Md. Code Regs. 24.05.22.03

Current through Register Vol. 51, No. 24, December 2, 2024

Section 24.05.22.03 - Application - Requirements

A. A nonprofit institution of higher education shall first submit an application to the Authority prior to submitting its first request for a distribution of matching funds from the Fund in a fiscal year.

B. The application shall be on a form provided by the Authority and shall include the following information:

(1) A copy of the proposed research endowment plan for a research endowment at the nonprofit institution of higher education that includes the information required by Economic Development Article, § 6-615, Annotated Code of Maryland, and Regulation .05 of this chapter;

(2) The legal name of the nonprofit institution of higher education;

(3) The street address of the principal place of business of the nonprofit institution of higher education and the mailing address, email address, and telephone number of the nonprofit institution of higher education;

(4) The name, business mailing address, telephone number, and email address of an individual with authority to act on behalf of the nonprofit institution of higher education with respect to the application;

(5) The name and title of the individual with authority to sign the agreement for distribution of matching funds under the Program on behalf of the nonprofit institution of higher education;

(6) The federal employer identification number of the nonprofit institution of higher education;

(7) Certification of the president of the nonprofit institution of higher education or the designee of the president determining that the donation constitutes a qualified donation; and

(8) Any other information requested by the Authority.

C. Applications must be received by the Authority on or before a submission date in order for the nonprofit institution of higher education to be considered for an allocation of matching funds available for a fiscal year.

D. The Authority may allocate all of the matching funds available under the Program for a fiscal year after reviewing applications submitted for the first submission date for that fiscal year, and there can be no guarantee that funds will be available under the Program for allocation to applications received after the first submission date.

E. A nonprofit institution of higher education may submit more than one application to the Authority during the fiscal year. Each application shall include one research endowment plan for a research endowment at the nonprofit institution of higher education.

Md. Code Regs. 24.05.22.03

Regulation .03 adopted effective 42:12 Md. R. 763, eff.6/22/2015; amended effective 51:17 Md. R. 778, eff. 9/2/2024.