HF 1108

as introduced - 89th Legislature (2015 - 2016) Posted on 02/19/2015 01:51pm

A bill for an act
relating to higher education; appropriating money for the University of
Minnesota and Mayo Foundation Partnership; requiring a report.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin UNIVERSITY OF MINNESOTA AND MAYO FOUNDATION
PARTNERSHIP.
new text end

new text begin $8,000,000 in fiscal year 2016 and $8,000,000 in fiscal year 2017 are appropriated
from the general fund to the Board of Regents of the University of Minnesota. This
appropriation is for the direct and indirect expenses for the collaborative research
partnership between the University of Minnesota and the Mayo Foundation for research
in biotechnology and medical genomics. This appropriation is available until expended.
All parties to the partnership must be consulted before the Board of Regents reduces the
amount allocated to the partnership under this section. An annual report on the expenditure
of these funds must be submitted to the governor and the chairs of the senate and house of
representatives committees responsible for higher education and economic development
by June 30 of each fiscal year. Beginning in fiscal year 2018, the base appropriation for
the University of Minnesota and Mayo Foundation Partnership is $8,000,000 each year.
new text end