90 STAT. 2256
PUBLIC LAW 94-484—OCT. 12, 1976 other owner of the facility the amount bearing the same ratio to the then value (as determined by agreement of the parties or by action brought in the United States district court for the district in which such facility is situated) of the facility, as the amount of the Federal participation bore to the cost of construction of such facility.". LOAN GUARANTEES AND INTEREST SUBSIDIES
42 USC 293i.
SEC. 306. (a) Subsections (a) and (b) of section 729 are each amended by striking out "September 30, 1977" and inserting in lieu thereof "September 30, 1980". (b) The second sentence of section 729(e) is amended by striking out "and" after "June 30, 1973," and by striking out the period at the end thereof and inserting in lieu thereof a comma and the following: "$2,000,000 in the fiscal year ending September 30, 1978, $3,000,000 in the fiscal year ending September 30, 1979, and $3,000,000 in the fiscal year ending September 30, 1980.". (c) The third sentence of section 729(a) is amended to read as follows: "N"o such loan guarantee may, except under special circumstances and under such conditions as are prescribed by regulations, apply to any amount which, when added to any grant under this part or any other law of the United States, exceeds 90 percent of the cost of the construction of the project.". (d) Subsections (a) and (b) of section 729 are each amended by inserting "or the Federal Financing Bank" after "non-Federal lender". EFFECTIVE DATE
42 use293 note. Ante, p. 2253. 42 USC 293i note.
SEC. 307. (a) The amendments made by sections 302 through 305 shall apply with respect to grants made under part B of title VII of the Public Health Service Act from appropriations under section 720 of such Act for fiscal years beginning after September 30, 1977. (b) The amendment made by section 306(c) shall apply with respect to loans guaranteed under section 729(a) of the Public Health Service Act (redesignated section 726(a) by section 308(d) of this Act) after September 30, 1977. TECHNICAL AND CONFORMING AMENDMENTS
42 USC 293a.
SEC. 308. (a) Section 721(c) is amended— (1) by striking out "section 770(f) of this Act" in paragraph (2) and inserting in lieu thereof "section 771"; (2) by striking out the sentence at the end of paragraph (2); (3) by striking out paragraph (5) and redesignating paragraphs (6) and (7) as paragraphs (5) and (6), respectively; (4) by striking out "and" at the end of paragraph (5) (as so redesignated), by striking out the period at the end of paragraph (6) (as so redesignated) and inserting in lieu thereof "; and", and by inserting after paragraph (6) the following: "(7) the application contains or is supported by adequate assurance that any laborer or mechanic employed by a contractor or subcontractors in the performance of work on the construction of the facility will be paid wages at rates not less than those prevailing on similar construction in the locality as determined by the Secretary of Labor in accordance with the Act of March 3, 1931 (40 U.S.C. 276a—276a-5, known as the Davis-Bacon Act). The Secretary of Labor shall have, with respect to the labor standards