§ 15-3-205 — Funds for match

Funds used under the provisions of this subchapter shall adhere to the following criteria: (1) Be used for the purposes of matching an approved grant from an eligible federal agency, limited to the following: (A) The National Science Foundation; (B) The National Institutes of Health; (C) The United States Department of Energy; (D) The United States Department of Defense; (E) The United States Environmental Protection Agency; (F) The National Aeronautics and Space Administration; (G) The United States Department of Agriculture; (H) The United States Department of Transportation; (I) The United States Department of Commerce; (J) The United States Department of Education; and (K) The United States Department of Homeland Security; (2) (A) Proposals for federal funds that contain a specific state or federal match requirement, for the purposes of this subchapter, shall not be matched at a rate of more than fifty percent (50%), except that any portion of the match over fifty percent (50%) may be borne by the college or university. (B) Proposals for federal funds that do not contain a specific state or federal match requirement, for the purposes of this subchapter, shall not be matched at a rate of more than ten percent (10%), provided that the state share is matched dollar for dollar by the college or university for a combined match of not more than twenty percent (20%), except that any portion of the match over twenty percent (20%) may be borne by the college or university; and (3) A state financial match requirement of at least twenty thousand dollars ($20,000) for equipment matching and at least fifty thousand dollars ($50,000) for research project matching.

Legislative History

Acts 1999, No. 1545, § 5; 2005, No. 2265, § 1.