; (2) the office responsible for the implementation of the such covered upgrades; (3) the metrics being used to measure progress in implementing the covered upgrades; and (4) the status of the covered upgrades as of the date of the report. 548. Regulatory streamlining Not later than 1 year after the date of enactment of this Act, the Administrator of the Federal Aviation Administration shall issue a final regulation revising section 121.333(c)(3) of title 14, Code of Federal Regulations, to apply only to flight altitudes above flight level 410. 549. Administrative Services Franchise Fund (a) In general Not later than 30 days after the date of enactment of this section, the inspector general of the Department of Transportation shall initiate an audit of the Administrative Services Franchise Fund of the FAA (in this section referred to as the Franchise Fund ). (b) Considerations In conducting the audit pursuant to subsection (a), the inspector general shall— (1) review the history, intended purpose, and objectives of the Franchise Fund; (2) describe and assess each program, service, or activity that uses the Franchise Fund, including— (A) the agencies or government bodies that use each program, service, or activity; (B) the number of employees, including full-time equivalents and contractors, associated with each program, service, or activity; (C) the costs associated with the employees described in subparagraph (B) and the extent to which such costs are covered by Federal appropriations or Franchise Fund revenue; (D) the revenue, expenses, and profits or losses associated with each program, service, or activity; (E) overhead rates associated with each program, service, or activity; and (F) a breakdown of the revenue collected from services provided to the FAA, Department of Transportation, other Federal entities, and non-Federal entities