|(a) Purpose. The purpose of this program is to provide matching funds to assist eligible public institutions in leveraging private gifts for the enhancement of research productivity and faculty recruitment. (b) Authority. (1) Texas Education Code, §62.122, establishes the Texas Research Incentive Program to provide matching funds to assist eligible public institutions in leveraging private gifts for the enhancement of research productivity and faculty recruitment. (2) Texas Education Code, §62.123, establishes the rate of matching and authorizes the Board, to establish procedures for the certification of gifts. (3) Texas Education Code, §62.124, authorizes the Board, to adopt rules for the administration of the program. (c) Definitions. (1) Bundled Gifts--Gifts that would otherwise be an eligible gift, but that individually do not have sufficient monetary value to be eligible for Matching Grants, that are combined by the eligible public institution in an attempt to establish eligibility for Matching Grants. (2) Date of Certification--The date the gift was deposited by the institution in a depository bank or invested by the institution as authorized by law. A non-cash gift shall be certified as the date the gift is converted to cash, and is considered to have been received on that date. (3) Eligible Funds--Gifts or endowments certified on or after September 1, 2009, to an eligible public institution from private sources in a state fiscal year for the purpose of enhancing research activities at the institution, including a gift or endowment for endowed chairs, professorships, research facilities, research equipment, program costs, or graduate research stipends or fellowships. Including gifts that are bundled from a private source. All gifts, cash and non-cash, must have been originally donated for research purposes. (4) Eligible Public Institution--An institution of higher education designated as an emerging research university under the Coordinating Board's Accountability System or a university affiliated entity of an emerging research university. (5) Gift--A contribution received by an institution for which the institution has made no commitment of resources or services that provide a direct benefit to the donor other than committing to use the gift as the donor specifies. Gifts include cash, cash equivalents, marketable securities, closely held securities, money market holdings, partnership interests, personal property, real property, minerals, and life insurance proceeds. (6) Ineligible Funds--A gift for undergraduate scholarships or grants, bundled gifts, or any portion in excess of $10 million of gifts or endowments received from a single source in a state fiscal year or gifts that are bundled by an universities-associated entity. (7) Private Sources--Any individual or entity that cannot levy taxes, and is not directly supported by tax funds. (8) Program--The Texas Research Incentive Program (TRIP) established under Texas Education Code, Chapter 62, Subchapter G. (9) University-Affiliated Entity--An entity whose sole purpose is to support the mission or programs of university. (d) Matching Grants. Eligible funds will be matched at the following rates: (1) 50 percent of the amount if the amount of a gift or endowment made by a donor on a certain date is at least $100,000, but not more than $999,999; (2) 75 percent of the amount if the amount of a gift or endowment made by a donor on a certain date is at least $1 million but not more than $1,999,999; or (3) 100 percent of the amount if the amount of a gift or endowment made by a donor on a certain date is $2 million but not more than $10 million. (e) Distribution of matching grants. (1) Matching grants will be distributed in order of the date of certification. (2) All eligible funds with the same date of certification will be considered in a block. (3) If there are insufficient funds to match eligible funds with the same date of certification, those eligible funds will be prorated and any remaining unmatched eligible funds shall be eligible for matching grants in the following fiscal years using funds appropriated to the program, to the extent funds are available. (f) Certification. Any gift must be certified by the Board in order to be considered eligible for Matching Grants. In order for a gift to be certified, the eligible public institution must submit the following information to the Board: (1) A written statement by the bank verifying the amount, and date of the deposit, and name of the donor; or a credit card certification showing the date the institution submitted a charge to the donor's credit card company for payment; (2) A copy of the fully executed donor agreement describing the purpose and the restrictions of the gift meeting the definition of eligible funds; and (3) All information must be provided to the Coordinating Board within 30 days of the date of bank or credit card verification. (g) Eligible public institutions shall provide a complete list of all university-affiliated entities to the Board upon initial application for matching grants and thereafter apprise the Board of any updates to the submitted list. (h) If for any reason any portion of a donation matched by this program is returned to the donor or for any other reason is no longer eligible for matching, the institution must take the following actions within 30 days of the change: (1) The institution must notify the Board as to the amount and date of the change; and (2) The institution must repay the match to the Board. In the event that only a portion of the donation is no longer eligible for matching, the institution may only retain the portion of the match that corresponds to the portion of the donation that remains eligible for matching.