1. Short title This Act may be cited as the Pyrolysis Innovation Grants Act . 2. Pyrolysis innovation grant program (a) In general The Secretary of Agriculture, acting through the Director of the National Institute of Food and Agriculture, shall establish a program under which the Secretary will award grants to eligible entities to carry out not fewer than 10 pilot projects with the potential to reduce or sequester greenhouse emissions that convert and valorize tree nut harvest by-products into multiple higher value biocarbon products, including sustainable industrial applications, agrochemicals, repurposing process heat, energy, and construction materials. (b) Eligible entity defined The term eligible entity means— (1) a college or university (as defined in section 1404 of the National Agricultural Research, Extension, and Teaching Policy Act of 1977 ( 7 U.S.C. 3103 )); (2) a third-party private entity, the primary business of which is related to agriculture (as determined by the Secretary); (3) a nongovernmental organization with experience working with agricultural producers (as determined by the Secretary); and (4) a Federal agency or other governmental organization. (c) Report Not later than two years after the date on which the first grant is awarded under subsection (a), the Secretary shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report on— (1) the activities carried out using grants awarded under such subsection; (2) best practices used to leverage the investment of the Federal Government for the purposes specified in subsection (a)