261—404.3(15) Funding and award terms.
	404.3(1) For each fiscal year that funds are available, the board will determine the amount of funds available to be awarded as grants in that fiscal year.
	404.3(2) If any funds are allocated to a specific grant activity but are not awarded after a funding cycle, the board may reallocate those funds to a different grant activity.
	404.3(3) The board may reallocate any recaptured funds to a different grant activity.
	404.3(4) The maximum grant award is $1 million per application. The minimum grant award is $10,000 per application.
	404.3(5) The initial duration of a grant agreement will be no longer than three years. However, a recipient may apply for a no-cost extension of an agreement. If the approval of a no-cost extension would cause the duration of the grant agreement to exceed five years, the no-cost extension will not be granted.
[ARC 8072C, IAB 6/26/24, effective 7/31/24]