; and (II) provide an opportunity for the applicant to resubmit the application. (B) Disbursement If the Administrator approves an application under subparagraph (A)(iii), the Administrator shall disburse grant funds not later than 60 days after the date of the determination. (3) Cost-share (A) In general Except as provided in subparagraph (B), the non-Federal share of an activity carried out using a grant under paragraph (1) shall be 25 percent. (B) Exception The Administrator may waive the cost-share requirement under subparagraph (A) if the grant recipient is or serves a disadvantaged community (as defined in subsection (d)(3)). (4) Compliance with Buy America Subsection (a)(4) shall apply to grant funds under this subsection, without regard to the fiscal year limitation in subparagraph (A) of that subsection. (5) Report to Congress (A) In general Not later than 180 days after the date of enactment of this subsection, and not less frequently than annually thereafter, the Administrator shall submit to Congress a report that— (i) describes the projects awarded grants under paragraph (1) during the applicable reporting period; and (ii) includes any recommendations of the Administrator to improve the ability of grants under paragraph (1) to achieve the purposes described in section 2 of the Water Infrastructure Modernization Act of 2023 . (B) Initial report The initial report required under subparagraph (A) shall include a description of the implementation of this subsection, including a description of— (i) the projects approved for a grant under paragraph (1); (ii) the projects denied a grant under paragraph (1)