Hurricane Hugo and Loma Prieta Earthquake Emergency Relief Act

Hurricane Hugo and Loma Prieta Earthquake Emergency Relief Act - Title I: Highway Emergency Assistance Program - Authorizes $1,000,000,000 in additional appropriations out of the Highway Trust Fund to the emergency relief fund for FY 1990 for the repair or reconstruction of highways, roads, and trails damaged from natural disasters or catastrophic failures within the United States. (Provides that obligations incurred and expenditures made from such funds shall not be charged against the Budget Act, the Gramm-Rudman-Hollings Act, or other ceilings.)

Waives limitations on emergency relief fund expenditures and obligations with respect to projects resulting from Hurricane Hugo or the Loma Prieta Earthquake of 1989. Specifies that the Federal share of any such project on the interstate and Federal-aid highway systems shall be 100 percent of the costs incurred within 180 days of each such natural disaster.

Makes projects on the San Francisco-Oakland Bay Bridge in California resulting from such earthquake eligible for emergency relief funds, provided the Governor of California certifies in writing to the Secretary of Transportation that the State has established and will maintain insurance or other evidence of financial responsibility for damages to, or destruction of, such bridge resulting from earthquakes.

Specifies that allocations for emergency relief for highways, roads, and trails for projects resulting from Hugo or Loma Prieta shall be excluded for purposes of provisions regarding the allocation of funds for interstate and Federal-aid highway programs among the States.

Requires the Secretary of Transportation to provide at least two technicians from the Federal Highway Administration to assist in repairing and reconstructing portions of the Federal-aid highway system in the Virgin Islands damaged or destroyed as a result of Hugo.

Requires: (1) the Secretary of Transportation to transmit to the Congress a report on the adequacy of current Federal and State standards in areas which are likely to be subject to earthquakes for ensuring that highway, mass transit, and airport construction projects will withstand earthquakes; and (2) the Comptroller General to transmit to the Congress a report on the reasons for the failure of the Cyprus Street segment of Interstate Route I-880 and the San Francisco-Oakland Bay Bridge on Interstate Route I-80.

Title II: Federal Emergency Management Agency and Other Emergency Assistance Programs - Directs the Chief of Engineers of the Corps of Engineers, upon request of the appropriate Governor, to: (1) provide assistance to the Virgin Islands in carrying out any project for repair, restoration, reconstruction, or replacement of any facility eligible for assistance under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (Stafford Act) with respect to damages resulting from Hugo; and (2) restore beaches in the Virgin Islands and Puerto Rico damaged by Hugo. Specifies the Federal share of the costs of such projects.

Increases the maximum amount which may be allotted under the Flood Control Act of 1948 for the flood control project for Savan Gut, Virgin Islands.

Provides for the reimbursement of the Administrator of General Services of expenses incurred for repair, restoration, reconstruction, or replacement of any public building damaged or destroyed by Hugo or Loma Prieta, and for relocating Federal employees.

Requires the President to suspend and, for reasons of economic hardship, waive provisions of the Flood Disaster Protection Act of 1973 relating to coverage of flood insurance for approval of Federal financial assistance with regard to grants to individuals or families adversely affected by Hugo under the Stafford Act. Permits Federal assistance under such Act to be provided with respect to damages incurred as a result of Hugo or Loma Prieta by a nonprofit educational institution without regard to whether State assistance may be provided with respect to such damages.