1. Grant means a legal instrument of financial assistance between a state grant-making entity and a private nonprofit corporation that is: (a) Used to enter into a relationship for which the principal purpose is to transfer anything of value from the state grant-making entity to the private nonprofit corporation to carry out a public purpose authorized by law and not to acquire real property or services for the direct benefit or use of the state grant-making entity; (b) Used to provide for one or more payments in reimbursement for services or other performance under the agreement on a scheduled or other incremental basis; and (c) Distinguished from a cooperative agreement in that it does not provide for substantial involvement between the state grant-making entity and the private nonprofit corporation in carrying out the activity contemplated by the award. 2. The term does not include an instrument that provides only: (a) Direct government cash assistance to a person; (b) A subsidy; (c) A loan; (d) A loan guarantee; (e) Insurance; (f) State funding that is required annually and is calculated based on a formula set in statute; or (g) Proceeds from a general obligation bond.
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