All laborers and mechanics employed by contractors or subcontractors on all construction and minor remodeling projects assisted under any applicable program shall be paid wages at rates not less than those prevailing on similar construction and minor remodeling in the locality as determined by the Secretary of Labor in accordance with the Davis-Bacon Act, as amended [40 U.S.C. Sec. 276a et seq.]. The Secretary of Labor shall have, with respect to the labor standards specified in this section, the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 and section 276c of title 40.
(Pub. L. 90-247, title IV, Sec. 439, formerly Sec. 423, as added Pub. L. 91-230, title IV, Sec. 401(a)(10), Apr. 13, 1970, 84 Stat. 169, and renumbered Sec. 433, Pub. L. 92-318, title III, Sec. 301(a)(1), June 23, 1972, 86 Stat. 326, renumbered Sec. 439, and amended Pub. L. 103-382, title II, Secs. 212(b)(1), 261(D), Oct. 20, 1994, 108 Stat. 3913, 3927.)