((a)) ** Authorization; purposes; limitation on amount** The Secretary may make grants and enter into contracts under this subsection to assist any sea grant program or project if the Secretary finds that such program or project will—

((1)) implement the objective set forth in ; and

((2)) be responsive to the needs or problems of individual States or regions.

((b)) ** Special grants; maximum amount; prerequisites** The Secretary may make special grants under this subsection to implement the objective set forth in . The amount of any such grant may equal 100 percent, or any lesser percent, of the total cost of the project involved. No grant may be made under this subsection unless the Secretary finds that—

((1)) no reasonable means is available through which the applicant can meet the matching requirement for a grant under subsection (a);

((2)) the probable benefit of such project outweighs the public interest in such matching requirement; and

((3)) the same or equivalent benefit cannot be obtained through the award of a contract or grant under subsection (a).

((c)) ** Eligibility and procedure** Any person may apply to the Secretary for a grant or contract under this section. Application shall be made in such form and manner, and with such content and other submissions, as the Secretary shall by regulation prescribe. The Secretary shall act upon each such application within 6 months after the date on which all required information is received.

((d)) ** Terms and conditions**

((1)) Any grant made, or contract entered into, under this section shall be subject to the limitations and provisions set forth in paragraphs (2), (3), and (4) and to such other terms, conditions, and requirements as the Secretary deems necessary or appropriate. Terms, conditions, and requirements imposed by the Secretary under this paragraph shall minimize any requirement of prior Federal approval.

((2)) No payment under any grant or contract under this section may be applied to—

((A)) the purchase or rental of any land; or

((B)) the purchase, rental, construction, preservation, or repair of any building, dock, or vessel;

((3)) The total amount which may be obligated for payment pursuant to grants made to, and contracts entered into with, persons under this section within any one State in any fiscal year shall not exceed an amount equal to 15 percent of the total funds appropriated for such year pursuant to .

((4)) Any person who receives or utilizes any proceeds of any grant or contract under this section shall keep such records as the Secretary shall by regulation prescribe as being necessary and appropriate to facilitate effective audit and evaluation, including records which fully disclose the amount and disposition by such recipient of such proceeds, the total cost of the program or project in connection with which such proceeds were used, and the amount, if any, of such cost which was provided through other sources. Such records shall be maintained for 3 years after the completion of such a program or project. The Secretary and the Comptroller General of the United States, or any of their duly authorized representatives, shall have access, for the purpose of audit and evaluation, to any books, documents, papers, and records of receipts which, in the opinion of the Secretary or of the Comptroller General, may be related or pertinent to such grants and contracts.