Job Training Partnerships in lieu of tax credits (1) In general Upon application, the Secretary of the Treasury shall, subject to the requirements of this subsection, provide a grant to each person who makes a qualified investment in a Qualified Job Training Partnership in an amount not to exceed 100 percent of such investment. (2) Application (A) In general At the stated election of the applicant, an application for certification under section 48E(d)(2) of the Internal Revenue Code of 1986 for a credit under such section for any taxable year shall be considered to be an application for a grant under paragraph (1) for such taxable year. (B) Submission date An application for a grant under paragraph (1) for any taxable year shall be submitted— (i) not earlier than the day after the last day of such taxable year