Sec. 4. Grant program
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/bill/114/hr/1359/ih/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary is authorized to award grants, on a competitive basis, to eligible entities to enable such eligible entities to establish and administer American Dream Accounts for a group of low-income students. From the amounts appropriated each fiscal year to carry out this Act, the Secretary shall reserve not more than 5 percent of such amount to carry out the evaluation activities described in section 7. A grant awarded under this Act shall be for a period of not more than 3 years.
The Secretary may extend such grant for an additional 2-year period if the Secretary determines that the eligible entity has demonstrated significant progress, based on the factors described in section 5(b)(11).