; and (4) compares the effects of using such recommended revisions and updates to the effects of applying paragraphs (1)(B) and (2)(B) of section 106(b) of the Housing and Community Development Act of 1974, as then in effect, to determine which grantees are over-subsidized or under-subsidized with respect to community development needs. 4. Applicability of new formulas or factors (a) Amendment to 1974 Act Subsection (b) of section 106 of the Housing and Community Development Act of 1974 ( 42 U.S.C. 5306(b) ) is amended by striking the subsection designation and all that follows through the end of paragraph (3) and inserting the following: (b) (1) The Secretary shall determine the amount to be allocated to each metropolitan city in accordance with the revised and updated formulas or factors set forth pursuant to section 2(b)(2) of the CDBG Modernization Act of 2024 in the report pursuant to such section 2(b). (2) The Secretary shall determine the amount to be allocated to each urban county in accordance with the revised and updated formulas or factors set forth pursuant to section 2(b)(2) of the CDBG Modernization Act of 2024 in the report pursuant to such section 2(b). (3) In determining the amount to be allocated each metropolitan city and urban county, the Secretary shall count each revised and updated formula or factor as provided in the report pursuant to section 2(b) of the CDBG Modernization Act of 2024 . . (b) Phase-In Notwithstanding any other provision of law, the Secretary shall adjust any allocations for metropolitan cities and urban counties made pursuant to section 106 of the Housing and Community Development Act of 1974 ( 42 U.S.C. 5306 ) for any of the first 5 fiscal years commencing after the date of the enactment of this Act to provide for phase-in of the effects from the amendments made by this Act and to allow such entitlement entities to adjust their budgets accordingly.