Page:United States Statutes at Large Volume 124.djvu/2600

 124 STAT. 2574 PUBLIC LAW 111–240—SEPT. 27, 2010 to apply directly to the Secretary without the State for approval to be participating municipalities. (2) TIMING REQUIREMENTS APPLICABLE TO MUNICIPALITIES APPLYING DIRECTLY.—To qualify for the special permission, a municipality of a State shall be required, within 12 months after the date of enactment of this Act, to file with the Secretary a complete application for approval by the Secretary of a State program. (3) NOTICES OF INTENT AND APPLICATIONS FROM MORE THAN 1 MUNICIPALITY.—A municipality of a State may combine with 1 or more other municipalities of that State to file a joint notice of intent to file and a joint application. (4) APPROVAL CRITERIA.—The general approval criteria in paragraphs (2) and (4) shall apply. (5) ALLOCATION TO MUNICIPALITIES.— (A) IF MORE THAN 3.—If more than 3 municipalities, or combination of municipalities as provided in paragraph (3), of a State apply for approval by the Secretary to be participating municipalities under this subsection, and the applications meet the approval criteria in paragraph (4), the Secretary shall allocate Federal funds to the 3 munici- palities with the largest populations. (B) IF 3 OR FEWER.—If 3 or fewer municipalities, or combination of municipalities as provided in paragraph (3), of a State apply for approval by the Secretary to be participating municipalities under this subsection, and the applications meet the approval criteria in paragraph (4), the Secretary shall allocate Federal funds to each applicant municipality or combination of municipalities. (6) APPORTIONMENT OF ALLOCATED AMOUNT AMONG PARTICI- PATING MUNICIPALITIES.—If the Secretary approves municipali- ties to be participating municipalities under this subsection, the Secretary shall apportion the full amount of the Federal funds that are allocated to that State to municipalities that are approved under this subsection in amounts proportionate to the population of those municipalities, based on the most recent available decennial census. (7) APPROVING STATE PROGRAMS FOR MUNICIPALITIES.—If the Secretary approves municipalities to be participating municipalities under this subsection, the Secretary shall take into account the additional considerations in section 3006(d) in making the determination under section 3005 or 3006 that the State program or programs to be implemented by the participating municipalities, including a State capital access program, is eligible for Federal contributions to, or for the account of, the State program. SEC. 3005. APPROVING STATE CAPITAL ACCESS PROGRAMS. (a) APPLICATION.—A participating State that establishes a new, or has an existing, State capital access program that meets the eligibility criteria in subsection (c) may apply to Secretary to have the State capital access program approved as eligible for Federal contributions to the reserve fund. (b) APPROVAL.—The Secretary shall approve such State capital access program as eligible for Federal contributions to the reserve fund if— 12 USC 5704. Applicability.