Section 15-38-9 - Maximum grant amount; disbursement(a) Maximum grant amounts shall not exceed $300,000 or the average of the federal tax credit received for the prior three tax years, whichever is less(b) For awards greater than $150,000, the grant amount shall be disbursed as payments based on milestones approved by the chief executive officer of the development corporation. [Eff 8/17/2019] (Auth: HRS § 206M-3) (Imp: HRS § 206M-15.2)