This rule establishes the USTAR University Technology Acceleration Grants program and describes the eligibility criteria for an entity to receive a grant under Section 63M-2-503, including: 1) the form and process of submitting a grant application; 2) a description of which entities are eligible to apply for a grant; 3) the specific categories of projects that are eligible for a UTAG; 4) the criteria for awarding grants and determining grant amount; and 5) the contracting and reporting requirements of grant recipients. The repeal and reenact is to: 1) clarify and codify the language in the administrative rule for the grant; 2) update terms and conditions for entities eligible to apply for the grant, criteria for evaluating and awarding grant funding, and contracting and reporting requirements of grant recipients; 3) make USTAR administrative rule language similar across grant programs; and 4) general cleanup.