Olympic Sports Revitalization Act

Olympic Sports Revitalization Act - Amends the Ted Stevens Olympic and Amateur Sports Act to authorize the Secretary of Commerce to make grants to Former Members of Congress, a recognized District of Columbia corporation, to encourage participation by individuals under 18 years of age in the following Olympic sports: (1) women's gymnastics, fencing, field hockey, archery, badminton, team handball, synchronized swimming, and equestrian; (2) men's wrestling, tennis, gymnastics, rifle/shooting, fencing, outdoor track, swimming, skiing, ice hockey, water polo, and archery; and (3) any other Olympic sport determined by the Secretary of Education to be either an emerging sport or a sport the discontinuation of which by U.S. colleges and universities has resulted in a net decrease in the number of colleges and university teams in such sport nationwide.

Amends the Higher Education Amendments of 1992 to authorize the Secretary to provide funds to the United States Olympic Committee or the national governing body of the sport concerned for distribution to institutions of higher education for disbursement to students who: (1) participate intercollegiately in such an Olympic sport named above; and (2) are full-time students.

Amends the Higher Education Act of 1965 to: (1) require the reporting of Equity in Athletic Disclosure Act data; and (2) require institutions discontinuing or reducing funding for an intercollegiate athletic sport to notify participants and provide an internal process for the appeal of such decision.