; and (E) in the case of a public transportation capital project as defined in section 5302 of title 49, United States Code, the recipient of bond guarantees, loans, equity investments, or any other innovative financing technique authorized under this Act complies with the grant requirements applicable to grants made under section 5309 of such title. (4) Application for assistance (A) In general A State or local government that wishes to receive a loan or bond guarantee under this section shall submit an application to the Board in such form and manner and containing such information as the Board may require. (B) Requirement for public sponsorship of private entities A private entity may only receive a bond guarantee, loan, or equity investment under this section if the State or local government for the jurisdiction in which the nonprofit infrastructure provider or private partner is located submits an application pursuant to subparagraph (A) on behalf of such nonprofit infrastructure provider or private partner. (5) Limitations on single state awards (A) Annual limitation The Board shall set an annual limit, as a percentage of total assistance provided under this section during a year, on the amount of assistance a single State (including local governments and other infrastructure providers within such State) may receive in assistance provided under this section. (B) Cumulative limitation The Board shall set a limit, as a percentage of total assistance provided under this section outstanding at any one time, on the amount of assistance a single State (including local governments and other infrastructure providers within such State) may receive in assistance provided under this section. (6) Loan specifications Loans made under this section shall have such maturity and carry such interest rate as the Board determines appropriate. (7) Bond guarantee The Board shall charge such fees for Bond guarantees made under this section as the Board determines appropriate. (8) Equity investments With respect to a QIP, the