; (B) invest and reinvest those amounts for the benefit of the grant program; and (C) administer the grant program to support partnerships between the public and private sectors in accordance with this Act. (3) Requirements If the Secretary enters into an agreement with the Foundation under paragraph (1), any amounts received by the Foundation under this section shall be subject to the National Fish and Wildlife Foundation Establishment Act ( 16 U.S.C. 3701 et seq. ), excluding section 10(a) of that Act ( 16 U.S.C. 3709(a) ). 5. Annual reports Not later than 180 days after the date of enactment of this Act, and annually thereafter, the Secretary shall submit to Congress a report on the implementation of this Act, including a description of each activity that has received funding under this Act in the preceding fiscal year. 6. Prohibition on Federal land holdings The Federal Government may not maintain ownership of any land acquired under this Act except for the purpose of promptly transferring ownership to an entity described in section 4(a). 7. Authorization of appropriations (a) In general There is authorized to be appropriated to the Secretary to carry out this Act $20,000,000 for each of fiscal years 2024 through 2029, of which not more than 5 percent shall be used for administrative costs of carrying out this Act. (b) Grant program Of the amounts made available to carry out this Act for each fiscal year, the Secretary shall use not less than 75 percent to carry out the grant program, including for technical assistance relating to the grant program. (c) Supplement, not supplant Amounts made available to carry out this Act for each fiscal year shall supplement, and not supplant, funding for other activities conducted by the Secretary in the Watershed. 8. Sunset This Act shall cease to have force or effect on October 1, 2030.