La. Admin. Code tit. 13 § I-4913

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-4913 - LED Action-Grant Approval or Denial Provisions

A. In the event LED determines that an applicant is eligible, funding is available and a grant would be appropriate, a grant letter will be issued, specifying the amount, the terms and conditions of the grant.

B. Grant funds will be disbursed to the approved applicants as follows:

1. Phase I SBIR or STTR applicants shall receive 25 percent of the federal grant received, not to exceed $50,000 per applicant;

2. Phase II SBIR or STTR applicants shall receive 20 percent of the federal grant received, not to exceed $100,000 per applicant;

3. Each grant awarded shall be divided into two equal amounts and disbursed over a period of two consecutive years as follows:

a. Year 1 funding may be awarded based upon the amount stated in the federal notice of award;

b. Year 2 funding shall be awarded contingent upon the actual federal grant funding received, as supported by reporting documentation of recipient and any other compliance information requested by LED. In the event of any deviation from the anticipated total federal grant funding, LED reserves the right to increase or decrease the Year 2 award to ensure compliance with the maximum award provisions.

C. In the event LED determines that an applicant is not selected for an award, a denial letter will be issued by the secretary, specifying the basis for denial.

La. Admin. Code tit. 13, § I-4913

Promulgated by the Department of Economic Development, Office of the Secretary, LR 49850 (5/1/2023).

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104 and 51:2401.