- (1) The Board of Accountancy may make grants up to the amount approved in its legislatively approved budget for making grants under the Oregon Board of Accountancy Pipeline Scholarship Grant Program to one or more nonprofit entities to be used to provide need-based scholarships to eligible students seeking higher education in accounting at eligible institutions.
(2) The grantee and the board may enter into a grant agreement specifying the amount of the grant and other terms, including any administrative costs that may be retained by the grantee along with other requirements specified by the board.
(3) Grantees must disburse funds to eligible students within a time schedule specified by the board.
(4) Grantees may not disburse scholarship funds except pursuant to the grant terms and these administrative rules. If a grantee disburses scholarship funds to an ineligible student or otherwise uses the funds in a manner not authorized by the grant agreement or these rules, the grantee must reimburse the board the full amount of those funds.
(5) Grantees must return any unused funds to the board within the time specified in any grant agreement.
(6) Each grantee must maintain sufficient records to document its activities related to the scholarship grant program. Additional recordkeeping requirements may be specified by the board in the grant agreement.
(7) Upon request of the board, each grantee must make its academic and financial records related to the scholarship grant program available for review by the board or its designee and must retain those records for each award for not less than three years after the scholarship funds are awarded to a student.
Statutory/Other Authority
SB 796 (2025)
Statutes/Other Implemented
Chapter 370, OL
History
BOA 2-2025, adopt filed 10/22/2025, effective 10/22/2025