; and (2) of which any remaining funds shall be used to award a second round of grants under subsection (a)(2)(B). III State Grantee Advisory Counsel 301. State grantee advisor counsel (a) In general Each State that receives a grant under title I or title II shall establish a State grantee advisory counsel. (b) Membership and duties (1) In general The State board shall serve as the State grantee advisory council and shall oversee and assess the performance of the activities carried out under the grant received under title I or II. (2) Other entities Representatives of the following entities shall be invited to serve as a member of the State grantee advisory council, if not a member of the State board: (A) The State workforce system. (B) The State unemployment compensation agency. (C) The State higher education system, including 2-year public institutions of higher education. (D) The State, local, or regional chambers of commerce. (E) Representatives of employer organizations. (F) Representatives of labor organizations or joint labor-management organizations. (G) Community-based organizations. (H) An established State-based employee ownership center that offers education and technical assistance to retiring business owners, worker groups, entrepreneurs, or declining firms, for the purpose of using broad-based employee share ownership in the form of employee stock ownership plans, worker cooperatives, or employee ownership trusts, to allow worker groups to buy out businesses. (I) Any other member relevant to the activities carried out by the State under the grant awarded under title I or II. IV Interagency Task Force 401. Purposes Not later than 6 months after the date of enactment of this Act, the Secretaries of Commerce and Labor (in this title referred to as the Secretaries ) shall, jointly, assemble a Federal interagency task force to— (1) identify any challenges that a State or local area receiving funds under this Act has had to overcome