                                 CODE OF VIRGINIA

CONDITIONS AND RESTRICTIONS ON FINANCIAL ASSISTANCE (§ 32.1-162.26)

A. The Board shall provide financial support only for research efforts that
satisfy the following conditions:

   1. The research shall be conducted by public institutions of higher education,
   agencies of the Commonwealth, or nonprofit organizations exempt from income
   taxation pursuant to &#xA7; 501(c)(3) of the Internal Revenue Code and located
   in the Commonwealth;

   2. The institution, agency, or organization shall match a percentage of the
   Board&#8217;s support in a cash amount required by the Board;

   3. No support provided by the Board shall be used by the recipient to finance
   capital improvements or renovations, for indirect costs incurred by the
   institution, agency, or organization in its administration of the financial
   support, or for any other purpose proscribed by the Board; and

   4. Recipients of support provided by the Board shall agree to provide the
   Board with such information regarding the implementation of the research
   effort and allow such monitoring and review of the research effort as may be
   required by the Board to ensure compliance with the terms under which the
   support is provided.

B. Any support provided by the Board shall be used by the recipient only for
personal services, contractual services, material, supplies, and equipment
directly relating to the approved research effort.

HISTORY: 1997, cc. 803, 888, 891, § 23-280; 2016, c. 588.