Section 51:2370.32 - Reimbursement for granteesA. GUMBO 2.0 awards shall be made on a fixed-amount subaward basis, consistent with NTIA's Tailoring the Application of the Uniform Guidance Policy Notice, and an initial ten percent disbursement shall be made available immediately upon entering into a subgrantee agreement.B. Except as provided in Subsection C of this Section, the next ten percent of the subgrant award shall be provided based on provider certification and the office's verification that ten percent of the eligible locations have been reached. The remaining disbursements shall be given at the thresholds of completion of thirty-five percent, sixty percent, eighty-five percent, and one hundred percent. The final disbursement for one hundred percent completion shall be given only after verification of one hundred percent deployment to eligible locations, within the mandatory forty-eight months maximum deadline, which may be extended up to a year by the office or another shorter timeline certified by the applicant. The office shall disburse funds only for completed deployments that comply with the terms included in the successful application and shall withhold funds for failure to do so.C. Notwithstanding any other provision of law to the contrary, the office may disburse on any basis that may be necessary to effectuate option 2.4, Subgrantee Option for Alternative Initial LOC or Performance Bond Percentage made available in the BEAD Letter of Credit Waiver issued by NTIA on November 1, 2023, and the office may give full effect to that option as a means of enabling a subgrantee to satisfy the GUMBO 2.0 letter of credit requirement. Amended by Acts 2024, No. 632,s. 1, eff. 8/1/2024.Added by Acts 2023, No. 383,s. 1, eff. 8/1/2023.