; and (2) 25 percent of the amount reserved for the relevant fiscal year under paragraph (2) of subsection (a) (after any adjustment under subsection (c)). (c) Proportional adjustment In any of fiscal years 2019, 2020, 2021, 2022, and 2023, if the amount appropriated for such fiscal year is greater or less than the amount authorized for such fiscal year under section 416, the amounts reserved under subsection (a) shall be increased or decreased for such fiscal year so that each such amount bears the same proportion to the amount appropriated as each of the amounts reserved under such subsection bears to the amount authorized. . (b) Establishment of Innovation Program The Assets for Independence Act ( 42 U.S.C. 604 note), as amended by subsection (a), is further amended by adding at the end the following new section: 418. AFI Innovation Projects (a) In general The Secretary is authorized to make grants to qualified entities to conduct AFI innovation projects under this section. (b) Definitions For purposes of this section: (1) AFI innovation project The term AFI innovation project means a demonstration project carried out by a qualified entity under this section. (2) Innovation development account The term innovation development account means an account that is established in a federally insured financial institution or a State insured financial institution and meets such other requirements as are established by the Secretary. (c) Application (1) Criteria and preferences (A) In general Subject to subparagraph (B), in considering an application to conduct an AFI innovation project, the Secretary shall apply subsections (c) and (d) of section 405 to the application in the same manner that such subsections apply to an application to conduct a demonstration project under section 405. (B) Modification For purposes of this paragraph, paragraph (1) of section 405(c) shall be applied without regard to the phrase through activities requiring one or more qualified expenses . (2) Approval of AFI innovation projects Not later