The board of library commissioners shall, subject to appropriation, establish and administer a program of state assistance to cities and towns in the planning, reconstruction, construction, design, acquisition of real property, renovation, preservation, rehabilitation, demolition or expansion of a facility to be used as a free public library.
The board may, in accordance with the provisions of this section and sections nineteen H to nineteen K, inclusive, provide grant funds to such cities and towns which apply for funding of projects authorized by this section; provided, however, that said grant shall not exceed seventy-five per cent of the cost of an approved library project, including interest and the cost of planning thereof.