Set-aside funds refer to the money that a state licensing agency receives from a portion of the profits generated by vending facilities within its vending facility program. This includes income from vending machines located on federal properties. These funds are designated specifically for supporting programs that benefit individuals who are blind or visually impaired.
Set-aside funds are primarily used in the context of the Vending Facility Program, which is governed by federal regulations. This term is relevant in areas related to disability rights and rehabilitation services. Users may encounter set-aside funds when navigating programs designed to support individuals with disabilities, particularly those seeking employment opportunities through vending operations. Legal templates from US Legal Forms can assist in managing related documentation.
Here are a couple of examples of abatement:
Example 1: A state licensing agency collects ten percent of the profits from vending machines operated by individuals who are blind. This amount is classified as set-aside funds and is used to support training programs for these individuals.
Example 2: A hypothetical example might involve a state that uses set-aside funds to develop a mentorship program for blind entrepreneurs interested in starting their own vending businesses.
Set-aside funds are defined under 34 CFR 395.1(s), which outlines the regulations governing the Vending Facility Program for the Blind. This federal regulation establishes the framework for how these funds are collected and utilized.
| State | Set-Aside Fund Percentage | Notes |
|---|---|---|
| California | 15% | Higher percentage to support extensive rehabilitation programs. |
| Texas | 10% | Standard rate applied across all vending operations. |
| New York | 12% | Funds allocated for additional training resources. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Set-Aside Funds | Funds from vending profits for specific programs. | Designated for programs benefiting individuals with disabilities. |
| Grant Funds | Monies awarded for specific projects or purposes. | Not limited to vending operations; broader application. |
| Program Income | Income generated from activities supported by federal funds. | Can include various sources, not just vending. |
If you are involved in a vending facility program, it's important to understand how set-aside funds may impact your operations. Consider consulting with a legal professional to ensure compliance with regulations. Additionally, you can explore US Legal Forms for templates that may help you manage related documentation effectively.
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They are used to support training and employment programs for individuals with disabilities.