Section Res 8403.03 - Reduction of Grant-In-Aid(a) Should OHRV or snowmobile revenues fall short of the estimated amounts, grant-in-aid awards shall be reduced by the amount of the revenue shortfall. If GIA revenues are insufficient to fund projects at the percentages noted in Res 8403.02, the bureau shall have the ability to offer partial funding to a club,which is lower than those proportions noted in Res 8403.02, and the club may determine if they wish to accept the lower project funds.(b) Any non-GIA grant(s) received for purchases of equipment shall be deducted from the total cost of a new or used piece of equipment before calculating a grant in aid award.(c) In the event that a club is purchasing new equipment, and that club is selling or trading-in property previously purchased through the GIA program as part of the financing for that new equipment, then the bureau shall compare the value of that sale or trade-in against the amount of the purchase price not covered by the GIA award. If the sale or trade-in value is greater than the proportion of the purchase price not covered by the GIA award, then the Bureau shall reduce the GIA award below that specified in Res 8403.02 to the extent necessary to prevent the combination of the sale or trade-in value and the GIA award from exceeding 100% of the value of the new equipment.N.H. Admin. Code § Res 8403.03
#2221, eff 12-23-82; ss by #2979, eff 2-21-85; ss by #4391-a, eff 3-30-88; ss by #5698, eff 9-7-93, EXPIRED 9-7-99
New. #7238, eff 5-1-00, EXPIRED: 5-1-08
New. #9195, INTERIM, eff 6-27-08, EXPIRES: 12-24-08; ss by #9350, eff 12-24-08
Amended by Volume XXXV Number 27, Filed July 9, 2015 , Proposed by #10850, Effective 6/17/2015, Expires6/17/2025.