A cost-type research and development contract (including a grant) with a university, college, or other educational institution may provide for payment of reimbursable indirect costs on the basis of predetermined fixed-percentage rates applied to the total of the reimbursable direct costs incurred or to an element of the total of the reimbursable direct costs incurred.

(Pub. L. 111–350, § 3, Jan. 4, 2011, 124 Stat. 3799.)

The words “On and after September 5, 1962” are omitted as obsolete.