(a) In order to obtain moneys from the bioscience research matching fund:
- (1) A bioscience research institution must provide the authority with the research grant proposal for federal, state or private funds submitted with a letter of intent to apply for a match to one of the funding agencies identified in K.S.A. 74-99b87, and amendments thereto; and
- (2) a bioscience research institution shall apply to the authority for a match from the bioscience research matching fund in writing within two weeks of the notice of a grant award of federal, state or private funds, and include an approved budget and an official notice of the grant award from the funding agency.
- (b) Upon receipt of an application to receive funds to match federal funds from one of the funding agencies identified in K.S.A. 74-99b87, and amendments thereto, the authority shall determine the eligibility for matching funds based on a finding that the bioscience research will have economic or commercial value to the state.
- (c) The authority shall promptly review applications for matching funds for consistency with this act.
- (d) The board shall ensure that no commitments for matching funds shall be made in excess of funds available for any given year.
L. 2004, ch. 112, § 45; July 1.