Sec. 2. ALLOWABLE COST STANDARDS FOR AIRPORT DEVELOPMENT PROJECTS
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## SEC. 2 ALLOWABLE COST STANDARDS FOR AIRPORT DEVELOPMENT PROJECTS ###
(a)In General Section 47110(b)(1) of title 49, United States Code, is amended— ####
(1)by striking “(1) if the cost necessarily” and inserting “(1)(A) if the cost necessarily”; ####
(2)by striking the semicolon at the end and inserting “; or”; and ####
(3)by adding at the end the following: > > ##### “(B) > > if the cost is an incentive payment incurred in carrying out the project described in subparagraph
(A)that is to be provided to a contractor upon early completion of a project, if— > > > ###### “(i) > > such payment does not exceed the lesser of 5 percent of the initial construction contract amount or $1,000,000; > > > ###### “(ii) > > the level of contractor’s control of, or access to, the worksite necessary to shorten the duration of the project does not negatively impact the operation of the airport; > > > ###### “(iii) > > the contract specifies application of the incentive structure in the event of unforeseeable, non-weather delays beyond the control of the contractor; > > > ###### “(iv) > > nothing in any agreement with the contractor prevents the airport operator from retaining responsibility for the safety, efficiency, and capacity of the airport during the execution of the grant agreement; and > > > ###### “(v) > > the Secretary determines that the use of an incentive payment is likely to increase airport capacity or efficiency or result in cost savings as a result of shortening the project’s duration;” > . ###
(b)Technical Correction Section 47110(e)(7) of title 49, United States Code, is amended in the heading by striking “Partnership Program Airports” and inserting “Partnership program airports”.