; and (ii) by striking subsection (d)(1)(B) and inserting subsection (d)(2) . (C) Section 117(m)(1)(B) of title 23, United States Code, is amended by striking subsection (d)(1)(A)(iii) and inserting subsection (d)(1)(C) . (b) Grant administration Section 117(b) of title 23, United States Code, is amended by adding at the end the following: (3) Grant administration The Secretary may— (A) retain not more than a total of 2 percent of the funds authorized to carry out this section for the National Surface Transportation and Innovative Finance Bureau to review applications for grants under this section; and (B) transfer portions of the funds retained under subparagraph (A) to the Administrators of the Federal Highway Administration, the Federal Railroad Administration, and the Maritime Administration to fund the award and oversight of grants provided under this section. . (c) Project requirements Section 117(g) of title 23, United States Code, is amended— (1) by redesignating paragraphs (2) through (7) as paragraphs (3) through (8), respectively; (2) by striking paragraph (1) and inserting the following: (1) the project will generate national or regional economic or mobility benefits; (2) the project will generate public benefits, including public health or safety improvements; ; and (3) by striking paragraph (7) (as so redesignated) and inserting the following: (7) a grant provided under this section will enable the project to proceed more quickly and cost-effectively than would otherwise be possible without a grant; and . (d) Public transparency Section 117(m)(1)(A) of title 23, United States Code, is amended— (1) by striking the subparagraph designation and heading and all that follows through At least 60 days in the first sentence and inserting the following: (A) Notification to Congress (i) In general Not less than 60 days