Sec. 3. Increase in Federal share
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Section 204 of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3144 ) is amended— in subsection (a)(1), by striking 50 and inserting 60 ; and in subsection (c)— by striking paragraph
(2)and inserting the following: In the case of a grant to a State, or a political subdivision of a State, that the Secretary determines has exhausted the effective taxing and borrowing capacity of the State or political subdivision or can otherwise document that no local matching funds are reasonably obtainable, or in the case of a grant to a nonprofit organization that the Secretary determines has exhausted the effective borrowing capacity of the nonprofit organization, the Secretary may increase the Federal share above the percentage specified in subsection
(a)up to 100 percent of the cost of the project. ; and by adding at the end the following: In the case of a grant to a political subdivision of a State (as described in section 3(4)(A)(iv)) that has a population of fewer than 10,000 residents, the Secretary may increase the Federal share above the percentage specified in subsection
(a)up to 100 percent of the total cost of the project. In the case of a grant under section 209(c)(2), the Federal share of the cost of a project carried out with the grant shall be 100 percent. .
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Sec. 3
Increase in Federal share
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