§ 16-60-8.1 - Regents recovery for indirect costs.
SECTION 16-60-8.1
§ 16-60-8.1 Regents recovery for indirectcosts. – The regents shall apply for recovery of indirect cost when recovery ispermissible under federal statute and grant regulations. All funds received forindirect costs recovery shall be turned over to the general treasurer and shallbe placed in a restricted account for specific purposes designated by theregents. The regents shall annually report to the general assembly theestimated amount of federal indirect cost recoveries for the next fiscal yeartogether with the intended use of the funds.