In the case of a grant to a recipient for a construction project under section
3149 of this title, if the Secretary determines, before closeout of the project, that the cost of the project, based on the designs and specifications that were the basis of the grant, has decreased because of decreases in costs, the Secretary may approve, without further appropriation, the use of the excess funds (or a portion of the excess funds) by the recipient—
(1)to increase the Federal share of the cost of a project under this title to the maximum percentage allowable under section
3144 of this title; or
(2)to improve the project.
(b) Other uses of excess funds
Any amount of excess funds remaining after application of subsection (a) of this section may be used by the Secretary for providing assistance under this chapter.
(c) Transferred funds
In the case of excess funds described in subsection (a) of this section in projects using funds transferred from other Federal agencies pursuant to section
3214 of this title, the Secretary shall—
(1)use the funds in accordance with subsection (a) of this section, with the approval of the originating agency; or
2009—Subsec. (d). Pub. L. 111–68struck out subsec. (d). Text read as follows: “The Comptroller General of the United States shall regularly review the implementation of this section.”
Pub. L. 111–8added subsec. (d) and struck out former subsec. (d) which required the Comptroller General to review and report on the implementation of this section.
2004—Pub. L. 108–373reenacted section catchline without change and amended text generally. Prior to amendment, text read as follows: “In any case in which a grant (including a supplementary grant described in section
3145 of this title) has been made by the Secretary under this subchapter (or made under this chapter, as in effect on the day before the effective date of the Economic Development Administration Reform Act of 1998) for a construction project, and, after the grant has been made but before completion of the project, the cost of the project based on the designs and specifications that was the basis of the grant has decreased because of decreases in costs—
“(1) the Secretary may approve, subject to the availability of appropriations, the use of the excess funds or a portion of the funds to improve the project; and
“(2) any amount of excess funds remaining after application of paragraph (1) shall be deposited in the general fund of the Treasury.”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.