Skip to Main Content
<< Back | Return to Main COMAR Search Page

14 records match your request.

FileAbstract
24.05.22.00.htm 24.05.22.00. Title 24 DEPARTMENT OF COMMERCE Subtitle 05 ECONOMIC DEVELOPMENT Chapter 22 Maryland E-Nnovation Initiative Program Authority: Economic Development Article, §2-108 and 6-601―6-623, Annotated Code of Maryland
24.05.22.01.htm 24.05.22.01. 01 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Act” means Economic Development Article, Title 6, Subtitle 6, Annotated Code of Maryland.. 2) “Affiliated foundation” means a corporation created, organized, and located in the State that meets the following conditions:a) With respect to public nonprofit institutions of higher education, an affiliated foundation created and operated in accordance with Education Artic
24.05.22.02.htm 24.05.22.02. 02 Designated Fields of Scientific and Technical Fields of Study; Expenditure of Endowment Proceeds.. A. The Authority designates the following scientific and technical fields of study as eligible for the expenditure of endowment proceeds under the Program:1) Physical sciences;. 2) Life and neuro sciences;. 3) Engineering;. 4) Mathematical and computational sciences;. 5) Regulatory science;. 6) Autonomous systems;. 7) Aeronautical and space science;. 8) Environmental sciences;.
24.05.22.03.htm 24.05.22.03. 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 t
24.05.22.04.htm 24.05.22.04. 04 Application ― Authority Review.. A. The Authority shall review each application for compliance with the Act and this chapter. If the Authority determines that an application is not responsive to the requirements under Regulation .03 of this chapter, the Authority shall notify the nonprofit institution of higher education of the deficiency, and the nonprofit institution of higher education shall have 5 business days to cure the deficiency.B. The Authority shall pr
24.05.22.05.htm 24.05.22.05. 05 Research Endowment Plan ― Requirements.. A. The research endowment plan shall provide the Authority with an explanation of the nonprofit institution of higher education’s comprehensive research objectives and plans to build competitive research infrastructure in the specified scientific and technical fields of study as designated by the Authority, as well as comprehensive measures for achieving this goal.B. The proposed research endowment plan shall include the following:.
24.05.22.06.htm 24.05.22.06. 06 Distributions ― Documentation Required.. A. A nonprofit institution of higher education seeking a distribution of matching funds from the Fund first shall obtain qualified donations in an amount equal to or greater than the amount of matching funds requested for distribution and shall submit a request to the Authority on such form as designated by the Authority from time to time that incl1) The amount requested for distribution to the nonprofit institution of higher education;.
24.05.22.07.htm 24.05.22.07. 07 Distributions ― Authority Review.. A. The Authority shall conduct a review of each request for distribution of matching funds from the Fund for compliance with the provisions of the Act and this chapter.B. The Authority shall use the nonprofit institution of higher education’s approved research endowment plan to determine if requests for distributions from the Fund are valid and shall consider any additional information or details that expand upon the specific area of resea
24.05.22.08.htm 24.05.22.08. 08 Reallocation of Funds.. A. If a nonprofit institution of higher education fails to have deposited into its research endowment the required amount of qualified donations within 90 days after the Authority approves a request for distribution of matching funds:1) The nonprofit institution of higher education shall return any matching funds received from the Authority with respect to the distribution request within 10 business days of the expiration of the 90-day period; and
24.05.22.09.htm 24.05.22.09. 09 Reporting Requirements.. A. By September 30, 2016, and annually thereafter, a nonprofit institution of higher education which has received matching funds shall provide an annual report to the Authority, for the 12-month period ending June 30 of that year, that includes a full accounting of the matching funds, endowment proceeds, and adherence to the objectives established by the research endowment plan approved by the Authority.B. A nonprofit institution of higher education whi
24.05.22.10.htm 24.05.22.10. 10 Audits and Inquiries.. A. Audits.. 1) The Authority may require at any reasonable time an audit of any information submitted to the Authority by the nonprofit institution of higher education in its application, research endowment plan, or request for distribution of matching funds from the Fund.2) An audit under §A(1) of this regulation shall be conducted at the expense of the nonprofit institution of higher education by an independent auditor selected by the nonprof
24.05.22.11.htm 24.05.22.11. 11 Noncompliance with Approved Research Endowment Plan.. A. If the Authority discovers from any source, including the reports submitted by a nonprofit institution of higher education to the Authority as set forth in Regulation .09 of this chapter and audit or inquiry responses from a nonprofit institution of higher education to the Authority as set forth in Regulation .10 of this chapter, that a nonprofit institution of higher education is not in compliance with the approved re
24.05.22.12.htm 24.05.22.12. 12 Waiver.. The Authority may waive or vary particular provisions of this chapter to the extent that a waiver is not inconsistent with the Act if:A. Conformance to the requirement of any federal, State, or local program necessitates waiver or variance of a regulation; orB. In the determination of the Authority, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
24.05.22.9999.htm 24.05.22.9999. Administrative History Effective date: June 22, 2015 (42:12 Md. R. 763).
<< Back | Return to Main COMAR Search Page