(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.
