The Secretary shall approve this sort of Point out funds entry system as suitable for Federal contributions to your reserve fund if—
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The term "Federal contribution" implies the part of the contribution produced by a taking part Point out to, or with the account of, an accredited Point out program which is designed with Federal funds allotted into the Point out by the Secretary under section 5702 of the title.
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The Secretary shall, by regulation or other steering, prescribe Method requirements that meet up with the following least needs:
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A Condition other credit history guidance method authorized underneath this segment is going to be suitable for obtaining Federal contributions to, or to the account of, the Point out program in an volume consistent with the agenda describing the apportionment of allocated Federal money between Point out applications sent with the Condition to your Secretary beneath the allocation agreement.
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