(a) A utility that is eligible for reimbursement under § 203.092 or that is eligible for reimbursement under applicable law and the policies of the department for the cost of relocating facilities required by improvement of a segment of the state highway system not subject to § 203.092 shall accomplish the relocation of the facility in a timely manner as specified in its relocation agreement with the department.
(b) The department may reduce the reimbursement to the utility by 10 percent for each 30-day period or portion of a 30-day period by which the relocation exceeds the limit specified in the relocation agreement. If the department determines that a delay in relocation is the result of circumstances beyond the control of the utility, full reimbursement shall be paid.

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(c) The time limit specified in the relocation agreement may not be less than 90 days.