A bill to provide for the preservation and restoration of historic buildings and structures at historically black colleges and universities.

Amends the Omnibus Parks and Public Lands Management Act of 1996 to direct the Secretary of the Interior, acting through the Director of the National Park Service, to establish a program to preserve and restore historic buildings and structures at historically black colleges and universities (institutions).

Requires the Secretary, through the National Trust for Historic Preservation, to: (1) assess all such buildings and structures; (2) obtain an independent estimate of the complete cost of restoring them; and (3) determine the fiscal capacity of each institution to complete the restoration.

Instructs the Secretary: (1) to award up to 15 grants each fiscal year to pay the Federal share of the cost of restoring such buildings and structures; and (2) in awarding such grants, to consider the relative severity of the threat to such a building's or structure's historic value and status.

Requires grant recipients to agree to provide the non-Federal share and, for a period specified by the Secretary, to: (1) make no alteration to the building or structure without the Secretary's approval; (2) allow public access to the restored building or structure for interpretive and educational purposes; and (3) not receive other funds under the National Historic Preservation Act.

Requires the non-Federal share of a project's cost to be 30 percent. Waives such non-Federal share for an institution that does not have an endowment or that has an endowment of under $50 million. Applies such waiver to any grant provided to an institution after November 12, 1996.