§ 268.7 - Federal/State share and restrictions on the uses of Federal Maglev Funds.

§ 268.7 Federal/State share and restrictions on the uses of Federal Maglev Funds.

(a) Federal share. The Federal share of Full Projects Costs shall be not more than 2⁄3, with the remaining 1⁄3 paid by the grant recipient using non-Federal funds. Funds made available under STP and CMAQ are considered non-Federal funds for purposes of the matching requirement.

(b) Restrictions on the uses of Federal Maglev Funds.

(1) Federal Maglev Funds may be applied only to Eligible Project Costs;

(2) Federal Maglev Funds provided under a preconstruction planning grant may be used only for Phase II activities, and for completion of site-specific draft EIS's; see § 268.3;

(3) Federal Maglev Funds may be used to pay for only 2⁄3 of preconstruction planning costs; grant recipients are required to pay the remaining 1⁄3 of the costs with non-Federal funds; and

(4) The “prevailing wages” requirement of the Davis Bacon Act (40 U.S.C. 276a-276a-5) applies to any construction contracts under the Maglev Deployment Program.