Funds used under the provisions of this subchapter shall adhere to the following criteria:
(1) Be used for the purposes of matching an approved grant from an eligible federal agency, limited to the following: The National Science Foundation;
(2) The National Institutes of Health;
(3) The United States Department of Energy;
(4) The United States Department of Defense;
(5) The United States Environmental Protection Agency;
(6) The National Aeronautics and Space Administration;
(7) The United States Department of Agriculture;
(8) The United States Department of Transportation;
(9) The United States Department of Commerce;
(10) The United States Department of Education; and
(11) The United States Department of Homeland Security;
(12) Proposals for federal funds that contain a specific state or federal match requirement, for the purposes of this subchapter, shall not be matched at a rate of more than fifty percent (50%), except that any portion of the match over fifty percent (50%) may be borne by the college or university.
(13) Proposals for federal funds that do not contain a specific state or federal match requirement, for the purposes of this subchapter, shall not be matched at a rate of more than ten percent (10%), provided that the state share is matched dollar for dollar by the college or university for a combined match of not more than twenty percent (20%), except that any portion of the match over twenty percent (20%) may be borne by the college or university; and
(14) A state financial match requirement of at least twenty thousand dollars ($20,000) for equipment matching and at least fifty thousand dollars ($50,000) for research project matching.