Section 4-4-38.5-12 - Awarding of grants after July 31, 2019; limitation on transfer of assets; grant agreement required; funds conditioned on project completion(a) After July 31, 2019, a state agency may award grants under this chapter from the fund to eligible broadband service providers for eligible broadband projects, in accordance with: (1) the procedures established by the office under section 9 of this chapter; and(2) the guidelines adopted by the office under section 10 of this chapter.(b) Once funds have been released from the fund in accordance with this chapter, all authority and ownership of the eligible broadband infrastructure vests with the eligible broadband service provider that built the infrastructure. The office may not allow for the transfer of eligible broadband assets paid for with funds under this chapter to any entity other than an eligible broadband service provider.(c) The office shall sign a grant agreement with an eligible broadband service provider awarded a grant under this chapter for an eligible broadband project. A grant agreement required under this subsection must:(1) outline a start date and end date for completion of the eligible broadband project; and(2) condition the release of any grant funds awarded under this chapter on the progressive completion of the eligible broadband project.Added by P.L. 189-2019,SEC. 7, eff. 5/2/2019.