; and (2) by striking paragraph (3) and inserting the following: (3) Authorization of appropriations There are authorized to be appropriated to carry out this subsection— (A) $50,000,000 for fiscal year 2024; (B) $55,000,000 for fiscal year 2025; (C) $60,000,000 for fiscal year 2026; (D) $65,000,000 for fiscal year 2027; (E) $70,000,000 for fiscal year 2028; and (F) $75,000,000 for fiscal year 2029. . 5. Report to identify opportunities to streamline application process; updating guidance (a) Report Not later than 1 year after the date of enactment of this Act, the Administrator of the Environmental Protection Agency (referred to in this section as the Administrator ) shall submit to Congress a report that evaluates the application ranking criteria and approval process for grants and loans under section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 ( 42 U.S.C. 9604(k) ), which shall include, with respect to those grants and loans— (1) an evaluation of the shortcomings in the existing application requirements that are a recurring source of confusion for potential recipients of those grants or loans; (2) an identification of the most common sources of point deductions on application reviews; (3) strategies to incentivize the submission of applications from small communities and disadvantaged areas (as those terms are defined in section 128(a)(1)(B)(iv) of that Act ( 42 U.S.C. 9628(a)(1)(B)(iv) )