Plain Text Law

Regulation .06 Allocation of Funds.

Regulation .06 Allocation of Funds.Copy Citation

The Department annually shall allocate available funds as described below:
A.
Up to 10 percent of the funds shall be placed in a reserve fund for emergency projects and for grant amendments and loan or loan guarantee increases necessitated by change orders and cost overruns;
B.
Not more than 25 percent of the funds not reserved under §A, of this regulation, shall be set aside for grants; and
C.
Funds remaining after the reserve fund and grant fund are established shall be used for loans and loan guarantees.