PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 705 this subpart in each fiscal year that bears as nearly as possible the same ratio to the amount appropriated under section 576C as the sJlocation of funds under part A of chapter 1 of title I of the Elementary and Secondary Education Act of 1965 in that State bears to the total allocation of such funds in all States, except that no State grant shall be less than $500,000 in any fiscal year. "(c) DURATION OF GRANT. — Each grant awarded xmder this subpart shall be awarded for a term of 5 years, subject to the availability of appropriations. "(d) FEDERAL SHARE. —The Federal share of each grant awarded under this subpart shall be 75 percent in the first year in which the State receives a grant, 65 percent in the second such year, 55 percent in the third such year, 45 percent in the fourth such year, and 35 percent in the fifth such year. "(e) NON-FEDERAL SHARE. — The non-Federal share of each grant awarded under this subpart may be in cash or in kind fairly evaluated, including planned equipment or services. "(f) SUBMISSION OF STATE APPLICATIONS. — In order to receive a grant under this subpart, a State shall submit an application at such time or times, in such manner, and containing such information as the Secretary may prescribe by regulation. Such appHcation shall— "(1) contain assurances that the State will award grants on a competitive basis to eligible recipients submitting applications described in section 574; "(2) set forth a program of activities for csirrying out the purposes set forth in this subpart in such detail as will enable the Secretary to determine the degree to which such progrsim will accomplish such purposes and such other policies, procedures, and assurances as the Secretary may require by regulation. "SEC. 573. AGREEMENTS. 20 USC 1111b. "Each State receiving a grant under this subpart shall enter into an agreement with the Secretary. Each such agreement shall include provisions designed to ensure that— "(1) the State educational agency, the State higher education agency, or the State agency which administers subpart 4 of part A of title IV, relating to State student incentive grsints, will administer the program authorized by this subpart in the State; "(2) the State educational agency or higher education agency will use not more than 5 percent of the grant it receives for administrative expenses; "(3) the State educationed agency or higher education agency Records, will keep such records and provide such information to the Secretary as may be required for fiscal audit and program evaluation, consistent with the responsibilities of the Secretary; and "(4) the State wili establish a system for the evaluation of the programs assisted under this subpart. "SEC. 574. APPLICATION. 20 USC 1111c. "(a) IN GENERAL. —^A grant vmder this subpart may be made only to an eligible recipient which submits an appKcation to the State containing or accompanied by such information as the State may reasonably require. 59-194 O—93 24: QL 3 (Pt. 1)
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