; (dd) establish milestones and associated award amounts for projects that reach milestones; (ee) determine whether awarded projects are reaching milestones; and (ff) develop a process to reallocate outstanding award amounts from projects that are not reaching milestones to other projects with more potential. (C) Grant and award amounts (i) Grant amounts Each Federal agency required by subparagraph (A) to carry out a grant program may make grants to a qualifying institution for up to $1,000,000 per year for up to 3 years. (ii) Award amounts Each qualifying institution that receives a grant under subparagraph (B) shall provide awards for individual projects of not more than $150,000, to be provided in phased amounts, based on reaching the milestones established by the qualifying institution’s Program Oversight Board. (D) Authorized expenditures for innovative approaches to technology transfer grant program (i) Percentage The percentage of the extramural budget each Federal agency required by subsection (n) to establish an STTR program shall expend on the Innovative Approaches to Technology Transfer Grant Program shall be— (I) 0.05 percent for each of fiscal years 2014 and 2015