12 2 STA T .4039PUBLIC LA W 110 – 3 7 1 —O CT. 8, 2008 ‘ ‘ (1)INGE NE RAL.—Agrantu n de rt his se c ti o n f ore xp enses incidenta l to planning and o b taining financing for a pro j ect under this section that the S ecretar y considers to be unreco v er - able fro m the proceeds of a permanent loan made to finance the project shall— ‘‘(A) not be made to an organi z ation established for profit
and ‘‘( B ) except as provided in paragraph ( 2 ) , not exceed— ‘‘(i) 50 percent of those expenses; ‘‘(ii) in the case of a project to be carried out in a county for w hich a distressed county designation is in effect under section 1 4 52 6 , 8 0 percent of those expenses; or ‘‘(iii) in the case of a project to be carried out in a county for which an at-ris k county designation is in effect under section 14526, 7 0 percent of those expenses. ’ ’. (d) T ELE COM M U N I CA T ION S AN D TEC H NOLOG Y INITIATI V E.—Sec- tion 14504 of title 40, U nited States C ode, is amended by striking subsection (b) and inserting the following
‘‘(b) L IMITATION ON AVAILA B LE AMOUNTS.— O f the cost of any activity eligible for a grant under this section, not more than— ‘‘(1) 50 percent may be provided from amounts appropriated to carry out this section; ‘‘(2) in the case of a project to be carried out in a county for which a distressed county designation is in effect under section 14526, 80 percent may be provided from amounts appro- priated to carry out this section; or ‘‘( 3 ) in the case of a project to be carried out in a county for which an at-risk county designation is in effect under section 14526, 70 percent may be provided from amounts appropriated to carry out this section.’’. (e) E NTRE P RENEURSHIP INITIATIVE.—Section 14505 of title 40, United States Code, is amended by striking subsection (c) and inserting the following: ‘‘(c) LIMITATION ON AVAILABLE AMOUNTS.—Of the cost of any activity eligible for a grant under this section, not more than— ‘‘(1) 50 percent may be provided from amounts appropriated to carry out this section; ‘‘(2) in the case of a project to be carried out in a county for which a distressed county designation is in effect under section 14526, 80 percent may be provided from amounts appro- priated to carry out this section; or ‘‘(3) in the case of a project to be carried out in a county for which an at-risk county designation is in effect under section 14526, 70 percent may be provided from amounts appropriated to carry out this section.’’. (f) R EGIONAL S K ILLS P ARTNERSHIPS.—Section 14506 of title 40, United States Code, is amended by striking subsection (d) and inserting the following: ‘‘(d) LIMITATION ON AVAILABLE AMOUNTS.—Of the cost of any activity eligible for a grant under this section, not more than— ‘‘(1) 50 percent may be provided from amounts appropriated to carry out this section; ‘‘(2) in the case of a project to be carried out in a county for which a distressed county designation is in effect under
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