(1) There is created the Rural Employment Expansion Grant Program administered by the office.
(2) The office shall:
(a) review a business entity's application for a grant in the order in which the application is received by the office;
(b) ensure that a grant is only awarded to a business entity that meets the requirements of this part; and
(c) as part of the annual written report described in Section 63N-1a-306, prepare an annual evaluation that provides:
(i) the identity of each business entity that was provided a grant by the office during the year of the annual report;
(ii) the total amount awarded in grants for each county; and
(iii) an evaluation of the effectiveness of the grant in bringing significant new employment to rural communities.
(3) The office may:
(a) authorize a grant for a business entity under this part;
(b) audit a business entity to ensure:
(i) eligibility for a grant; and
(ii) compliance with this part; and
(c) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, and in accordance with the provisions of this part, make rules regarding the:
(i) form and content of an application for a grant;
(ii) documentation or other requirements for a business entity to receive a grant; and
(iii) administration of grants, including an appeal process and relevant timelines and deadlines.