Funding

(A) In general In accordance with regulations promulgated by the Secretary, the Secretary shall pay 100 percent of the costs incurred by a State agency under this chapter for switching and settling interstate transactions— (i) incurred after February 11, 2000 , and before October 1, 2002 , if the State agency uses the standard of interoperability and portability adopted by a majority of State agencies; and (ii) incurred after September 30, 2002 , if the State agency uses the uniform national standard of interoperability and portability adopted under paragraph (4)(A).

(B) Limitation The total amount paid to State agencies for each fiscal year under subparagraph (A) shall not exceed $500,000.