1. (a) The Oversight Committee may grant funds for a multiyear project subject to the requirement that all funds for the multiyear project are awarded in the state fiscal year that the project is approved by the Oversight Committee.
2. (b) Only those funds to be expended during the fiscal year will be distributed to the multiyear grant recipient.
3. (c) Funds approved by the Oversight Committee for multiyear projects not expended during the fiscal year shall be maintained in an escrow account until such time as the funds are distributed for subsequent years of the project.
4. (d) A recipient awarded a grant for a multiyear project may fulfill the certification requirements set forth in §703.11 of this chapter (relating to Requirement to Demonstrate Available Funds for Cancer Research Grants) on a year-by-year basis at the time of the annual progress review or upon a schedule established by the contract between the Institute and the recipient.

Source Note:The provisions of this §703.15 adopted to be effective December 21, 2009, 34 TexReg 9213.