(1) Beginning July 1, 2023, through September 1, 2024, a qualified nonprofit organization may apply to the department for a grant under the Shovel-Ready Capital Recovery and Investment Act. The application shall include, but not be limited to, the following information:

(a) A description of the qualified nonprofit organization's capital project;

(b) The estimated cost of the capital project; and

(c) Documentation on the amount of funds for the capital project which have been received or will be received by the qualified nonprofit organization from other sources. Such amount shall be at least equal to the amount of any grant received under the act. The documentation provided under this subdivision does not need to identify the names of any donors.

(2) The department shall consider applications in the order in which they are received. If an applicant is a qualified nonprofit organization and otherwise qualifies for funding under the Shovel-Ready Capital Recovery and Investment Act, the department shall, subject to subsection (3) of this section, approve the application and notify the applicant of the approval.

(3) The department may approve applications within the limits of available funding. The amount of any grant approved under this section shall be equal to the amount of funds to be supplied by the qualified nonprofit organization from other sources, as documented under subdivision (1)(c) of this section, subject to the following limitations:

(a) For any capital project with an estimated cost of less than five hundred thousand dollars, the grant shall not exceed two hundred fifty thousand dollars;

(b) For any capital project with an estimated cost of at least five hundred thousand dollars but less than five million dollars, the grant shall not exceed one million five hundred thousand dollars;

(c) For any capital project with an estimated cost of at least five million dollars but less than twenty-five million dollars, the grant shall not exceed five million dollars;

(d) For any capital project with an estimated cost of at least twenty-five million dollars but less than fifty million dollars, the grant shall not exceed ten million dollars;

(e) For any capital project with an estimated cost of at least fifty million dollars but less than one hundred million dollars, the grant shall not exceed fifteen million dollars; and

(f) For any capital project with an estimated cost of at least one hundred million dollars, the grant shall not exceed thirty million dollars.