(a) In general

In the case of a flood risk management or coastal storm risk management project in a region of moderate or high seismic hazard, for the purpose of a benefit-cost analysis for the project, the Secretary shall not include in that analysis any additional design and construction costs resulting from addressing seismic concerns.

(b) Savings provision

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Except with respect to the benefit-cost analysis, the additional costs referred to in subsection (a) shall be—

(1) included in the total project cost; and

(2) subject to cost-share requirements otherwise applicable to the project.