Iowa HF2304 sets a 5% cap on indirect costs for state-funded grants, requiring documentation and compliance.

Iowa HF2304 establishes a uniform limit on indirect costs charged to state-funded grants, ensuring that no more than 5% of the total grant amount can be allocated to indirect costs. The bill mandates that grant budgets must separately list indirect and direct costs, with a narrative explaining the indirect cost calculation. Grantees must maintain records related to indirect costs for at least ten years.

Iowa HF2304 sets a 5% cap on indirect costs for state-funded grants, requiring documentation and compliance.

Iowa HF2304 establishes a uniform limit on indirect costs charged to state-funded grants, ensuring that no more than 5% of the total grant amount can be allocated to indirect costs. The bill mandates that grant budgets must separately list indirect and direct costs, with a narrative explaining the indirect cost calculation. Grantees must maintain records related to indirect costs for at least ten years.