Common use of Exemptions Clause in Contracts

Exemptions. 8.5.1 Where more than one State agency is a recipient of Federal funds under a program, a particular State agency's funding may be excluded from interest calculation procedures if the State agency receives an amount of funds less than 5 % of the State's threshold for major Federal assistance programs. Notwithstanding this potential exemption, however, in no case shall less than 90% of a program's total funding be subject to interest calculation procedures.

Exemptions. 8.5.1 Where more than one State agency is a recipient of Federal federal funds under a program, a particular State agency's funding may be excluded from interest calculation procedures tracking provisions if the State agency receives an amount of funds less than 5 5% of the State's threshold for major Federal federal assistance programs. Notwithstanding this potential exemption, however, in no case shall less than 90% of a program's total funding be subject to interest calculation procedures.