Section 23-18-1207 - Rural Broadband I.D. Expenses Trust Fund Grant Program - Additional funding available(a) If an application by a local entity for a federal grant or loan for a broadband development program is made and successfully awarded by the United States Government, then the local entity as grantee shall report and disclose the award received from the United States Government within thirty (30) days of the award notification to the:(1) Institute for Digital Health and Innovation of the University of Arkansas for Medical Sciences;(3) Legislative Council or, if the General Assembly is in session, the Joint Budget Committee; and(4) Joint Committee on Advanced Communications and Information Technology.(b)(1) If an award is made by the United States Government, additional funds shall be disbursed to the local entity as a grantee or awardee, as the grantee designates, to initiate the broadband development project.(2) The additional awards shall be in the amount of two hundred thousand dollars ($200,000).(3) It is anticipated that funds disbursed under this subsection shall defray expenses related to conclusion of the federal grant or loan, including without limitation the expenses of obtaining a letter of credit, a bankruptcy opinion, or eligible telecommunications carrier application expenses, as required by the federal grant or loan awarded.Added by Act 2023, No. 875,§ 28, eff. 7/1/2023.