related research universities for the purposes of developing
and leveraging the research capabilities of the universities
for the creation of well-paying jobs and enhanced economic
opportunities in accordance with this act.
(3) The use of money under this chapter may include
creating incentives in accordance with section 502 to lure,
maintain and keep a cutting-edge knowledge base.
Section 502. Eligibility.
(a) Distribution.--The department may make distributions
from the fund, subject to the terms, conditions and restrictions
provided under this chapter, for the purpose of making grants to
public-private partnerships, contracting authorities and State-
related institutions conducting or facilitating advanced
manufacturing, including, but not limited to, the following:
(1) Advancement in the fields of industrial processes,
mining, manufacturing, production agriculture, information
technology and biotechnology.
(2) Service as a medical facility or in other industrial
or technology sectors as defined by the department.
(3) The acquisition and installation of new machinery
and equipment, upgrading existing machinery and equipment or
retrofitting existing facilities with new or high-demand
technologies as defined by the department.
(b) Grants.--Grants shall be subject to the following
conditions:
(1) Grants shall be made to eligible public-private
partnerships, contracting authorities and State-related
institutions under this chapter.
(2) Grants shall be designed to include the purchase and
installation of new equipment and machinery, the upgrade of
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