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Code of Federal Regulations Title 49. Transportation § 49.268.7 Federal/State share and restrictions on the uses of Federal Maglev Funds

Current as of January 02, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 49. Transportation § 49.268.7 Federal/State share and restrictions on the uses of Federal Maglev Funds - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-49-transportation/cfr-sect-49-268-7/

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