Page:United States Statutes at Large Volume 119.djvu/1485

 PUBLIC LAW 109–59—AUG. 10, 2005

119 STAT. 1467

‘‘(B) APPALACHIAN DEVELOPMENT HIGHWAYS.—The Secretary shall retain full oversight responsibilities for the design and construction of all Appalachian development highways under section 14501 of title 40. ‘‘(h) MAJOR PROJECTS.— ‘‘(1) IN GENERAL.—Notwithstanding any other provision of this section, a recipient of Federal financial assistance for a project under this title with an estimated total cost of $500,000,000 or more, and recipients for such other projects as may be identified by the Secretary, shall submit to the Secretary for each project— ‘‘(A) a project management plan; and ‘‘(B) an annual financial plan. ‘‘(2) PROJECT MANAGEMENT PLAN.—A project management plan shall document— ‘‘(A) the procedures and processes that are in effect to provide timely information to the project decisionmakers to effectively manage the scope, costs, schedules, and quality of, and the Federal requirements applicable to, the project; and ‘‘(B) the role of the agency leadership and management team in the delivery of the project. ‘‘(3) FINANCIAL PLAN.—A financial plan shall— ‘‘(A) be based on detailed estimates of the cost to complete the project; and ‘‘(B) provide for the annual submission of updates to the Secretary that are based on reasonable assumptions, as determined by the Secretary, of future increases in the cost to complete the project. ‘‘(i) OTHER PROJECTS.—A recipient of Federal financial assistance for a project under this title with an estimated total cost of $100,000,000 or more that is not covered by subsection (h) shall prepare an annual financial plan. Annual financial plans prepared under this subsection shall be made available to the Secretary for review upon the request of the Secretary.’’. (b) CONFORMING AMENDMENTS.—Section 114(a) of title 23, United States Code, is amended— (1) in the first sentence by striking ‘‘highways or portions of highways located on a Federal-aid system’’ and inserting ‘‘Federal-aid highway or a portion of a Federal-aid highway’’; and (2) by striking the second sentence and inserting ‘‘The Secretary shall have the right to conduct such inspections and take such corrective action as the Secretary determines to be appropriate.’’.

Financial plans.

SEC. 1905. TRANSPORTATION DEVELOPMENT CREDITS.

Section 120(j)(1) of title 23, United States Code, is amended— (1) by striking ‘‘A State’’ and inserting the following: ‘‘(A) IN GENERAL.—A State’’; and (2) by striking the last sentence and inserting the following: ‘‘(B) SPECIAL RULE FOR USE OF FEDERAL FUNDS.—If the public, quasi-public, or private agency has built, improved, or maintained the facility using Federal funds, the credit under this paragraph shall be reduced by a percentage equal to the percentage of the total cost of

VerDate 14-DEC-2004

13:51 Oct 26, 2006

Jkt 039194

PO 00002

Frm 00324

Fmt 6580

Sfmt 6581

E:\PUBLAW\PUBL002.119

APPS06

PsN: PUBL002

�