; and (BB) monitoring and verification procedures for approved projects; (bb) offer financial awards for a project designed— (AA) to capture more than 10,000 tons of carbon dioxide per year; and (BB) to be deployed at a cost of less than $200 per ton of carbon dioxide captured; and (cc) to the maximum extent practicable, make financial awards to geographically diverse projects, including at least— (AA) 1 project in a coastal State; and (BB) 1 project in a rural State. (III) Public participation In carrying out subclause (II)(aa), the Board shall— (aa) provide notice of and, for a period of not less than 60 days, an opportunity for public comment on, any draft or proposed version of the requirements described in subclause (II)(aa); and (bb) take into account public comments received in developing the final version of those requirements. (IV) Peer review No financial awards may be provided under this clause until the proposal for which the award is sought has been peer reviewed in accordance with such standards for peer review as are established by the Administrator. (iii) Direct air capture technology advisory board (I) Establishment There is established an advisory board to be known as the Direct Air Capture Technology Advisory Board . (II) Composition The Board shall be composed of 9 members appointed by the Administrator, who shall provide expertise in— (aa) climate science; (bb) physics; (cc) chemistry; (dd) biology; (ee) engineering; (ff) economics; (gg) business management; and (hh) such other disciplines as the Administrator determines to be necessary to achieve the purposes of this subparagraph. (III) Term; vacancies (aa) Term A member of the Board shall serve for a term of 6 years. (bb) Vacancies A vacancy on the Board— (AA) shall not affect the powers of the Board