Page:United States Statutes at Large Volume 108 Part 1.djvu/119

 PUBLIC LAW 103-218—MAR. 9, 1994 108 STAT. 93 • SEC. 303. GRANT ADMINISTRATION REQUIREMENTS. 29 USC 2283. "A State that receives a grant under section 301, together with any community-based organization that enters into a contract with the State to administer an alternative financing mechanism that is supported under section 301, shall develop and submit to the Secretary, pursuant to a timeline that the Secretary may establish or, if the Secretary does not establish a timeline, within the 12-month period beginning on the date that the State receives the grant, the following policies or procedures for administration of the mechanism: "(1) A procedure to review and process in a timely fashion requests for financial assistance for both immediate and potential technology needs, including consideration of methods to reduce paperwork and duplication of effort, particularly relating to need, eligibility, and determination of the specific device or service to be provided. "(2) A policy and procedure to assure that access to the alternative financing mechanism shall be given to consumers regardless of type of disability, age, location of residence in the State, or type of assistive technology device or assistive technology service requested and shall be made available to applicants of all income levels. "(3) A procedure to assure consumer-controlled oversight. -SEC. 304. FINANCIAL REQUIREMENTS. 29 USC 2284. "(a) FEDERAL SHARE.—The Federal share of the costs described in section 301(a) shall be not more than 50 percent. "(b) REQUIREMENTS.— ^A State that desires to receive a grant under section 301 shall include in the application submitted under section 302 assurances that the State will meet the following requirements regarding funds supporting an alternative funding mechanism assisted under section 301: "(1) The State shall make available the funds necessary to provide the non-Federal share of the costs described in section 301(a), in cash, from State, local, or private sources. "(2) Funds that support an alternative financing mechanism assisted under section 301— "(A) shall be used to supplement and not supplant other Federal, State, and local public funds expended to provide public funding options; and "(B) may only be distributed through the entity carry- ing out the alternative financing mechanism as a payer of last resort for assistance that is not available in a reasonable or timely fashion from any other Federal, State, or local source. "(3) All funds that support an alternative financing mechanism assisted under section 301, including funds repaid during the life of the mechanism, shall be placed in a permanent separate account and identified and accounted for separately from any other fund. Funds within this account may be invested in low-risk securities in which a regulated insurance company may invest under the law of the State for which the grant is provided and shall be administered with the same judgment and care that a person of prudence, discretion, and intelligence would exercise in the management of the financial affairs of such person.

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