HF 3304

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; establishing a grant program for innovative
technology and economic development research at the University of Minnesota;
appropriating money; proposing coding for new law in Minnesota Statutes,
chapter 137.

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

Section 1.

new text begin [137.345] INNOVATIVE TECHNOLOGY AND ECONOMIC
DEVELOPMENT RESEARCH GRANT PROGRAM.
new text end

new text begin With appropriations for this purpose, the Board of Regents, through the Office of
the Vice President of Research, must award grants to fund innovative technology and
economic development research and outreach projects. In awarding grants under this
section, the vice president of research must:
new text end

new text begin (1) receive project proposals from University of Minnesota researchers;
new text end

new text begin (2) provide a review process for the proposals that includes review by appropriate
professionally qualified reviewers;
new text end

new text begin (3) establish criteria for awarding grants that provides at least equal consideration to
the potential for commercial viability of the proposed projects; and
new text end

new text begin (4) specify the amount and duration of the award for each project funded by a grant.
new text end

new text begin By February 1 of each odd-numbered year, the board must report to the committees
of the legislature with responsibility for higher education finance and economic
development on the grants awarded under this section, the duration of the funded projects,
and the projects' relationship to the Minnesota economy.
new text end

Sec. 2. new text begin APPROPRIATION; BOARD OF REGENTS OF THE UNIVERSITY
OF MINNESOTA.
new text end

new text begin $750,000 is appropriated from the general fund to the University of Minnesota
for fiscal year 2009 for innovative technology and economic development research
grants under section 1. Beginning in fiscal year 2010, $750,000 each year is added to the
University of Minnesota base appropriation for the purposes of section 1.
new text end