[§304A-2254]  Discoveries and inventions
revolving fund.  There is established a discoveries and inventions
revolving fund into which shall be deposited a portion of the total indirect
overhead funds generated by the university for research and training purposes
in the prior fiscal year, as determined by the board of regents. 
Appropriations by the legislature subject to the approval of the governor,
proceeds from the commercial exploitation of inventions and intellectual
property developed at the university, gifts, donations, fees collected, and
grants from public agencies and private persons may also be deposited into the
fund for the purposes of supporting innovation and research commercialization
and the patenting, copyrighting, licensing, and marketing of discoveries,
inventions, and technologies developed at the university.  The fund shall be
used to develop technologies that have potential commercial value, support the
administration of technology transfer activities, and facilitate economic
development through education and research undertaken at the university. [L
2006, c 75, pt of §2]