; and (II) of the bids determined to be acceptable under subclause (I), identify a technologically diverse set of carbon removal approaches, and for each of those selected approaches, select the bids containing the lowest desired price for carbon dioxide, subject to clause (iv), until the amount of funds available for the applicable permanence tier of the reverse auction is obligated. (ii) Permanence tiers In selecting bids under clause (i), the Secretary shall group the permanence of each carbon removal bid into 1 of the following 2 tiers: (I) Medium-term tier for bids providing for the removal of carbon dioxide for at least 100 years, but fewer than 1,000 years. (II) Long-term tier for bids providing for the removal of carbon dioxide for 1,000 years or more. (iii) Priority In any case in which the desired price in 2 or more bids submitted under subparagraph (A)(ii) for an applicable permanence tier is equal, the Secretary shall give priority to eligible entities that demonstrate outstanding potential for local and regional economic development in carrying out projects to remove carbon dioxide from ambient air or aquatic sources. (iv) Limitation on funds received by a single company To the extent that there are sufficient bids acceptable under clause (i)(I), the Secretary shall ensure that one or more eligible entities under common control does not receive more than 15 percent of the amounts made available for a fiscal year under this section. (4) Cost cap (A) In general Subject to subparagraph (B), for purposes of a reverse auction under paragraph (3), the Secretary shall— (i) determine the current average market price per net ton carbon dioxide equivalent basis to account for lifecycle greenhouse gas inputs of removed carbon within each permanence tier