(1) In order to receive grants from the fund under KRS 147A.320, a qualified community foundation, county-specific component fund, or affiliate community foundation shall substantially comply with the national standards for community foundations established by the National Council on Foundations, and be certified by the commission. The commission may charge a nonrefundable administrative fee to cover the costs associated with the certification process, not to exceed one thousand dollars ($1,000) per certification application.
(2) The commission shall:
(a) Maintain a current list of all qualified community foundations, county-specific component funds, and affiliate community foundations which are certified. This list shall be:
1. Published on a Web site which is accessible to the general public; and 2. Provided to the Department for Local Government and the Department of Revenue; and (b) Perform a biennial review of each qualified community foundation, county- specific component fund, and affiliate community foundation which has been certified to ensure that it remains in compliance with all requirements mandated by this section or by administrative regulation.
(3) The commission may promulgate administrative regulations in accordance with KRS Chapter 13A to administer this section.