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(a) At the time the division awards a grant under this chapter, the division will determine the amount of the contribution required of the grantee under AS 47.65.040 and will notify the grantee of that amount. The grantee may
(1) contribute the entire amount required by AS 47.65.040 before the division makes the second payment under the grant to the grantee; or
(2) prepare a written schedule of contributions and, if the division approves the schedule, make the required contribution in installments in accordance with the schedule.
(b) Except as provided in (c) of this section, a written schedule of contributions under (a)(2) of this section must provide for installments which
(1) are required by the dates on which the division will make the third and subsequent payments under the terms of the grant; and
(2) in relation to the total required contribution, are approximately equal to the value of the corresponding grant payments in relation to the total grant.
(c) The division will, in its discretion, waive the requirements of (b) of this section if the division determines that there is good cause for the waiver.
(d) The division may withhold payments under the grant until the grantee either contributes the entire required amount under (a)(1) of this section or contributes the amount required by the written schedule of contributions under (a)(2) of this section. If the amount of a contribution made by a grantee under a written schedule of contributions exceeds the amount required under the schedule for an installment, the grantee may credit the excess amount to the subsequent installment.
History: Eff. 4/26/81, Register 78
Authority: AS 47.65.040
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Last modified 7/05/2006