§ 6906. Matching requirements

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(a)In general Financial assistance under this chapter shall be matched with funds from sources other than the Federal Government on the basis of not less than 50 percent of each dollar provided by the Administration.

(b)Sources of matching funds Fees, grants, gifts, funds from loan sources, and in-kind resources of a grant recipient from public or private sources may be used to comply with the matching requirement in subsection (a).

(c)Exception

(1)In general In the case of an applicant for assistance under this chapter with severe constraints on available sources of matching funds, the Administrator may reduce or eliminate the matching requirements of subsection (a).

(2)Limitation Not more than 10 percent of the total funds made available from the Administration in any fiscal year to carry out this chapter may be excepted from the matching requirements of subsection (a), as authorized by paragraph

(1)of this subsection.

(Pub. L. 103–325, title I, § 177, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)

Connections2 cite this

Cited by 2 sections

statutes-at-large

Public Law 106–102
To enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, insurance companies, and other financial service providers, and for other purposes

bill

Sec. 202
Microenterprise Technical Assistance and Capacity Building Program

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Pub. L. 103–325, title I, § 177
Pub. L. 106–102, title VII, § 725
113 Stat. 1474

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§ 6906

Matching requirements

Bills×1

Stat.×1

Pub. L.Pub. L. 103–325, title I, § 177

Pub. L.Pub. L. 106–102, title VII, § 725

Stat.113 Stat. 1474

Cites 3Cited by 2 across 2 sources