REPORTS.

SEC. 307. SECTION 4(h)(1) REPORTS. Section 4(h)(1) of the Urban Mass Transportation Act of 1964 is amended to read as follows: “(h) Quarterly Reports.—(1) Not later than 30 days after the last day of each calendar quarter, the Secretary shall transmit to the Committee on Public Works and Transportation and the Committee on Appropriations of the House of Representatives and to the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate a report on— “(A) obligations, commitments, and reservations by State, designated recipient, and applicant, made under authority of this Act during that quarter; “(B) the balance as of the last day of that quarter of the unobligated, uncommitted, and unreserved apportionments made under this Act; “(C) the balance of unobligated, uncommitted, and unreserved sums available for expenditure at the discretion of the Secretary under this Act as of the close of that quarter; “(D) a listing of letters of intent issued during that quarter; “(E) a status report on all letters of intent outstanding as of the close of that quarter; and “(F) a status report on the execution of grant contracts and the establishment of a letter of credit or other reimbursement authority for sums already obligated for each State, designated recipient, and applicant.”.