Financial assistance provided by the corporation. State assistance.

(b) State assistance to match the philanthropic enterprise's contribution may be provided to the corporation while its application for tax exempt status, as described in subsection (c) of section 10-265aa , is pending. If such status is denied, the corporation shall promptly repay such state assistance to the state. (c) State assistance may be provided to the corporation through contractual arrangements as may be agreed upon by the corporation and the Secretary of the Office of Policy and Management.