Page:United States Statutes at Large Volume 112 Part 5.djvu/848

 112 STAT. 3606 PUBLIC LAW 105-393—NOV. 13, 1998 "(3) international trade, for help in economic restructuring of the communities; or "(4) fishery failures, in areas with respect to which a determination that there is a commercial fishery failure has been made under section 312(a) of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1861a(a)). " (d) DIRECT EXPENDITURE OR REDISTRIBUTION BY RECIPIENT. — "(1) IN GENERAL.— Subject to paragraph (2), an eligible recipient of a grant under this section may directly expend the grant funds or may redistribute the funds to public and private entities in the form of a grant, loan, loan guarantee, payment to reduce interest on a loan guarantee, or other appropriate assistance. "(2) LIMITATION. —Under paragraph (1), an eligible recipient may not provide any grant to a private for-profit entity. 42 USC 3150. " SEC. 210. CHANGED PROJECT CIRCUMSTANCES. "In any case in which a grant (including a supplementary grant described in section 205) has been made by the Secretary under this title (or made under this Act, as in effect on the day before the effective date of the Economic Development Administration Reform Act of 1998) for a project, and, after the grant has been made but before completion of the project, the purpose or scope of the project that was the basis of the grant is modified, the Secretary may approve, subject (except for a grant for which funds were obligated in fiscal year 1995) to the availability of appropriations, the use of grant funds for the modified project if the Secretary determines that— "(1) the modified project meets the requirements of this title and is consistent with the comprehensive economic development strategy submitted as part of the application for the grant; and "(2) the modifications are necessary to enhance economic development in the area for which the project is being carried out. 42 USC 3151. " SEC. 211. USE OF FUNDS IN PROJECTS CONSTRUCTED UNDER PRO- JECTED COST. "In any case in which a grant (including a supplementary grant described in section 205) has been made by the Secretary under this title (or made under this Act, 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. 42 USC 3152. " SEC. 212. REPORTS BY RECIPIENTS. Regulations. "(a) IN GENERAL. —Each recipient of assistance under this title shall submit reports to the Secretary at such intervals and in such manner as the Secretary shall require by regulation, except

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