Code of Massachusetts Regulations
946 CMR - MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
Title 946 CMR 8.00 - RATES
Section 8.04 - Voucher Eligibility Requirements
Universal Citation: 946 MA Code of Regs 946.8
Current through Register 1531, September 27, 2024
(1) Vouchers awarded shall be limited, with no exceptions, as set forth in M.G.L. c. 75, § 45C as follows:
(a) eligible Companies with the full time equivalent of not more than ten employees may receive a Voucher that covers up to 75% of the cost of the rate of the Core Facilities;
(b) eligible Companies with the full time equivalent of 11 to 50 employees may receive a Voucher for not more than 50% of the cost of the rate of the Core Facilities; and
(c) Companies with 51 or more employees shall not be eligible for the Voucher program.
(2) As determined by UMass and unless granted an exception by UMass, the initial Eligibility Criteria for Vouchers under the Fund sets forth that:
(a) The Company's potential use or project to be performed or made in the Core Facilities must not cause harm or damage to the Core Facilities;
(b) Vouchers shall not be used to directly compensate non-Core Facility related faculty or students;
(c) Companies must demonstrate that they are advancing the goals of job growth creation, innovation and economic development; and
(d) Companies must be headquartered in Massachusetts and registered to do businesses in Massachusetts with the Secretary of State.
Additional criteria for consideration in reviewing applications from eligible Companies may be set forth in the Guidelines.
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