sale, transfer, donation, or disposal of a unit under the plan subject to Stafford Act disposal requirements and other applicable law, except with respect to such sale or other actions to states, other governmental entities, and voluntary organizations for the purpose of providing temporary housing to victims of incidents caused by hazards that do not result in a declaration of a major disaster or emergency by the President if the governor of the affected state certifies that there is an urgent need for the units and the state is unable to provide such units in a timely manner. Directs the Administrator to report to the appropriate congressional committees on the status of the distribution, sale, transfer, donation, or other disposal of units.

(Sec. 2) Directs the President, acting through the FEMA Administrator, in providing in lieu contributions for damages suffered in Louisiana and Mississippi as a result of Hurricanes Katrina and Rita (covered hurricane damages), to provide that the federal share of the estimated cost of repairing, restoring, reconstructing, or replacing the facility and of management expenses for both public facilities and private nonprofit facilities shall be 90%.

Authorizes and encourages the President to use alternative dispute resolution (ADR) procedures for appeals of decisions made under the Stafford Act regarding the award or denial of assistance or the amount of assistance provided to a state, local government, or owner or operator of a private facility for covered hurricane damages. Requires the President to: (1) provide to such entity written notice of a denial of a request to use ADR procedures for an appeal; and (2) submit quarterly reports to specified committees on denials, a report on how ADR procedures are being used and recommendations on whether the President should be given the authority to use such procedures on a permanent basis, and a report regarding the status of recovery for Louisiana and Mississippi from Hurricanes Katrina and Rita. Authorizes the President to use simplified procedures for covered hurricane damages if requested by such entity for a project for which the federal estimate of the cost is less than $100,000.

(Sec. 3) Authorizes the President to provide case management services or assistance under the Stafford Act for victims of any major disaster relating to Hurricanes Katrina or Rita.

(Sec. 4) Directs the Administrator to review, update, and revise the individual assistance factors considered to measure the severity, magnitude, and impact of a disaster.