Senate Status:
2016 Statute
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74-99b87. Same; criteria for use of funds. Funds used under the provisions of this act shall adhere to the following criteria: (a) Be used for the purposes of matching an approved grant from a federal agency, including, without limitation, any of the following: (1) The national science foundation; (2) the national institutes of health; (3) the department of agriculture; (4) the environmental protection agency; (5) the department of education; (6) the national aeronautics and space administration; (7) the department of energy; (8) the department of defense; (9) the department of homeland security; (10) the department of transportation; and (11) the department of commerce. (b) Proposals for federal funds that contain a specific state or federal match requirement, for the purposes of this act, shall not be matched at a rate of more than 50%, except that any portion of the match over 50% may be borne by the bioscience research institution; (c) proposals for federal funds that do not contain a specific state or federal match requirement, for the purposes of this article, shall not be matched at a rate of more than 10%, provided that the state share is matched dollar for dollar by the college or bioscience research institution for a combined match of not more than 20%, except that any portion of the match over 20% may be borne by the bioscience research institution; and (d) a state financial match requirement of at least $20,000 for equipment matching and at least $50,000 for research project matching. |
History: L. 2004, ch. 112, § 47; July 1. |
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