Page:United States Statutes at Large Volume 122.djvu/1213

 12 2 STA T . 11 90PUBLIC LA W 110 – 2 34—M A Y 22, 200 8‘ ‘ (A)thenumb e ra n dq ua li t yofj ob s, in c ludin g self - em p loyment, created during implementation of the regional rural in v estment strategy ‘‘( B ) the number and types of investments made in the region; ‘‘( C ) the gro w th in public, private, and nonprofit invest- ment in the human, community, and economic assets of the region; ‘‘( D ) changes in per capita income and the rate of unemployment; and ‘‘( E ) other changes in the economic environment of the region; ‘‘( 9 ) a section outlining the methodology for use in inte- grating the regional investment strategy with the economic priorities of the S tate; and ‘‘( 10 ) such other information as the Secretary determines to be appropriate . ‘‘(c) MAXIMU MAM O U NT O FGR ANT. — A regional investment strategy grant shall not e x ceed $ 1 5 0,000. ‘‘(d) CO S TS H ARIN G .— ‘‘(1) I NG E NERA L .—Subject to paragraph ( 2 ), of the share of the costs of developing, maintaining, evaluating, imple- menting, and reporting with respect to a regional investment strategy funded by a grant under this section— ‘‘(A) not more than 4 0 percent may be paid using funds from the grant; and ‘‘(B) the remaining share shall be provided by the applicable R egional Board or other eligible grantee. ‘‘(2) F ORM.—A Regional Board or other eligible grantee shall pay the share described in paragraph (1)(B) in the form of cash, services, materials, or other in- k ind contributions, on the condition that not more than 50 percent of that share is provided in the form of services, materials, and other in- kind contributions. ‘ ‘ SEC.385F . R E GIONAL INNO V A T ION GRANTS P ROGRA M . ‘‘(a) GRANTS.— ‘‘(1) IN GENERAL.— T he Secretary shall provide, on a competitive basis, regional innovation grants to Regional Boards for use in implementing projects and initiatives that are identified in a regional rural investment strategy approved under section 38 5E. ‘‘(2) TIMING.—After O ctober 1, 2008, the Secretary shall provide awards under this section on a quarterly funding cycle. ‘‘(b) ELIGI B ILIT Y .—To be eligible to receive a regional innovation grant, a Regional Board shall demonstrate to the Secretary that— ‘‘(1) the regional rural investment strategy of a Regional Board has been reviewed by the N ational Board prior to approval by the Secretary; ‘‘(2) the management and organi z ational structure of the Regional Board is sufficient to oversee grant projects, including management of Federal funds; and ‘‘(3) the Regional Board has a plan to achieve, to the maximum extent practicable, the performance-based bench- marks of the project in the regional rural investment strategy. ‘‘(c) L IMITATIONS.— 7USC20 0 9d d –5.

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