Rules adopted pursuant to this subsection are routine technical rules pursuant to Title 5, chapter 375, subchapter II-A.

3.__Limitations.__The limitations on grant amounts and funding are as follows:

A.__A grant is limited to a maximum of $10,000;

B.__The total grant funding for a small business may not exceed $10,000 in any 5-year period;

C.__Grant funding requires a 100% match from the recipient small business;

D.__No more than 30% of the grant may be used for salaries for technical or business experts;

E.__No more than 30% of the grant may be used for indirect costs;

F.__No more than 30% of the grant may be used for travel expenses; and

G.__The grant period may not exceed 2 years.

4.__Report.__A small business that receives a grant pursuant to this subchapter shall submit a semiannual report on the status of the grant to the authority.

Sec. 2. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Act.

1999-00

FINANCE AUTHORITY OF MAINE

Small Wood Products Manufacturers

Fund

All Other $300,000

Provides matching grants to businesses for the development of new products, markets or technology.