Section 300. Declaration of policy

In order to assure effective discharge
  of state responsibility with respect to the provision of  adequate  mass
  transportation  services to the inhabitants of the State, the department
  may enter into an agreement with any municipal  corporation  to  pay  on
  behalf of the State a share of the project cost of any municipal project
  undertaken  in  accordance  with  the provisions of any federal grant or
  project approval received from the  Federal  Urban  Mass  Transportation
  Administration or the Federal Highway Administration.
    The  state  share  of  a  municipal  project  undertaken  with federal
  assistance from the Federal Urban Mass Transportation Administration  or
  the Federal Highway Administration may be fifteen percent of the project
  cost.
    In the event a municipal propect is undertaken with federal assistance
  as  authorized  by  the Federal Aid Highway Act of l973, and the federal
  assistance provided is less than eighty percent of the project cost, the
  state share may be increased by an amount equivalent to  the  difference
  between  the  federal  assistance  received  and  eighty  percent of the
  project cost provided, however, that the  maximum  state  share  of  any
  municipal  project  shall  not exceed twenty-five percent of the project
  cost.