(a) General rule.--Notwithstanding any other provision of law to the contrary and subject to the conditions in subsection (b), a local transportation organization as defined in 74 Pa.C.S. § 1301 (relating to definitions) which is a recipient of Federal funds for transportation purposes is permitted, at the option of its governing board, to use the “simplified acquisition procedures” of section 31 of the Office of Federal Procurement Policy Act (41 U.S.C. § 427) for procurement up to the “simplified acquisition threshold” as that term is defined in section 4 of the Office of Federal Procurement Policy Act (41 U.S.C. § 403).