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.