; and (5) administration and oversight of the program in accordance with the Corporation's rate for program administration. (e) Disbursement The Corporation shall disburse all grant funds made available pursuant to subsection (b) as expeditiously as possible, through grants to housing counseling intermediaries approved by the Department of Housing and Urban Development, State housing finance agencies, and NeighborWorks organizations. The aggregate amount provided to NeighborWorks organizations shall not exceed 15 percent of the total of grant funds made available pursuant to subsection (b). III Protecting People Experiencing Homelessness 110301. Homeless assistance funding (a) Emergency homeless assistance (1) Authorization of appropriations There is authorized to be appropriated under the Emergency Solutions Grants program under subtitle B of title IV of the McKinney-Vento Homeless Assistance Act ( 42 U.S.C. 11371 et seq.) $11,500,000,000 for grants under such subtitle in accordance with this subsection to respond to needs arising from the public health emergency relating to Coronavirus Disease 2019 (COVID-19). Of such amounts made available, $4,000,000,000 shall be allocated in accordance with sections 413 and 414 of the McKinney-Vento Homeless Assistance Act ( 42 U.S.C. 11372 , 11373). (2) Formula Notwithstanding sections 413 and 414 of the McKinney-Vento Homeless Assistance Act ( 42 U.S.C. 11372 , 11373), the Secretary of Housing and Urban Development (in this Act referred to as the Secretary ) shall allocate any amounts remaining after amounts are allocated pursuant to paragraph (1) in accordance with a formula to be established by the Secretary that takes into consideration the following factors: (A) Risk of transmission of coronavirus in a jurisdiction. (B) Whether a jurisdiction has a high number or rate of sheltered and unsheltered homeless individuals and families. (C) Economic and housing market conditions in a jurisdiction. (3) Eligible activities In addition to eligible activities under section