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 12 2 STA T . 2 079PUBLIC LA W 110 – 2 46—J U NE 1 8, 2008 ifthe e n tit y h asr e c ei v e do ther F edera l or S tate assistance for a feasi b ility st u dy for the p ro j ect .‘ ‘ (4)LIM I TS . — ‘‘( A ) GRAN TS.— T hea m ount of a g rant under this sub - section shall not e x ceed 25 percent of the cost of the activity carried out using funds from the grant. ‘‘( B ) M A X IM U MAM O UNT O FL OAN G UARANT E ES.—The amount of a loan guaranteed under this subsection shall not exceed $ 25 ,0 00,000. ‘‘( C ) MAXIMUM AMOUNT OF C OM B INE D GRANT AND LOAN GUARANTEE.—The combined amount of a grant and loan guaranteed under this subsection shall not exceed 7 5 per- cent of the cost of the activity funded under this subsection. ‘‘(d) O UTREAC H .—The Secretary shall ensure, to the maximum extent practicable, that ade q uate outreach relating to this section is being conducted at the State and local levels. ‘‘(e) LO W ER-COST ACTI V ITIES.— ‘‘( 1 ) LIMITATION ON USE OF FUNDS.— E xcept as provided in paragraph (2), the Secretary shall use not less than 20 percent of the funds made available under subsection (g) to provide grants of $20,000 or less. ‘‘(2) EXCE P TION.—Effective beginning on J une 3 0 of each fiscal year, paragraph (1) shall not apply to funds made avail- able under subsection (g) for the fiscal year. ‘‘(f) R EPORT.— N ot later than 4 years after the date of enactment of the Food, Conservation, and Energy Act of 200 8, the Secretary shall submit to Congress a report on the implementation of this section, including the outcomes achieved by projects funded under this section. ‘‘(g) FUNDING.— ‘‘(1) MANDATOR Y FUNDING.—Of the funds of the Commodity Credit Corporation, the Secretary shall use to carry out this section, to remain available until expended— ‘‘(A) $55,000,000 for fiscal year 200 9; ‘‘(B) $ 6 0,000,000 for fiscal year 2010; ‘‘(C) $70,000,000 for fiscal year 2011; and ‘‘( D ) $70,000,000 for fiscal year 2012. ‘‘(2) AUDIT AND TECHNICAL ASSISTANCE FUNDING.— ‘‘(A) I N GENERAL.—Subject to subparagraph (B), of the funds made available for each fiscal year under paragraph (1), 4 percent shall be available to carry out subsection (b). ‘‘(B) OTHER USE.—Funds not obligated under subpara- graph (A) by April 1 of each fiscal year to carry out sub- section (b) shall become available to carry out subsection (c). ‘‘(3) DISCRETIONARY FUNDING.—In addition to any other funds made available to carry out this section, there is author- i z ed to be appropriated to carry out this section $25,000,000 for each of fiscal years 2009 through 2012. ‘ ‘ SEC.90 0 8 . BIOMA SS R ESEARC H A ND DE V E L O P MEN T . ‘‘(a) DEFINITIONS.—In this section

‘‘(1) BIOBASED PRODUCT.—The term ‘biobased product ’ means— ‘‘(A) an industrial product (including chemicals, mate- rials, and polymers) produced from biomass; or 7USC810 8 .Deadlin e. Ef fe ct i v e date.

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