(a) Amounts.--Each eligible entitlement entity shall receive a minimum annual grant of $200,000 if a county; $300,000 if a city; and $50,000 if a borough, incorporated town or township.

(b) Division of insufficient funds.--In any year in which the amount of Federal funds which are available to the Commonwealth pursuant to the Housing and Community Development Act are insufficient to provide in full all of the minimum grants provided for by subsection (a), each eligible entitlement entity shall receive an annual grant which shall be equal to the sum which is obtained by multiplying the minimum grant it is authorized pursuant to subsection (a) times a fraction, the numerator of which shall be the amount of Federal money available to the class of which it is a part and the denominator of which shall be the total amount of funds which would be necessary to provide each eligible entitlement entity of the class of which it is a part with a grant in an amount in accordance with subsection (a).