Here's a breakdown of the Homeland Security Department's grants to state and local governments, by the state formula and by the "Urban Area Security Initiative" ("high-threat" areas):

($millions)
Fiscal Year 2003
Total Grants 666
(State formula 566)
(high threat 100)

Fiscal Year 2003 Supplemental
Total Grants 2,200
(Formula 1,500)
(high threat 700)

Fiscal Year 2004
Total Grants 2,925
(Formula 2,200)
(high threat 725)

Fiscal Year 2005
Total Grants 2,700
(Formula 1,500)
(high threat 885)
(also $315 million for Mass Transit security)

Fiscal Year 2006 (as requested by DHS)
Total Grants 2,640
(Formula 1,020)
(high threat 1,020)

Fiscal Year 2006 (as passed by Congress)
Total Grants 2,945
(Formula 550)
(high threat 765)
Plus grants for:
(rail security 150)
(port security 175)
(other
infrastructure 65)
(firefighters 550)
(law-enforcement
anti-terrorist 400)
(Emergency
Mgmnt Performance Grant 185)

It's unclear—as many things about the DHS budget are unclear, perhaps deliberately—how these latter grants (rail security, etc.) are to be apportioned. One source tells me they're to be handed out according to the old, state-by-state rules—not according to risk. If that's the case, the actual "formula" grants are much more than the $550 million indicated.

Source: House Appropriations Committee mark-up document; office of Rep. Edward Markey.