Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 15 - Commerce and Foreign Trade |
Subtitle A - Office of the Secretary of Commerce |
Part 29 - [Reserved] |
Subpart F - Definitions |
§ 29.650 - Grant.
Latest version.
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Grant means an award of financial assistance that, consistent with 31 U.S.C. 6304, is used to enter into a relationship—
(a) The principal purpose of which is to transfer a thing of value to the recipient to carry out a public purpose of support or stimulation authorized by a law of the United States, rather than to acquire property or services for the Federal Government's direct benefit or use; and
(b) In which substantial involvement is not expected between the Federal agency and the recipient when carrying out the activity contemplated by the award.