; (ii) a low-income community; or (iii) a community of color. (f) Applicability of Federal law Nothing in this Act shall be construed to waive the requirements of any Federal law or regulation that would otherwise apply to a project that receives funds under this section. 202. Compliance with Davis-Bacon Act (a) In general All laborers and mechanics employed by contractors and subcontractors on projects funded directly by, or assisted in whole or in part by and through, the Fund shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of part A of title 40, United States Code. (b) Labor standards With respect to the labor standards described in this section, the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267