; and (B) in a manner that balances the needs of urban, suburban, and rural communities. (4) Deadline Not later than 1 year after the date on which funds are made available to carry out the program for each fiscal year, the Administrator shall select projects to receive grants under the program. (g) Requirements (1) Total State limit For each fiscal year, the total amount provided under the program for projects in a single State shall not exceed 20 percent of the total amount made available to carry out the program. (2) Federal share The Federal share of the cost of a project carried out with a grant under the program shall not exceed 100 percent. (h) Regulations The Administrator may promulgate such regulations as may be necessary to carry out this section. (i) Davis-Bacon (1) In general Notwithstanding any other provision of law, all laborers and mechanics employed by contractors or subcontractors on projects carried out in whole or in part using a grant under the program shall be paid wages at rates not less than those prevailing on projects of a similar character in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code (commonly known as the Davis-Bacon Act ). (2) Authority With respect to the labor standards specified in paragraph (1), the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267