Montana Code 22-2-309. Grant categories
22-2-309. Grant categories. (1) The following categories are established for grant funds:
Terms Used In Montana Code 22-2-309
- Devise: To gift property by will.
- Donor: The person who makes a gift.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
(a)special projects which are specific cultural and aesthetic activities, services, or events of limited duration;
(b)operational support for cultural institutions that have been in existence for at least 2 years and whose budgets reflect only the cost of continuing their current program;
(c)capital expenditures for acquisition, construction, or renovation of facilities; and
(d)challenge grants for permanent endowments to benefit cultural nonprofit grant recipients.
(2)The Montana arts council may require a match in cash or donated services for special project and operational support grants. There is a presumption that the match must represent $1 in value for each dollar of the grant. The Montana arts council may accept matches in excess of the presumed value or may in its discretion require a lesser amount.
(3)Capital expenditures may not exceed 25% of the total grant funds appropriated. Capital expenditure grants require a match of at least $3 in cash or donated goods and services, which goods and services must be donated specifically for the capital expenditure project, to receive each dollar of grant funds.
(4)Challenge grants require a match of at least $3 in cash or irrevocable planned or deferred gifts to receive each dollar of grant funds. Challenge grants are available upon meeting the specified match. Not less than one-third of the specified match must be in cash. Not more than one-third of the match may be in wills, devises, bequests, and paid-up life insurance policies. A devise may include retention of an irrevocable life estate by the donor.