Allocation of funds
(A) In general The Secretary shall reserve funds made available under paragraph (1) for each State energy office— (i) in accordance with the allocation formula for the State Energy Program in effect on January 1, 2022 ; and (ii) to be distributed to a State energy office if the application of the State energy office under subsection (b) is approved.
(B) Additional funds Not earlier than 2 years after August 16, 2022 , any money reserved under subparagraph (A) but not distributed under clause (ii) of that subparagraph shall be redistributed to the State energy offices operating a HOMES rebate program using a grant received under this section in proportion to the amount distributed to those State energy offices under subparagraph (A)(ii).