Only States and local governments that elect to participate in the pilot program may participate in the pilot program for a particular project.
For purposes of the pilot program, the Administrator shall establish new procedures to administer assistance provided under the sections referred to in paragraph (1).
The Administrator may waive such regulations or rules applicable to the provisions of assistance under the sections referred to in paragraph (1) as the Administrator determines are necessary to carry out the pilot program under this section.
Not later than March 31, 2009, the Administrator shall submit to the appropriate committees of Congress a report regarding the effectiveness of the pilot program under this section.
The Administrator shall initiate implementation of the pilot program under this section not later than 90 days after October 4, 2006.
The Administrator may not approve a project under the pilot program under this section after December 31, 2008.