Sec. 204. Research and development grants
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The Secretary shall, not later than 1 year after the date of the enactment of this title, establish a grant program to provide financial assistance to eligible entities. The term eligible entity in this section means a— university; private company; government agency; or collaborative partnership. Amounts awarded under this section shall be used by an eligible entity for a project that will focus on the development of— new prefabrication technologies; sustainable materials; or advanced manufacturing techniques that enhance the quality, affordability, and environmental performance of prefabricated housing.
To be eligible to receive amounts under this section, an eligible entity shall submit an application to the Secretary, at such a time and in such a manner as the Secretary may reasonably require, that describes the scope, objectives, budget, timeline, and expected outcomes of the project for which such eligible entity shall use any amounts provided under this section. Each application received by the Secretary shall be reviewed by a panel of experts, to be selected by the Secretary, who shall evaluate such applications on criteria including— innovation; feasibility; impact on affordable housing; and alignment with the goals of the programs under this title.
There is authorized to be appropriated to the Secretary $1,000,000,000 for grants under this section. Any amounts appropriated pursuant to this section shall remain available for a period of 10 years. Each eligible entity that receives amounts under this section shall submit quarterly progress reports to the Secretary detailing the— use of funds; project developments; and any challenges encountered. The Secretary shall conduct regular audits to ensure compliance with grant terms and the effective use of funds.