Section 41-23-255
Amount of grants; applications.
THIS SECTION WAS AMENDED BY ACT 2021-544 IN THE 2021 REGULAR SESSION, EFFECTIVE MAY 27, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) The amount of research and development enhancement grants awarded by ADECA shall be subject to the appropriations of the Legislature. No research entity shall receive a research and development enhancement grant of more than 20 percent of the maximum amount awarded in a single fiscal year. The grants shall be allocated among various taxpayers using the procedures in this section.
(b) Each research entity who wishes to apply for a grant shall file an application with ADECA showing the amount of grant funding which the research entity expects in good faith to qualify for during the applicable fiscal year. No application shall show an expected claim in excess of 20 percent of the maximum amount to be awarded in a single fiscal year.
(c) If grant funds for the corresponding fiscal year are returned for any reason or if additional grant funds become available, ADECA may continue to award grants based on the competitive rating system
(Act 2019-404, §6; Act 2021-544, §1.)