7 CFR 3419.3 – Limited waiver authority
(a) 1890 land-grant institutions: The Secretary may waive the matching funds requirement in § 3419.2 above the 50% level for any fiscal year for an eligible institution of a State if the Secretary determines that the State will be unlikely to satisfy the matching requirement.
Terms Used In 7 CFR 3419.3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) 1862 land-grant institutions in insular areas: The Secretary may waive up to 100% of the matching funds requirements in § 3419.2 for any fiscal year for an eligible institution in an insular area.
(c) The criteria to waive the applicable matching requirement for 1890 land-grant institutions and 1862 land-grant institutions in insular areas is demonstration of one or more of the following:
(1) Impacts from natural disaster, flood, fire, tornado, hurricane, or drought;
(2) State and/or institution facing a financial crisis; or
(3) Lack of matching funds after demonstration of good faith efforts to obtain funds.
(d) Approval or disapproval of the request for a waiver will be based on the application submitted, as defined under § 3419.4.