1. (a) After consulting with the Secretary, the Board shall adopt standards to award financial assistance.

2. (b) The standards shall authorize the award of financial assistance to:

   1. (1) support the development and use of best practices in the incubation process;
   2. (2) provide strategic planning, needs assessments, and feasibility studies; or

   3. (3) help acquire or improve new or expanded space or improve existing space for an incubator, including providing or helping another with:

      1. (i) acquisition of land;
      2. (ii) acquisition of architectural or engineering services;
      3. (iii) payment of administrative costs;
      4. (iv) development or upgrading of communications infrastructure;
      5. (v) acquisition of furnishings or equipment; or
      6. (vi) acquisition of other items associated with tenant build-out.

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.