36-276

36-276. Biotechnology research; appropriation;
purpose; audit; reversion

(RPLD. 1/1/13)

A. FOR FISCAL YEARS 2002-2003 THROUGH 2011-2012, THE SUM OF FIVE HUNDRED
THOUSAND DOLLARS IS APPROPRIATED IN EACH FISCAL YEAR FROM THE HEALTH RESEARCH FUND
ESTABLISHED BY SECTION 36-275 TO THE COMMISSION FOR ALLOCATION TO A NONPROFIT MEDICAL
RESEARCH FOUNDATION IN THIS STATE THAT SPECIALIZES IN BIOTECHNOLOGY AND THAT COLLABORATES
WITH UNIVERSITIES, HOSPITALS, BIOTECHNOLOGY AND HEALTH SCIENCE RESEARCH CENTERS AND OTHER
PUBLIC AND PRIVATE BIOTECHNOLOGY BUSINESSES IN THIS STATE. THE FOUNDATION MUST MATCH THE
ALLOCATION DOLLAR FOR DOLLAR.

B. DUE TO THE MATCHING MONIES REQUIREMENT, THE EXPENDITURE OF MONIES
APPROPRIATED PURSUANT TO THIS SECTION IS EXEMPT FROM THE PROCUREMENT CODE AND
SOLICITATION AND AWARD OF GRANT REQUIREMENTS OF TITLE 41, CHAPTERS 23 AND 24.

C. THE RECIPIENT OF MONIES RECEIVED PURSUANT TO THIS SECTION SHALL COMMISSION
AN AUDIT OF THE EXPENDITURE OF THESE MONIES AND SUBMIT A COPY OF THE AUDIT TO THE
COMMISSION ON OR BEFORE DECEMBER 31 OF EACH YEAR.

D. THE RECIPIENT OF THE MONIES RECEIVED PURSUANT TO THIS SECTION MUST RETURN
UNEXPENDED AND UNENCUMBERED MONIES TO THE COMMISSION WITHIN NINETY DAYS AFTER THE END OF
THE FISCAL YEAR.

E. IF THE COMMISSION DOES NOT ALLOCATE ANY MONIES PURSUANT TO THIS SECTION BY
JANUARY 1, 2005, THE COMMISSION SHALL NOTIFY THE SPEAKER OF THE HOUSE OF REPRESENTATIVES
AND THE PRESIDENT OF THE SENATE IN WRITING OF THIS FACT.