Section 1649.303 - Ben Franklin Technology Development Authority(a) Allocation.--The sum of $40,000,000 shall be transferred by the authority to the Ben Franklin Technology Development Authority. Funds under this subsection shall be transferred to the Ben Franklin Technology Partners for energy-related investments to support early-stage activities, including incubator support services, management support, translational research, company investment, early-stage research of other programs or administrative activities to develop and implement alternative energy technologies and energy efficiency technologies. Funds allocated under this paragraph shall be distributed equally among the Ben Franklin Technology Partners.(b) Guidelines.--Funds allocated under this section shall be used in accordance with guidelines of the Ben Franklin Technology Development Authority Board. The guidelines shall seek to ensure that minority-owned, women-owned and other disadvantaged businesses have the opportunity to substantially participate in funding activities undertaken pursuant to this section. The guidelines shall be posted on its official Internet website.(c) Application.--An applicant for funds under this section shall submit an application including any supporting information as required by the Ben Franklin Technology Development Authority.(d) Administrative costs.--No more than 1% of funds allocated to the Ben Franklin Technology Development Authority shall be used for administrative costs.(e) Reporting.--By April 1 of each year, the Ben Franklin Technology Development Authority shall provide an annual report to the chairman and minority chairman of the Appropriations Committee of the Senate and the chairman and minority chairman of the Appropriations Committee of the House of Representatives. The report shall be posted and maintained on its official Internet website. The report shall include a list of all funds distributed under subsection (a), the recipients of the funds, the technology to be developed, a description of how the investments of the partners through this program will achieve the goals of this act, including saving energy, in this Commonwealth and other details relating to the project. 2008, July 9, P.L. 1873, No. 1 (Spec. Sess. No. 1), § 303, imd. effective.