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SF 3702 Senate Long Description

Minnesota Knowledge Transfer, Inc. Act ; establishing Minnesota Knowledge Transfer, Inc. as a public corporation to enhance the economy through preparation of a highly skilled and adaptable workforce meeting the opportunities and needs of the state; providing for governance by a board of directors and for organization; subjecting board meetings to the open meeting law, authorizing closed meetings by majority vote of the board of directors, specifying certain recordkeeping requirements; classifying certain application, investigative and student data; prohibiting certain conflicts of interest by directors, employees or officers of the corporation; requiring disclosure to the campaign finance and public disclosure board of director contributions to public officials or political committees, funds or parties and requiring directors and officers to file statements of economic interest with the board; providing for the payment of tort claims; providing for the appointment, compensation and status of employees; specifying powers and duties of the corporation, authorizing the construction, acquisition, lease, ownership or operation of training and educational facilities and matching grants to public and private post-secondary education institutions for educational research and development; requiring the board of directors to contract with a certified public accounting firm for audit purposes; requiring board annual reports to the legislature, governor and board of trustees of the Minnesota state colleges and universities (MnSCU) on the activities of the corporation, specifying certain report content requirements; providing for dissolution of the corporation (ra)