Illinois Administrative Code
Title 14 - COMMERCE
Section 540.20 - Definitions

Universal Citation: 14 IL Admin Code ยง 540.20
Current through Register Vol. 47, No. 38, September 22, 2023

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

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