; and (2) represents a significant portion of the household income of such consumers. (b) Application In applying for a grant under this section, a State shall demonstrate how the State will use grant amounts in the order of priority under subsection (c). (c) Order of priority for grant amounts A State receiving grant amounts under this section shall prioritize the use of such amounts in the following manner: (1) The use of grant amounts for risk reduction as the means to reduce the primary insurance premium for the consumer. (2) The use of grant amounts to relocate the homeowner from an uninsurable property. (3) The use of grant amounts as cash assistance to pay a portion of the insurance premium. (d) Consultation When establishing the grant program under subsection (a), the Secretary shall consult with the— (1) Secretary of Housing and Urban Development; (2) Director of the Federal Housing Finance Agency; (3) Secretary of Veterans Affairs; (4) Assistant Secretary for Housing and Federal Housing Commissioner for the Federal Housing Administration; and (5) Secretary of Agriculture. (e) Report The Secretary shall, not later than 2 years after the date of the enactment of this section and each year thereafter, publish a report that analyzes which risk reduction investments under subsection (c)(1) are most cost-effective, broken down by State and by type of catastrophe peril. (f) Authorization of appropriations There is authorized to be appropriated to the Secretary $50,000,000,000 annually to carry out this section. 6. Long-term policy pilot program (a) In general The Secretary shall, in consultation with States and the National Association of Insurance Commissioners, establish a pilot program for all-perils property insurance policies with a policy term of at least 5 years (in this section referred to as a multi-year policy ). (b) Premium and policy conditions An insurer who participates in the pilot program established under this section may— (1) increase premiums based on— (A) price indexes of construction costs