115 STAT. 1850 PUBLIC LAW 107-110—JAN. 8, 2002 application at such time, in such manner, and accompanied by such information as the Secretary may require. "(b) RECIPIENT APPLICATIONS.— "(1) SUBMISSION.— To be eligible to receive a subgrant under this section, a recipient shall submit an application to the grantee at such time, in such manner, and accompanied by such information as the grantee may require. "(2) REVIEW. — The grantee shall invite the individuals described in paragraph (3) to review all applications from recipients for a subgrant under this section and to make recommendations to the grantee regarding the approval of the applications. "(3) REVIEWERS.— The individuals described in this paragraph are the following: "(i) Leaders in the fields of economics and education. "(ii) Such other individuals as the grantee determines to be necessary, especially members of the State and local business, banking, and finance communities. 20 USC 7267d. " SEC. 5535. REQUIREMENTS. "(a) ADMINISTRATIVE COSTS.— The grantee and each recipient receiving a subgrant under this subpart for a fiscal year may use not more than 5 percent of the funds made available through the grant or subgrant for administrative costs. "(b) TEACHER TRAINING PROGRAMS.—In carrying out the teacher training programs described in section 5533(b)(2)(A), a recipient shall— "(1) train teachers who teach a grade from kindergarten through grade 12; and "(2) encourage teachers from disciplines other than economics and financial literacy to participate in such teacher training programs, if the training will promote the economic and financial literacy of those teachers' students. "(c) INVOLVEMENT OF BUSINESS COMMUNITY.— In carrying out the activities assisted under this subpart, the grantee and recipients are strongly encouraged to— "(1) include interactions with the local business community to the fullest extent possible to reinforce the connection between economic and financial literacy and economic development; and "(2) work with private businesses to obtain matching contributions for Federal funds and assist recipients in working toward self-sufficiency. " (d) ADDITIONAL REQUIREMENTS AND TECHNICAL ASSISTANCE.— The grantee shall— "(1) meet such other requirements as the Secretary determines to be necessary to assure compliance with this section; and "(2) receive from the Secretary such technical assistance as may be necessary to carry out this section. 20 USC 7267e. " SEC. 5536. ADMINISTRATIVE PROVISIONS. "(a) FEDERAL SHARE. —The Federal share of the cost described in section 5533(b)(2) shall be 50 percent. "(b) PAYMENT OF NON-FEDERAL SHARE. — The non-Federal share may be paid in cash or in kind (fairly evaluated, including plant, equipment, or services).
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