development entities serving distressed communities The amendments made by subsection (c) shall apply to qualified equity investments acquired at original issue after the date of the enactment of this Act. 304. Race to the Shop (a) Program authorized From the amounts appropriated under subsection (e), the Secretary of Labor shall award grants, on a competitive basis, to eligible entities to increase and improve skills training for current and prospective workers in highly-skilled industries. (b) Application To receive a grant under this section, an eligible entity shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require, which shall include the following: (1) A bold economic plan for the eligible entity that builds on the special assets and strengths of the entity in highly-skilled industries, as such assets and strengths are determined by the entity. (2) An identification and prioritization of key weaknesses or barriers (such as lack of strong vocational education or skills training system, or absence of customized training for industrial firms and sectors), as determined by the eligible entity, to successfully implementing such plan. (3) A description of strategies that will carry out the plan through projects and investments, with deep and sustainable involvement of highly-skilled industries. (4) A description of how other Federal and non-Federal funds will be leverage in support of such strategies. (5) A description of how the eligible entity will reform the entity’s policies or governance in support of such strategies. (c) Use of funds An eligible entity that receives a grant under this section shall use such grant to carry out the entity’s bold economic plan described in subsection (b)(1). (d) Limitation An eligible entity may not receive assistance from more than 1 grant awarded under this section for a fiscal year. (e) Authorization of appropriations There are authorized to be appropriated $25,000,000 for each of fiscal years