Asbestos School Hazard Abatement Reauthorization Act of 1990

Asbestos School Hazard Abatement Reauthorization Act of 1990 - Amends the Asbestos School Hazard Abatement Act of 1984 to require State Governors to maintain records on asbestos in school buildings. Deletes a requirement for the submission of asbestos abatement application materials by State Governors to the Secretary of Education. Requires State Governors, in determining the adequacy of financial resources available to a local educational agency for asbestos abatement, to consider the additional costs to such agency of meeting the needs of disadvantaged students. Removes a reporting requirement concerning actions taken by State Governors in accordance with State plans.

Directs the Administrator of the Environmental Protection Agency to approve applications for financial assistance no later than April 30 of each year. Prohibits the provision of such assistance to applicants who are not in compliance with title II of the Toxic Substances Control Act. Requires the proceeds from the repayment of Federal asbestos abatement loans and assistance recovery lawsuits to be deposited into the Asbestos Trust Fund. Removes a condition on the provision of financial assistance which requires the submission of an application within five years of the enactment of the Asbestos School Hazard Abatement Act of 1984. Prohibits the approval of assistance applications unless the local educational agency certifies that it is implementing an asbestos management plan and all abatement activities will be conducted by trained and accredited individuals in conformance with the Toxic Substances Control Act.

Removes certain requirements for the promulgation by the Administrator of standards for asbestos removal contractors and the protection of school employees trained to carry out abatement activities.

Requires the Administrator to report annually (until 1999) to the Senate Committee on Environment and Public Works and the House Committee on Energy and Commerce on the loan and grant program under the Asbestos School Hazard Abatement Act of 1984.

Authorizes appropriations for the asbestos abatement program for FY 1991 through 1995.

Revises provisions concerning the allocation of appropriations. Permits up to five percent of appropriations to be reserved each fiscal year for the administration of asbestos abatement activities. Authorizes the Administrator to use up to five percent of such appropriations for grants to States for: (1) assisting local educational agencies in performing periodic reinspections and training activities; and (2) maintaining programs to accredit personnel performing asbestos inspections and response actions.

Makes conforming amendments to provisions of the Asbestos Hazard Emergency Response Act of 1986 concerning the Asbestos Trust Fund.