; (ii) a lifeline rate; (iii) bill discounting; (iv) special hardship provisions; (v) a percentage-of-income payment plan; or (vi) water efficiency assistance, including direct installation of water efficient fixtures and leak repair, which may be completed through a contracted third party. (C) Assistance exempt from taxation Notwithstanding any other provision of law, assistance provided to a low-income household under a program carried out by an eligible entity (or a State, on behalf of a small community-serving eligible entity) using a grant under this subsection shall be exempt from income tax under the Internal Revenue Code of 1986. (6) Application To receive a grant under this subsection, an eligible entity (or a State, on behalf of a small community-serving eligible entity) shall submit to the Administrator an application that demonstrates that— (A) the proposed program of the eligible entity or small community-serving eligible entity, as applicable, meets the requirements developed under paragraph (5)(A); (B) the proposed program of the eligible entity or small community-serving eligible entity, as applicable, will treat owners and renters equitably; (C) the eligible entity or small community-serving eligible entity, as applicable, has, to fund the activities necessary to achieve or maintain compliance with this Act— (i) a long-term financial plan based on a rate analysis; (ii) an asset management plan; (iii) a capital improvement plan with a period of not less than 20 years; (iv) a fiscal management plan; or (v) another plan similar to the plans described in clauses (i) through (iv); (D) a grant awarded under this subsection would support the efforts of the eligible entity or the small community-serving entity, as applicable, to generate the necessary funds to achieve or maintain compliance with this title while mitigating the cost to low-income households