Sec. 405. APPLICATIONS

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## SEC. 405 APPLICATIONS ###

(a)Announcement of Demonstration Projects Not later than 3 months after the date of enactment of this title, the Secretary shall publicly announce the availability of funding under this title for demonstration projects and shall ensure that applications to conduct the demonstration projects are widely available to qualified entities. ###

(b)Submission Not later than 6 months after the date of enactment of this title, a qualified entity may submit to the Secretary an application to conduct a demonstration project under this title. ###

(c)Criteria In considering whether to approve an application to conduct a demonstration project under this title, the Secretary shall assess the following: ####

(1)Sufficiency of project The degree to which the project described in the application appears likely to aid project participants in achieving economic self-sufficiency through activities requiring one or more qualified expenses. ####

(2)Administrative ability The experience and ability of the applicant to responsibly administer the project. ####

(3)Ability to assist participants The experience and ability of the applicant in recruiting, educating, and assisting project participants to increase their economic independence and general well-being through the development of assets. ####

(4)Commitment of non-federal funds The aggregate amount of direct funds from non-Federal public sector and from private sources that are formally committed to the project as matching contributions. ####

(5)Adequacy of plan for providing information for evaluation The adequacy of the plan for providing information relevant to an evaluation of the project. ####

(6)Other factors Such other factors relevant to the purposes of this title as the Secretary may specify. ###

(d)Preferences In considering an application to conduct a demonstration project under this title, the Secretary shall give preference to an application that— ####

(1)demonstrates the willingness and ability to select individuals described in section 408 who are predominantly from households in which a child (or children) is living with the child's biological or adoptive mother or father, or with the child's legal guardian; ####

(2)provides a commitment of non-Federal funds with a proportionately greater amount of such funds committed from private sector sources; and ####

(3)targets such individuals residing within one or more relatively well-defined neighborhoods or communities (including rural communities) that experience high rates of poverty or unemployment. ###

(e)Approval Not later than 9 months after the date of enactment of this title, the Secretary shall, on a competitive basis, approve such applications to conduct demonstration projects under this title as the Secretary considers to be appropriate, taking into account the assessments required by subsections

(c)and (d). The Secretary shall ensure, to the maximum extent practicable, that the applications that are approved involve a range of communities (both rural and urban) and diverse populations. ###

(f)Contracts With Nonprofit Entities The Secretary may contract with an entity described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code to carry out any responsibility of the Secretary under this section or section 412 if— ####

(1)such entity demonstrates the ability to carry out such responsibility; and ####

(2)the Secretary can demonstrate that such responsibility would not be carried out by the Secretary at a lower cost. ###

(g)Grandfathering of Existing Statewide Programs Any statewide individual asset-building program that is carried out in a manner consistent with the purposes of this title, that is established under State law as of the date of enactment of this Act, and that as of such date is operating with an annual State appropriation of not less than $1,000,000 in non-Federal funds, shall be deemed to meet the eligibility requirements of this subtitle, and the entity carrying out the program shall be deemed to be a qualified entity. The Secretary shall consider funding the statewide program as a demonstration project described in this subtitle. In considering the statewide program for funding, the Secretary shall review an application submitted by the entity carrying out such statewide program under this section, notwithstanding the preference requirements listed in subsection (d). Any program requirements under sections 407 through 411 that are inconsistent with State statutory requirements in effect on the date of enactment of this Act, governing such statewide program, shall not apply to the program.