State Matching Share definition

State Matching Share. (SMS) means the $240,000 that is dispersed by the State.
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State Matching Share means State funds in an amount equal to twenty percent (20%) of amounts appropriated and allotted to the State by the federal government for deposit in the Revolving Fund.
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Examples of State Matching Share in a sentence

  • The organization must invest the entire $600,000 ($360,000 local match plus $240,000 State Matching Share).

  • Bank statement showing the $360,000 local match plus $240,000 State Matching Share deposited in an endowment account within a single financial institution which includes the “State of Florida Cultural Endowment Fund” in the title.

  • If this Agreement is terminated, the State Matching Share for each individual cultural endowment shall revert to the State; however, the Organization shall be permitted to retain the interest earned prior to the notification of termination.

  • The $240,000 State Matching Share and all revenues earned from the use of the State Matching Share shall revert to the State if the Department determines that fraudulent information or documentation has in any way been used in its application or for the purposes of obtaining or continuing the endowment program.

  • For the purposes of this program, the Cultural Endowment State Matching Share held as principal by the Cultural Sponsoring Organization shall not be considered “expended” in accordance with section 215.97(2)(a), Florida Statutes, in any fiscal year and shall not be considered toward the Florida Single Audit Act (FSAA) threshold.

  • The Organization shall deposit in its “State of Florida Cultural Endowment Program Fund,” the $240,000 State Matching Share upon receipt and provide the Division with evidence of the deposit within forty-eight hours.

  • Once the Department awards a State Matching Share, the organization is removed from the list.

  • At such time as the funds become available for the distribution of a State Matching Share by the Department, the Department shall release a State Matching Share in the order listed on the Priority List.

  • The Compliance Date is the date the applicant deposited new contributions having a total capital or assessed value of at least $360,000 into the organization's “State of Florida Cultural Endowment Fund.” For the purpose of establishing a Compliance Date, contributions merely pledged shall not constitute any part of the local matching share for which a State Matching Share may be received.

  • Important: The Secretary of State must approve Designation before an organization can be considered eligible to submit an application for a State Matching Share.

Related to State Matching Share

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Matching Contribution means an employer contribution made to this or any other defined contribution plan on behalf of a participant on account of an Employee Contribution made by such participant, or on account of a participant's Elective Deferral, under a plan maintained by the employer.

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Vesting Percentage means the percentage by which the Target Total Award is multiplied as set forth in the chart in Section II below.

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.