§ 4824 - State financial assistance awards - Vermont Statutes

§ 4824. State financial assistance awards

(a) State grant. State financial assistance awarded under this subchapter shall be in the form of a grant. When a state grant is intended to match federal financial assistance for the same on-farm improvement project, the state grant shall be awarded only when the federal financial assistance has also been approved or awarded. An applicant for a state grant shall pay at least 15 percent of the total eligible project cost. The dollar amount of a state grant shall be equal to the total eligible project cost, less 15 percent of the total as paid by the applicant, and less the amount of any federal assistance awarded, except that a state grant shall not exceed 80 percent of the total eligible project cost.

(b) Farmer contract. A state grant awarded to an applicant under this subchapter shall be awarded in accordance with a state contract containing contract terms substantially the same as those required for receipt of a federal award for the same purpose from the U.S. Department of Agriculture, except as provided by the secretary by rule. (Added 1995, No. 62, § 37, eff. April 26, 1995; amended 2003, No. 42, § 2, eff. May 27, 2003; 2007, No. 112 (Adj. Sess.), § 3, eff. May 3, 2008.)