[Code of Federal Regulations]
[Title 34, Volume 1]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR76.561]

[Page 176]
 
                           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 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]