§ 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.

Legislative History

L. 2004, ch. 112, § 47; July 1.