870 R.I. Code R. 870-RICR-30-00-1.10

Current through December 3, 2024
Section 870-RICR-30-00-1.10 - Award
A. The Fellowship Committee shall email an Award Letter to each Applicant selected for an Award, with a copy to the Tax Division which shall include an indication on whether the Applicant is a STEM/Design Fellow or a Healthcare Fellow.
B. The Applicant shall have thirty (30) days from the date of emailing of an Award Letter to accept the Award by countersigning the Award Letter and delivering an executed copy to the Corporation.
C. An Award shall be deemed withdrawn if not timely accepted by an Applicant.
D. The Award Letter shall provide that the annual Tax Credit offered to the Applicant shall be as follows:
1. if the Applicant's highest degree is an associate's degree, the lesser of $1,000 or the Applicant's annual Eligible Expenses;
2. if the Applicant's highest degree is a bachelor's degree, the lesser of $4,000 or the Applicant's annual Eligible Expenses;
3. if the Applicant's highest degree is a master's degree or higher, the lesser of $6,000 or the Applicant's annual Eligible Expenses
E. The Award Letter shall require, among other things, that the Applicant submit annual reports, in such form and on such dates as the Corporation shall require, in order to confirm that the Applicant continues to meet all of the eligibility requirements of the Act and these Rules and as a prerequisite to funding any Award for the benefit of the Applicant; and that the Applicant consent to the public disclosure of the receipt of any Award including disclosure of the Applicant's name, post-secondary institution of higher learning, and employer.

870 R.I. Code R. 870-RICR-30-00-1.10

Amended effective 12/19/2018
Amended effective 4/11/2023