After October 1, 2008, the Secretary shall provide awards under this section on a quarterly funding cycle.
Subject to paragraph (2), the amount of a grant made under this section shall not exceed 50 percent of the cost of the project.
The funds made available to a Regional Board or any other eligible grantee through a regional innovation grant shall remain available for the 7-year period beginning on the date on which the award is provided, on the condition that the Regional Board or other grantee continues to be certified by the Secretary as making adequate progress toward achieving established benchmarks.
For the purpose of determining cost-sharing requirements for any other Federal program, funds provided as a regional innovation grant under this section shall be considered to be non-Federal funds.
Subject to paragraph (3), in providing rural development assistance under other programs, the Secretary shall give a high priority to areas that receive innovation grants under this section.
The Secretary shall consult with the heads of other Federal agencies to promote the development of priorities similar to those described in paragraph (1).