(a) All State agencies and departments shall prepare and submit to the appropriate federal agency indirect cost rate proposals for the reimbursement of departmental and statewide indirect costs unless specifically exempted in writing by the Secretary of Administration.

(b) Requests for federal funds shall include a specific request for reimbursement of indirect costs. Awards of statewide indirect costs will be deposited into the General Fund except statewide indirect costs will be deposited into the Transportation Fund for costs recovered by the Agency of Transportation. The Commissioner of Finance and Management may authorize departments to retain recovered indirect cost receipts. (Added 1979, No. 205 (Adj. Sess.), § 137, eff. May 9, 1980; amended 1999, No. 1, § 92, eff. March 31, 1999; 2011, No. 162 (Adj. Sess.), § E.102.)