305.603.  Certain aid for displaced persons. — 1.  Whenever a program or project to be undertaken by a displacing agency will result in the displacement of any person from a residence or business, the head of the displacing agency shall provide for the following aid for the displaced person in addition to the compensation required for the real estate:

  (1)  Actual reasonable expenses in moving himself, his family, business, farm operation, or other personal property;

  (2)  Actual direct losses of tangible personal property as a result of moving or discontinuing a business or farm operation, but not to exceed an amount equal to the reasonable expenses that would have been required to relocate such property;

  (3)  Actual reasonable expenses in searching for a replacement business or farm; and

  (4)  Actual reasonable expenses necessary to reestablish a displaced farm, nonprofit organization, or small business at its new site, but not to exceed ten thousand dollars.

  2.  Any displaced person eligible for payments under subsection 1 of this section may elect to receive an expense and dislocation allowance under this subsection in lieu of the payments available under subsection 1 of this section.  The expense and dislocation allowance shall be determined according to criteria and a schedule established by the United States Department of Transportation.

  3.  The displacing agency may provide additional relocation payments to utility facilities which incur extraordinary costs in connection with a relocation as determined by federal law and regulations of the department of transportation.