; but (ii) may be awarded a grant under only 1 of the programs described in clause (i). (4) Term The term of a grant awarded under the pilot program shall be 5 years. (5) Minimum program requirements (A) In general Not later than 2 years after the date of enactment of this section, the Administrator shall develop, in consultation with all relevant stakeholders, the minimum requirements for 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. (B) Inclusions The program requirements developed under subparagraph (A) may include— (i) direct financial assistance; (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