1.  A department, institution or agency of the Executive Department of the State Government that is required to have the approval of the Interim Finance Committee to accept a grant from the Federal Government and revise a work program to implement the grant may, upon submission of the application for the grant to the Federal Government, request that the Interim Finance Committee grant provisional approval for the department, institution or agency to accept the grant and revise the work program.

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2.  The Secretary of the Interim Finance Committee shall place a request submitted pursuant to subsection 1 on the agenda at the next meeting of the Interim Finance Committee.

3.  If the Interim Finance Committee grants provisional approval for the department, institution or agency to accept the grant and revise the work program pursuant to subsection 1, the department, institution or agency is not required to obtain any additional approval from the Interim Finance Committee pursuant to NRS 353.220 and 353.335, unless the actual amount of the grant or change to the work program exceeds the greater of:

(a) The amount provisionally approved by the Interim Finance Committee, plus 10 percent; or

(b) The amount provisionally approved by the Interim Finance Committee, plus $75,000.