The Administrator of the Federal Aviation Administration shall enter into a cost-sharing cooperative agreement, using a competitive process, with institutions, entities, or consortiums to carry out a program for the development, maturation, and testing of certifiable CLEEN aircraft, engine technologies, and jet fuels for civil airplanes.

In this section, the term “CLEEN aircraft and engine technology” means continuous lower energy, emissions, and noise aircraft and engine technology.

The Administrator shall establish the performance objectives for the program in terms of the specific objectives to reduce fuel burn, emissions and noise.

In carrying out the program, the Administrator may provide that not less than 2 of the cooperative agreements entered into under this section involve the participation of an entity that is a small business concern (as defined in section 3 of the Small Business Act (15 U.S.C. 632)), provided that the submitted technology proposal of the entity meets, at a minimum, FAA Acquisition Management System requirements and requisite technology readiness levels for entry into the agreement, as determined by the Administrator.