HB 1671 -- Life Sciences Research

Sponsor:  Hanaway

Beginning in Fiscal Year 2007, this bill authorizes the president
of any public university in Missouri to present to the Life
Sciences Research Board on behalf of any campus within its
system:

(1)  A commitment from any budgetary source other than the state
to pay to the university a minimum of $2 million as an endowment
or $100,000 a year for a minimum of 20 years toward the funding
of an academic position within the health and life sciences
fields to be designated as an Endowed Life Sciences Research
Chair; and

(2)  A commitment from the university, including any of its
separate campuses, to pay a minimum of $100,000 a year for the
endowed chair position for a minimum of 20 years.

After the funding commitments for the endowed chair position have
been made, the board is required to review the commitments and
upon approval pay the university from the Life Sciences Research
Trust Fund $100,000 a year for 20 years for the funding of the
endowed chair position.  The board is also required to commit
from the fund a one-time disbursement of research and
programmatic start-up moneys of $500,000 over a two-year period,
beginning with the hiring for the endowed chair position.  The
one-time disbursement is required to include a $100,000 payment
authorized from the fund.

The bill requires that the funding commitments for the endowed
chair position be confirmed by a notarized letter of intent and
the establishment of an escrow account containing at least 10% of
the total commitment of moneys by the non-state entity or the
university.

The bill does not require the board to provide the matching
moneys for the endowed chair position in an amount exceeding $10
million in any single fiscal year.  If at any time the commitment
of moneys is not fulfilled by either the non-state entity or the
university, the commitment of moneys by the board will terminate.

When a Missouri public university receives the funding
commitments from budgetary sources other than the state or if the
funding commitments are made prior to the appointment of any
member to the board, the bill requires the president of the
university to document the date and time of the receipt of the
funding commitments.  The board is also required to provide its
matching moneys for the endowed chair position in the order in
which funding commitments are received.

The bill also requires that any Missouri public university   or
other qualified entity that has a formal contract with a  public
university to hold the matching moneys provided by the board for
the funding of an endowed chair position and any life sciences
research conducted under the direction of the endowed chair.  A
university or entity is prohibited from spending, loaning, or
encumbering the matching moneys for any other purpose.

Within 90 days of receipt of the funding commitments for the
endowed chair and annually thereafter, any public or private
entity may submit a proposal for life sciences research to be
conducted under the direction of an endowed chair.  The funding
commitments may be made in conjunction with the entities desiring
to submit proposals.  The board is required to establish criteria
for selecting proposals competitively.

The bill requires any moneys withdrawn from the fund but not
expended according to the bill to be distributed in accordance
with the provisions of Sections 196.1100 - 196.1130, RSMo,
pertaining to life sciences research.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am