HF 1575

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:53am

A bill for an act
relating to science and technology; establishing a matching grant program;
appropriating money; amending Minnesota Statutes 2008, section 116J.657, by
adding a subdivision.

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

Section 1.

Minnesota Statutes 2008, section 116J.657, is amended by adding a
subdivision to read:

new text begin Subd. 5a. new text end

new text begin Matching grants. new text end

new text begin A technology matching grant program is created in the
office to provide financial assistance for commercialization activities under subdivision
5. Funds may be used to provide research and development matching grants to Small
Business Innovation and Research and Small Business Technology Transfer award
recipients to assist the spinout of technology from nonprofit research institutions and other
activities including but not limited to collaborations between government, industry, and
academic institutions to promote commercialization and job creation.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2009.
new text end

Sec. 2. new text begin OFFICE OF SCIENCE AND TECHNOLOGY APPROPRIATION.
new text end

new text begin $2,000,000 each year beginning in fiscal year 2010 is appropriated from the general
fund to the commissioner of employment and economic development for the Office of
Science and Technology. Of this amount, $1,000,000 each year is for technology matching
grants under Minnesota Statutes, section 116J.657.
new text end