Urban Canal Modernization Act

This bill defines "urban canals of concern" as city-area canals where failure could endanger over 100 people or cause more than $5 million in property damage. It requires the Secretary of the Interior to fund 35% of emergency maintenance costs for these high-risk canals, with local operators covering the remaining costs. Federal funding is non-reimbursable for the 35% share, but local entities must repay any additional federal funds provided. The policy applies specifically to canals previously transferred to local management under federal programs.