[Code of Federal Regulations]
[Title 34, Volume 1]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR76.561]

[Page 173-174]
 
                           TITLE 34--EDUCATION
 
PART 76--STATE-ADMINISTERED PROGRAMS--Table of Contents
 
Subpart F--What Conditions Must Be Met by the State and Its Subgrantees?
 
Sec. 76.561  Approval of indirect cost rates.

    (a) If the Department of Education is the cognizant agency, the 
Secretary

[[Page 174]]

approves an indirect cost rate for a State agency and for a subgrantee 
other than a local educational agency. For the purposes of this section, 
the term local educational agency does not include a State agency.
    (b) Each State educational agency, on the basis of a plan approved 
by the Secretary, shall approve an indirect cost rate for each local 
educational agency that requests it to do so. These rates may be for 
periods longer than a year if rates are sufficiently stable to justify a 
longer period.
    (c) The Secretary generally approves indirect cost rate agreements 
annually. Indirect cost rate agreements may be approved for periods 
longer than a year if the Secretary determines that rates will be 
sufficiently stable to justify a longer rate period.

(Authority: 20 U.S.C. 1221e-3, 3474, and 6511(a))

[59 FR 59583, Nov. 17, 1994]