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(1) allocate money from the state fund to the endowment fund created by a qualifying organization under Section 9-6-503;
(2) determine the eligibility of each qualifying organization to receive money from the state fund;
(3) determine the matching amount each qualifying organization shall raise in order to qualify to receive money from the state fund;
(4) establish a date by which each qualifying organization shall provide its matching funds;
(5) verify that matching funds have been provided by each qualifying organization by the date determined in Subsection (4); and
(6)
(a) in accordance with the provisions of this part and Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division may establish criteria by rule for determining the eligibility of qualifying organizations to receive money from the state fund; and
(b) in making rules under this Subsection (6), the division may consider the recommendations of the arts board and the museums board.