R856-2-8. Grant Amount, Award, and Required Contract

  (1) USTAR will have the discretion to limit the maximum amount of funding that may be awarded for each IPP grant based on available funds, scope of project, and quality of proposal.

  (2) USTAR reserves the right to award funding for any proposal in full or in part, to request additional information, or to reject any or all applications based on the eligibility and evaluation criteria set forth in these rules and according to the judgment and discretion of USTAR and the governing authority. USTAR also reserves the right to certify any agreements between university and company on IP terms and confidentiality, publishing embargos, etc.

  (3) Upon award of an IPP grant, and prior to any disbursement of funds, university must enter into a contract with USTAR governing the use of IPP grant funding.

  (4) Unless addressed in the terms and conditions of the contract between university and USTAR, the following provisions shall apply:

  (a) Company must maintain a substantial presence in the state for at least five years subsequent to initial disbursement of grant funds;

  (b) IPP grant funding may not be used to provide a primary benefit to any state other than Utah; and,

  (c) for all other eligibility requirements, awardees must maintain eligibility status for the IPP program until the project is complete, all milestones have been met, final disbursement of funding has been made, and first year reporting has been completed.

  (5) Violations of Subsection R856-2-8(4) of this section may result in forfeiture of grant funding and may require repayment of all or a portion of the funding received as part of the IPP grant.