281—27.7 (260C) Annual plan and progress report approval.
	   27.7(1) The state board of education shall review and consider approval of reports and plans submitted pursuant to 281—27.4(260C).
	   27.7(2) The state board of education may reject a plan or progress report for any of the following reasons, including but not limited to:
	      a.    	 Incomplete information or data;
	      b.    	 Seventy percent of fund expenditures not utilized for projects in the areas of advanced manufacturing; information technology and insurance; alternative and renewable energy including the alternative and renewable energy sectors listed in Iowa Code section 476.42(1)“a”; and life sciences which include the areas of biotechnology, health care technology, and nursing care technology;
	      c.    	 Project not operated in compliance with state or federal law.
[ARC 1662C, IAB 10/15/14, effective 11/19/14]