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in accordance with a plan described in paragraph 
(1). 
‘‘(4) REPORTS.— 
‘‘(A) PROJECT BASELINE.—Before the date 
of completion of a project for which a grant is 
provided under the program, the eligible entity 
carrying out the project shall submit to the Sec-
retary a report providing baseline data for the 
purpose of analyzing the long-term impact of the 
project in accordance with the framework estab-
lished under paragraph (2). 
‘‘(B) UPDATED REPORT.—Not later than 6 
years after the date of completion of a project for 
which a grant is provided under the program, 
the eligible entity carrying out the project shall 
submit to the Secretary a report that compares 
the baseline data included in the report under 
subparagraph (A) to project data collected dur-
ing the period— 
‘‘(i) beginning on the date that is 5 
years after the date of completion of the 
project; and 
‘‘(ii) ending on the date on which the 
updated report is submitted. 
‘‘(h) ELIGIBLE PROJECT COSTS.—
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‘‘(1) IN GENERAL.—An eligible entity may use a 
grant provided under the program for— 
‘‘(A) development-phase activities and costs, 
including planning, feasibility analysis, revenue 
forecasting, alternatives analysis, data collection 
and analysis, environmental review and activi-
ties to support environmental review, prelimi-
nary engineering and design work, and other 
preconstruction activities, including the prepara-
tion of a data collection and post-construction 
analysis plan under subsection (g); and 
‘‘(B) construction, reconstruction, rehabili-
tation, acquisition of real property (including 
land relating to the project and improvements to 
that land), environmental mitigation (including 
projects to replace or rehabilitate culverts or re-
duce stormwater runoff for the purpose of im-
proving habitat for aquatic species), construction 
contingencies, acquisition of equipment, protec-
tion, and operational improvements directly re-
lating to the project. 
‘‘(2) INTEREST AND OTHER FINANCING COSTS.— 
The interest and other financing costs of carrying out 
any part of a project under a multiyear grant agree-
ment within a reasonable period of time shall be con-
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sidered to be an eligible project cost only if the appli-
cable eligible entity certifies to the Secretary that the 
eligible entity has demonstrated reasonable diligence 
in seeking the most favorable financing terms. 
‘‘(i) COST SHARING.— 
‘‘(1) IN GENERAL.—The total amount awarded 
for a project under the program may not exceed 60 
percent of the total eligible project costs described in 
subsection (h). 
‘‘(2) MAXIMUM FEDERAL INVOLVEMENT.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), Federal assistance other than a grant 
awarded under the program may be provided for 
a project for which a grant is awarded under the 
program. 
‘‘(B) LIMITATION.—The total amount of 
Federal assistance provided for a project for 
which a grant is awarded under the program 
shall not exceed 80 percent of the total cost of the 
project. 
‘‘(C) NON-FEDERAL SHARE.—Secured loans 
or financing provided under section 603 of title 
23 or section 22402 of this title and repaid with 
local funds or revenues shall be considered to be 
part of the local share of the cost of a project.
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‘‘(3) 
APPLICATION
TO
MULTIYEAR
AGREE-
MENTS.—Notwithstanding any other provision of this 
title, in any case in which amounts are provided 
under the program pursuant to a multiyear agree-
ment, the disbursed Federal share of the cost of the 
project may exceed the limitations described in para-
graphs (1) and (2)(B) for 1 or more years if the total 
amount of the Federal share of the cost of the project, 
once completed, does not exceed those limitations. 
‘‘(j) GRANT AGREEMENTS.— 
‘‘(1) IN GENERAL.—A project for which an eligi-
ble entity receives a multiyear grant under the pro-
gram shall be carried out in accordance with this sub-
section. 
‘‘(2) TERMS.—A multiyear grant agreement 
under this subsection shall— 
‘‘(A) establish the terms of Federal partici-
pation in the applicable project; 
‘‘(B) establish the maximum amount of 
Federal financial assistance for the project; 
‘‘(C) establish a schedule of anticipated Fed-
eral obligations for the project that provides for 
obligation of the full grant amount; 
‘‘(D) describe the period of time for com-
pleting the project, regardless of whether that pe-
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riod extends beyond the period of an authoriza-
tion; and 
‘‘(E) facilitate timely and efficient manage-
ment of the applicable project by the eligible en-
tity carrying out the project, in accordance with 
applicable law. 
‘‘(3) SPECIAL RULES.— 
‘‘(A) IN
GENERAL.—A multiyear grant 
agreement under this subsection— 
‘‘(i) shall provide for the obligation of 
an amount of available budget authority 
specified in law; 
‘‘(ii) may include a commitment, con-
tingent on amounts to be specified in law in 
advance for commitments under this para-
graph, to obligate an additional amount 
from future available budget authority spec-
ified in law; and 
‘‘(iii) shall provide that any funds dis-
bursed under the program for the project be-
fore the completion of any review required 
under the National Environmental Policy 
Act of 1969 (42 U.S.C. 4321 et seq.) may 
only cover costs associated with develop-
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ment-phase activities described in subsection 
(h)(1)(A). 
‘‘(B) CONTINGENT COMMITMENT.—A contin-
gent commitment under this paragraph is not an 
obligation of the Federal Government, including 
for purposes of section 1501 of title 31. 
‘‘(4) SINGLE-YEAR GRANTS.—The Secretary may 
only provide to an eligible entity a full grant under 
the program in a single year if all reviews required 
under the National Environmental Policy Act of 1969 
(42 U.S.C. 4321 et seq.) with respect to the applicable 
project have been completed before the receipt of any 
program funds. 
‘‘(k) CONGRESSIONAL NOTIFICATION.— 
‘‘(1) IN GENERAL.—Not later than 30 days be-
fore the date on which the Secretary publishes the se-
lection of projects to receive grants under the pro-
gram, the Secretary shall submit to the Committee on 
Commerce, Science, and Transportation of the Senate 
and the Committee on Transportation and Infrastruc-
ture of the House of Representatives a written notice 
that includes— 
‘‘(A) a list of all project applications re-
viewed by the Secretary as part of the selection 
process;