Illinois Administrative Code
Title 14 - COMMERCE
Part 540 - TECHNOLOGY COMMERCIALIZATION GRANT-IN-AID PROGRAMS
Subpart A - TECHNOLOGY CENTER PROGRAM
Section 540.20 - Definitions
Act - Public Act 83-1349, effective September 8, 1984 (Ill. Rev. Stat. 1984 Supp., ch. 127, par. 46.19 a), which creates the Technology Innovation and Commercialization Program.
Application - A request for program funds including the required statistical and narrative information and attachments.
Department - The Illinois Department of Commerce and Community Affairs.
Financial Aid - Grant to business wherein the Department requires repayment.
Grant - Funds provided from the Department through this program.
Grant Award - Contractual agreement between the Department and recipient, which includes the scope of work to be provided, the budget, and all terms and conditions of the contact.
Nonexpendable Personal Property - Tangible personal property having a useful life of more than one year and an acquisition cost of $300 or more per unit.
Program - The Technology Commercialization Grant-In-Aid Program.
Program Income - Earnings by the recipient realized from grant supported activities.
Project - An activity or activities funded under this program.
Recipient - Any eligible applicant receiving funds under this program.
Amended at 9 Ill. Reg. 15829, effective October 9, 1985