Sec. RR-1. 5 MRSA §13124-D is enacted to read:
§13124-D. Maine EPSCoR Capacity Fund
The Maine EPSCoR Capacity Fund is established within the foundation to provide the matching funds that are required by several federal agencies in their EPSCoR activities. The fund must be used to match EPSCoR awards.
1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Fund" means the Maine EPSCoR Capacity Fund.
B. "Match" means the cash commitment required from the State as defined by the federal funding agency. Match requirements vary among federal agencies.
C. "Research capacity committee" means the EPSCoR steering committee referred to in section 13124-B.
2. Organization. The foundation is the custodian of state appropriated funds for the fund. The research capacity committee has fiscal responsibility for the approval and disbursement of the funds. The Maine EPSCoR director shall work closely with the research capacity committee and the foundation.
3. Authorized activities. The research capacity committee shall approve disbursement of funds to successful EPSCoR grantees. Solely upon direction of the research capacity committee, the foundation shall allocate the resources of the fund to match grants activities at successful academic, industry and nonprofit grantee institutions.
4. Guidelines. The research capacity committee shall establish guidelines for cash and in-kind match requirements based on the activities to be supported with the fund. Match levels must reflect the requirements identified by the federal funding agencies.
5. Liquidation and dissolution. In the event of liquidation or dissolution of the foundation or the fund, any rights or interests in a qualified security or portion of a qualified security purchased with money invested by the State vest in the State. The State is entitled to, in proportion to the amount of investment in the fund by the State, any balance of money remaining in the fund after payment of all debts and obligations upon liquidation or dissolution of the foundation or the fund.
Sec. RR-2. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
2001-02
MAINE SCIENCE AND TECHNOLOGY FOUNDATION
Maine Science and Technology Foundation
All Other $300,000
Provides matching funds for the Maine Experimental Program to Stimulate Competitive Research. The Maine Science and Technology Foundation must manage these funds on behalf of the research capacity committee of EPSCoR consistent with the provisions of the Maine Revised Statutes, Title 5, sections 13124-B and 13124-D. Funds appropriated do not lapse and may be carried forward to fiscal year 2002-03.
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