SECOND REGULAR SESSION
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES ERVIN (Sponsor), RICHARD, KRATKY AND DEMPSEY (Co-sponsors).
Read 1st time March 2, 2006 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To repeal sections 348.251, 348.253, 348.256, 348.261, 348.262, 348.263, 348.264, 348.266, 348.271, 348.272, 348.275, 620.030, 620.500, 620.503, 620.1003, and 620.1007, RSMo, and to enact in lieu thereof seventeen new sections relating to small businesses.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 348.251, 348.253, 348.256, 348.261, 348.262, 348.263, 348.264, 348.266, 348.271, 348.272, 348.275, 620.030, 620.500, 620.503, 620.1003, and 620.1007, RSMo, are repealed and seventeen new sections enacted in lieu thereof, to be known as sections 348.251, 348.253, 348.256, 348.261, 348.262, 348.263, 348.264, 348.266, 348.271, 348.273, 348.274, 348.275, 620.030, 620.500, 620.503, 620.1003, and 620.1007, to read as follows:
348.251. 1. As used in sections 348.251 to 348.266, the following terms mean:
(1) "Alliance", the Missouri discovery alliance authorized under this section;
(2) "Technology application", the introduction and adaptation of refined management practices in fields such as scheduling, inventory management, marketing, product development, and training in order to improve the quality, productivity and profitability of an existing firm. Technology application shall be considered a component of business modernization;
(3) "Technology business recruitment", to assist the department of economic development with the recruitment, relocation, and expansion of technology businesses to locate in this state;
[(2)] (4) "Technology commercialization", the process of moving investment-grade technology from a business, university or laboratory into the marketplace for application;
[(3)] (5) "Technology development", strategically focused research directed at developing investment-grade technologies which are important for market competitiveness.
2. [The governor may, on behalf of the state and in accordance with chapter 355, RSMo, establish a private not-for-profit corporation named the "Missouri Technology Corporation", to carry out the provisions of sections 348.251 to 348.266. As used in sections 348.251 to 348.266 the word "corporation" means the Missouri technology corporation authorized by this section. Before certification by the governor, the corporation shall conduct a public hearing for the purpose of giving all interested parties an opportunity to review and comment upon the articles of incorporation, bylaws and method of operation of the corporation. Notice of the hearing shall be given at least fourteen days prior to the hearing.] There is hereby created within the department of economic development the "Missouri Discovery Alliance" which shall constitute a body corporate and politic. The Missouri discovery alliance shall carry out the provisions of sections 348.251 to 348.266.
348.253. 1. The Missouri [technology corporation] discovery alliance may contract with not-for-profit organizations to carry out the provisions of sections 348.251 to 348.275. By entering into such contracts, the [corporation] alliance shall attempt to achieve the following objectives:
(1) [The establishment of a research alliance which shall advance technology development, as defined in subdivision (3) of section 348.251. The corporation, in this capacity, shall have the authority to contract directly with centers for advanced technology, as established by section 348.272, and other not-for-profit entities. In proceeding with this objective, the corporation and centers for advanced technology shall utilize the results of targeted industry studies commissioned by the department of economic development] The enhancement of technology application;
(2) Technology commercialization[, as defined in subdivision (2) of section 348.251];
(3) [The establishment of a finance corporation to assist in the implementation of section 348.261] The enhancement of technology development; and
(4) The enhancement of technology [application, as defined in subdivision (1) of section 348.251] business recruitment.
2. Any contract signed between the [corporation] alliance and any not-for-profit organization, including innovation centers as defined in section 348.271, shall require that the not-for-profit organization must provide at least one-hundred-percent match for any funding received from the [corporation] alliance through the technology investment fund, as established in section 348.264.
348.256. The articles of incorporation and bylaws of the Missouri [technology corporation] discovery alliance shall provide that:
(1) The purposes of the [corporation] alliance are to contribute to the strengthening of the economy of the state through the development of science and technology, to promote the modernization of Missouri businesses by supporting the transfer of science, technology and quality improvement methods to the workplace, and to enhance the productivity and modernization of Missouri businesses by providing leadership in the establishment of methods of technology application, technology commercialization [and], technology development, and technology business recruitment;
(2) The board of directors of the [corporation] alliance is composed of [fifteen] thirteen persons. The governor shall [annually] appoint [one of its members, who must be from the private sector, as chairman] at will one member as chairperson to be confirmed by the senate. [The board shall consist of the following members:
(a) The director of the department of economic development, or the director's designee;
(b) The president of the University of Missouri system, or the president's designee;
(c) A member of the state senate, appointed by the president pro tem of the senate;
(d) A member of the house of representatives, appointed by the speaker of the house;
(e) Eleven members appointed by the governor, two of which shall be from the public sector and nine members from the private sector who shall include, but shall not be limited to, individuals who represent technology-based businesses and industrial interests;
(f) Each of the directors of the corporation who is appointed by the governor shall serve for a term of four years and until a successor is duly appointed; except that, of the directors serving on the corporation as of August 28, 1995, three directors shall be designated by the governor to serve a term of four years, three directors shall be designated to serve a term of three years, three directors shall be designated to serve a term of two years, and two directors shall be designated to serve a term of one year. Each director shall continue to serve until a successor is duly appointed by the governor] The governor shall appoint twelve members to the board, and the members shall be confirmed by the senate. At least four of such members shall be from research institutions, universities, or colleges in this state, and at least four of such members shall be from technology-based businesses in this state. Each of the directors of the alliance who is appointed by the governor shall serve for a term of four years and shall continue to serve until a successor is duly appointed, except that of all the directors serving on the alliance as of August 28, 2006, four directors shall be designated to serve a term of three years, and four directors shall be designated to serve a term of two years. Each director shall continue to serve until a successor is duly appointed by the governor;
(3) The [corporation] alliance may receive money from any source, may borrow money, may enter into contracts, and may expend money for any activities appropriate to its purpose;
(4) The [corporation] alliance may appoint staff and do all other things necessary or incidental to carrying out the functions listed in section 348.261;
(5) Any changes in the articles of incorporation or bylaws must be approved by the governor;
(6) The [corporation] alliance shall submit an annual report to the governor and to the Missouri general assembly. The report shall be due on the first day of November for each year and shall include detailed information on the structure, operation and financial status of the [corporation. The corporation shall conduct an annual public hearing to receive comments from interested parties regarding the report, and notice of the hearing shall be given at least fourteen days prior to the hearing] alliance; and
(7) The [corporation] alliance is subject to an annual audit by the state auditor and that the [corporation] alliance shall bear the full cost of the audit.
348.261. The [corporation, after being certified by the governor as provided by section 348.251,] alliance may:
(1) Establish a statewide business modernization network to assist Missouri businesses in identifying ways to enhance productivity and market competitiveness;
(2) Identify scientific and technological problems and opportunities related to the economy of Missouri and formulate proposals to overcome those problems or realize those opportunities;
(3) Identify specific areas where scientific research and technological investigation will contribute to the improvement of productivity of Missouri manufacturers and farmers;
(4) Determine specific areas in which financial investment in scientific and technological research and development from private businesses located in Missouri could be enhanced or increased if state resources were made available to assist in financing activities;
(5) Assist in establishing cooperative associations of universities in Missouri and of private enterprises for the purpose of coordinating research and development programs that will, consistent with the primary educational function of the universities, aid in the creation of new jobs in Missouri;
(6) Assist in financing the establishment and continued development of technology-intensive businesses in Missouri;
(7) Advise universities of the research needs of Missouri business and improve the exchange of scientific and technological information for the mutual benefit of universities and private business;
(8) Coordinate programs established by universities to provide Missouri businesses with scientific and technological information;
(9) Establish programs in scientific education which will support the accelerated development of technology-intensive businesses in Missouri;
(10) Provide financial assistance through contracts, grants and loans to programs of scientific and technological research and development;
(11) Determine how public universities can increase income derived from the sale or licensure of products or processes having commercial value that are developed as a result of university sponsored research programs;
(12) Contract with innovation centers, as established in section 348.271, small business development corporations, as established in sections 620.1000 to 620.1007, RSMo, [centers for advanced technology, as established in section 348.272,] and other entities or organizations for the provision of technology application, technology commercialization [and], technology development services, and technology business recruitment. Such contracting procedures shall not be subject to the provisions of chapter 34, RSMo; [and]
(13) Make direct seed capital or venture capital investments in Missouri business investment funds or businesses which demonstrate the promise of growth and job creation. Investments from the [corporation] alliance may be in the form of debt or equity in the respective businesses ; and
(14) Authorize tax credits as established in section 348.274.
348.262. In order to assist the [corporation] alliance in achieving the objectives identified in section 348.261, the department of economic development may contract with the [corporation] alliance for activities consistent with the [corporation's] alliance's purpose, as specified in section 348.256. When contracting with the [corporation] alliance under the provisions of this section, the department of economic development may directly enter into agreements with the [corporation] alliance and shall not be bound by the provisions of chapter 34, RSMo.
348.263. [1.] The Missouri [business modernization and technology corporation] discovery alliance shall replace the Missouri technology corporation [for science and technology]. All moneys, property or any other assets remaining with the Missouri technology corporation [for science and technology] after all obligations are satisfied on August 28, [1993] 2006, shall be transferred to the Missouri [business modernization and technology corporation] discovery alliance. All powers, duties and functions performed by the Missouri technology corporation [of science and technology] on August 28, [1993] 2006, shall be transferred to the Missouri [business modernization and technology corporation] discovery alliance.
[2. The Missouri technology corporation shall replace the Missouri business modernization and technology corporation. All moneys, property or any other assets remaining with the Missouri business modernization and technology corporation after all obligations are satisfied on August 28, 1994, shall be transferred to the Missouri technology corporation. All powers, duties and functions performed by the Missouri business modernization and technology corporation on August 28, 1994, shall be transferred to the Missouri technology corporation.]
348.264. 1. There is hereby established in the state treasury a special fund to be known as the "Missouri [Technology Investment] Discovery Fund", which shall consist of all moneys which may be appropriated to it by the general assembly, and also any gifts, contributions, grants or bequests received from federal, private or other sources. Such moneys shall include but not be limited to federal funds which may be received from the National Institute for Science and Technology, the Small Business Administration and the Department of Defense through its Technology Reinvestment Program. Money in the Missouri [technology investment program] discovery fund shall be used to carry out the provisions of sections 348.251 to 348.275. Moneys for [business modernization programs,] technology application programs, technology commercialization programs [and], technology development programs, and technology business recruitment programs established pursuant to the provisions of sections 348.251 to 348.275 shall be available from appropriations made by the general assembly from the Missouri [technology investment] discovery fund. Any moneys remaining in the Missouri [technology investment] discovery fund at the end of any fiscal year shall not lapse to the general revenue fund, as provided in section 33.080, RSMo, but shall remain in the Missouri [technology investment] discovery fund.
2. Notwithstanding the provisions of sections 173.500 to 173.565, RSMo, the Missouri [technology investment] discovery fund shall be utilized to fund projects which would previously have been funded through the [higher education applied projects] Missouri technology investment fund.
348.266. 1. Debts incurred by the Missouri [technology corporation] discovery alliance established pursuant to the authority of sections 348.251 to 348.275 do not represent or constitute a debt of this state within the meaning of the provisions of the constitution or statutes of this state.
2. The Missouri [technology corporation] discovery alliance established pursuant to sections 348.251 to 348.275 shall be subject to all provisions of chapter 355, RSMo, which do not conflict with the provisions of sections 348.251 to 348.275.
348.271. 1. In order to foster the growth of Missouri's economy and to stimulate the creation of new jobs in technology-based industry for the state's work force, the [Missouri technology corporation] department of economic development, on behalf of the Missouri discovery allicance, in accordance with the provisions of this section and within the limits of appropriations therefor is authorized to contract with Missouri not-for-profit corporations for the operation of innovation centers within the state. The primary emphasis of some, if not of all innovation centers, shall be in the areas of technology commercialization, finance and business modernization. Innovation centers operated under the provisions of this section shall provide assistance to individuals and business organizations during the early stages of the development of new technology-based business ventures. Such assistance may include the provision of facilities, equipment, administrative and managerial support, planning assistance, and such other services and programs that enhance the development of such ventures and such assistance may be provided for fees or other consideration.
2. The innovation centers operated under this section shall counsel and assist the new technology-based business ventures in finding a suitable site in the state of Missouri for location of the business upon its graduation from the [innovation program] incubator facility. Each innovation center shall annually submit a report of its activities to the department of economic development and the Missouri [technology corporation which] discovery alliance no later than the first of October of each year. The mission and goals of the innovation center program shall be outlined annually by the Missouri discovery alliance and shall include, but not be limited to, the number of businesses having a technology commercialized into a viable product or service, the number of new jobs created by the business client of the center, the success rate of the businesses graduating from the [center] incubator, the progress and locations of businesses which have graduated from the [center the types of businesses which have graduated from the center, and the number of jobs created by the businesses involved in the center.] incubator, the number and types of businesses assisted by the center, and the location of businesses assisted by the center. The report shall also include an operational plan to detail the coordination between the innovation centers and the small business development centers if one exists in the same city or region in order to maximize the services to small businesses and entrepreneurs. The report shall be approved by the department of economic development and the Missouri discovery alliance.
3. The innovation center shall be required to provide at least one hundred percent match for any funding received from the discovery fund established in section 348.264.
4. If the innovation center annual report or operational plans do not meet the requirements of the department of economic development and the Missouri discovery alliance, the department of economic development may withhold allocated center funds in an amount equal to seventy-five percent of the state allocated center funding until such report is made accurate and complete per the approval of the department of economic development and the Missouri discovery alliance.
5. Beginning July 1, 2008, no existing innovation center shall receive funding through the Missouri discovery fund, as established in section 348.264, for more than five additional years. No innovation center established after July 1, 2008, shall receive funding through the discovery fund, as established in section 348.264, for more than five years.
348.273. As used in sections 348.273 and 348.274, the following terms shall mean:
(1) "Collaborative research project", a research project conducted by a public research institution or private not-for-profit research institution on behalf of and funded by a private company;
(2) "Distressed city", either a Missouri municipality within a metropolitan statistical area which has a median household income of under seventy percent of the median household income for the metropolitan statistical area, according to the last decennial census, or a United States census block group or contiguous group of block groups within a metropolitan statistical area with at least two thousand five hundred inhabitants, and each block group having a median household income of under seventy percent of the median household income for the metropolitan area in Missouri, according to the last decennial census. In addition the definition shall include municipalities not in a metropolitan statistical area, with a median household income of under seventy percent of the median household income for the nonmetropolitan areas in Missouri according to the last decennial census or a census block group or contiguous group of block groups with at least two thousand five hundred inhabitants with each block group having a median household income of under seventy percent of the median household income for the nonmetropolitan areas of Missouri, according to the last decennial census. In metropolitan statistical areas, the definition shall include areas that were designated as a federal empowerment zone, or a federal enhanced enterprise community; or a state enterprise zone that was originally designated before January 1, 1986, but shall not include expansions of such state enterprise zones done after March 16, 1988;
(3) "Qualifying company", an independently owned and operated business which is headquartered and located in this state and which is in need of venture capital and cannot obtain conventional financing. Such business shall have no more than two hundred employees, eighty percent of which are employed in this state. Such business shall be involved in commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce but excluding retail, real estate, real estate development, insurance, and professional services provided by accountants, lawyers, or physicians. At the time approval is sought, such business shall be a small business concern that meets the requirements of the United States Small Business Administration's qualification size standards for its venture capital program, as defined in the Small Business Investment Act of 1958, as amended, and rules promulgated in 13 CFR 121.301(c), as amended;
(4) "Rural area", any city, town, or village with fewer than fifteen thousand inhabitants and located in any county that is not part of a standard metropolitan statistical area as defined by the United States Department of Commerce or its successor agency. However, any such city, town, or village located in any county so defined as a standard metropolitan statistical area may be designated a rural area by the office of rural development if:
(a) A substantial number of persons in such county derive their income from agriculture;
(b) The county has only one city within the county having a population of more than fifteen thousand and is classified as a standard metropolitan statistical area; and
(c) All other cities, towns, and villages in that county have a population of less than fifteen thousand;
(5) "Taxpayer", any person, partnership, corporation, trust, or limited liability company;
(6) "Technology commercialization infrastructure project", the construction of or improvements to an incubator, accelerator, or instrument center;
(7) "Venture capital", risk capital provided to a qualified Missouri company for research, development, operating capital, commercialization activities, or marketing thereof in exchange for some level of ownership and control of the business.
348.274. 1. The Missouri discovery alliance may authorize up to ten million dollars in tax credits per fiscal year. The tax credits may be allotted to one or more of the categories listed in this section.
2. If a qualifying company is approved by the Missouri discovery alliance, the investors who contribute the first five hundred thousand dollars in venture capital to the qualifying company may be issued a tax credit for thirty percent of such investment in the year the investment is made. However, if the company invested in is located in a rural area or a distressed community, the taxpayer may be issued a tax credit for forty percent of such investment.
3. If a qualifying company is approved by the Missouri discovery alliance, the alliance may reserve tax credits for investors who contributed the initial five million dollars in venture capital to the company. The credit shall be thirty percent of the amount invested, unless the company is located in a rural or distressed company, in which case the credit shall be forty percent. No credits shall be reserved with respect to investors who received a credit under subsection 2 of this section. The reserved credits shall be issued only for net loss of investment within five years of investing in the qualified company. No credits shall be issued if the company relocates to another state.
4. If a technology commercialization infrastructure project is approved by the Missouri discovery alliance, a taxpayer may be issued a tax credit in the amount of fifty percent of any amount contributed to the project.
5. If a collaborative research project is approved by the Missouri discovery alliance, a business firm may receive a tax credit of up to fifty percent of expenditures for industrial research conducted at a public research institution or private not-for-profit research institution.
6. The credit may be used against the tax otherwise due under chapter 143, RSMo, not including sections 143.191 to 143.265, RSMo. The tax credit may be used in the tax year issued or any of the next three consecutive tax years.
7. Any tax credits issued under this section may be sold, assigned, exchanged, or otherwise transferred.
348.275. 1. The department of economic development may draft and promulgate rules and regulations consistent with the provisions of sections 348.251 to [348.272] 348.274 as are necessary or useful to carry out the provisions of those sections.
2. No rule or portion of a rule promulgated under the authority of sections 348.251 to [348.272] 348.274 shall become effective until it has been approved by the joint committee on administrative rules in accordance with the procedures provided in this section, and the delegation of the legislative authority to enact law by the adoption of such rules is dependent upon the power of the joint committee on administrative rules to review and suspend rules pending ratification by the senate and the house of representatives as provided in this section. 3. Upon filing any proposed rule with the secretary of state, the department shall concurrently submit such proposed rule to the committee, which may hold hearings upon any proposed rule or portion thereof at any time.
4. A final order of rulemaking shall not be filed with the secretary of state until thirty days after such final order of rulemaking has been received by the committee. The committee may hold one or more hearings upon such final order of rulemaking during the thirty-day period. If the committee does not disapprove such order of rulemaking within the thirty-day period, the department may file such order of rulemaking with the secretary of state and the order of rulemaking shall be deemed approved.
5. The committee may, by majority vote of the members, suspend the order of rulemaking or portion thereof by action taken prior to the filing of the final order of rulemaking only for one or more of the following grounds:
(1) An absence of statutory authority for the proposed rule;
(2) An emergency relating to public health, safety or welfare;
(3) The proposed rule is in conflict with state law;
(4) A substantial change in circumstance since enactment of the law upon which the proposed rule is based.
6. If the committee disapproves any rule or portion thereof, the department shall not file such disapproved portion of any rule with the secretary of state and the secretary of state shall not publish in the Missouri Register any final order of rulemaking containing the disapproved portion.
7. If the committee disapproves any rule or portion thereof, the committee shall report its findings to the senate and the house of representatives. No rule or portion thereof disapproved by the committee shall take effect so long as the senate and the house of representatives ratify the act of the joint committee by resolution adopted in each house within thirty legislative days after such rule or portion thereof has been disapproved by the joint committee.
8. Upon adoption of a rule as provided in this section, any such rule or portion thereof may be suspended or revoked by the general assembly either by bill or, pursuant to section 8, article IV of the Constitution of Missouri, by concurrent resolution upon recommendation of the joint committee on administrative rules. The committee shall be authorized to hold hearings and make recommendations pursuant to the provisions of section 536.037, RSMo. The secretary of state shall publish in the Missouri Register, as soon as practicable, notice of the suspension or revocation.
620.030. The department of economic development shall have the authority to contract directly with the Missouri technology corporation, as established in section 348.251, RSMo, innovation centers, as established in section 348.271, RSMo, small business development centers, as established in sections 620.1000 to 620.1007, [centers for advanced technology, as established in section 348.272, RSMo,] and other entities or organizations for the provision of technology application, technology commercialization and technology development services. Such contracting procedures shall not be subject to the provisions of chapter 34, RSMo.
620.500. 1. There is created within the department of economic development a "Small Business Assistance Office" which shall establish [regional business assistance offices which shall be] one-stop guidance centers for entrepreneurs[. Such business assistance offices may be located in each geographic region of the state, subject to appropriation of funding by the general assembly. Where possible, each business assistance office shall be located] and small businesses in conjunction with [a] the small business development [center, a regional planning commission as defined in chapter 251, RSMo, or other existing agency or organization performing economic development functions] centers.
2. The small business assistance [office's regional offices] office shall:
(1) Provide a focal point and assist and counsel small businesses in their dealings with federal, state and local governments, including but not limited to providing ready access to information regarding government requirements which affect small business;
(2) [Analyze current legislation and regulation as it affects small business within its region for the purpose of determining methods of elimination or simplification of unnecessary regulatory requirements;
(3)] Assist small businesses [within its region] and entrepreneurs in obtaining available technical and financial assistance;
[(4)] (3) Initiate and encourage small business education programs, including programs in cooperation with various public and private educational institutions;
[(5)] (4) Foster participation of small businesses and entrepreneurs in the procurement activities of the state by providing a guide for businesses on the purchasing procedures and practices of state agencies, assisting the state agencies in developing a comprehensive list of small businesses capable of providing materials, supplies, equipment or contractual services to the state, and advising state agencies with respect to methods for simplifying procurement forms and procedures and other methods for increasing small business participation;
[(6) Receive complaints and recommendations concerning policies and activities of federal, state and local governmental agencies which affect small businesses, and develop, in cooperation with the agency involved, proposals for changes in policies or activities to alleviate any unnecessary adverse effects to small business within its region or throughout the state;
(7)] (5) Establish and operate a separate and distinct "business permit system", which shall provide comprehensive information on the federal, state and local requirements necessary to begin a small business and make this information available to the public;
[(8) Make recommendations regarding business paperwork requirements and simplification of forms and language and report to the director of the division of community and economic development on the cost effectiveness of the business permit system;
(9)] (6) Work with local business leaders and government officials and help them formulate and implement sound economic development decisions for their communities;
[(10)] (7) Provide assistance to entrepreneurs in the licensing and permitting process, including the necessary applications and paperwork.
620.503. 1. The department of economic development may enter into [contracts] a contract with any [institutions] institution of higher education within the state for the purpose of providing ready access to all state forms, regulations, requirements and other information necessary to conduct business in the state. [Each such] The office shall be known as [a] "The Small Business Assistance Office" and shall coordinate services [with a regional business assistance office] established pursuant to section 620.500.
2. [Each] The small business assistance office [may] shall provide research, development or training programs for [new or alternative] small businesses[, industries, or high technology businesses] within the state. [Each] The small business assistance office may also provide needs assessment relating to small businesses[, industries or high technology businesses] and entrepreneurs. [Each] The office may also provide feasibility studies relating to potential markets and employment opportunities.
3. [Each party] The institution of higher education entering into a contract with the department of economic development to provide or administer a small business assistance office shall, prior to the issuance of such a contract, submit to the department of economic development a detailed [description of] work plan that includes quantifiable performance appraisal measures and goals pertaining to the proposed efforts and results in marketing services provided by the small business assistance office. The department of economic development shall review [such material] and approve the work plan. When a contract to establish [a] the small business assistance office is renewed, renegotiated, or otherwise reissued, a contractor's actual efforts and results pertaining to the performance appraisal measures and goals shall be a criterion in the rewarding or renewal of a contract to establish or administer [a] the small business assistance office.
620.1003. The Missouri small business development centers in cooperation with appropriate department programs shall provide managerial and technical assistance to the small businesses. The centers shall also:
(1) Furnish one-to-one business counseling, management training, and other related services, with special emphasis on the development of management training programs using the resources of the business community, including the development of management training opportunities in existing business, and with emphasis in all cases of sufficient scope and duration to develop entrepreneurial and managerial self-sufficiency on the part of the individuals served;
(2) Assist in technology transfer, research and coupling from existing sources to small businesses[, and provide technological] by providing technical assistance to small businesses;
(3) Maintain current information concerning federal, state and local regulations that affect small businesses and counsel small businesses on methods of compliance;
(4) Maintain a working relationship and open communications with the governor, the general assembly, and the department to address the various needs of the small business community, and develop working relationships with federal departments and agencies, state departments and agencies, Missouri innovation centers, the financial and investment communities, legal associations, local and regional private consultants, and local and regional small business groups and associations, or any other entity to the extent possible in order to help address the various needs of the small business community;
(5) Provide and maintain a comprehensive library that contains current information and statistical data needed by small businesses;
(6) Build and maintain a network which allows small businesses to identify experts who can further assist their business with highly technical or specialized needs;
(7) Provide services, to the extent possible, at locations which are easily accessible to the individuals and small businesses of this state. Basic counseling services shall be provided free of charge, and other services may be provided on a cost-reimbursement basis;
(8) Continue to upgrade and modify their services, as needed, in order to meet the changing and evolving needs of the small business community;
(9) Be authorized to enter into agreements with the department to provide services under the provisions of sections 620.500 to 620.506; and
(10) Be authorized to provide any service authorized under the federal Small Business Development Centers Act.
620.1007. The director shall annually prepare and submit to the department, the governor and to the general assembly a report on the activities and financial expenditures of the Missouri small business development centers program for the year. The report shall also include an operational plan to detail the coordination between the small business development centers and the Missouri innovation centers. The report shall be approved by the department of economic development.
[348.272. 1. In order to encourage greater collaboration between private industry and the universities of this state in the development and application of new technologies, the director of the department of economic development is authorized to designate centers for advanced technology. Each center so designated shall conduct research in specific technological areas identified by the Missouri business modernization and technology corporation as having significant potential for economic growth in Missouri, or in which the application of new technologies could significantly enhance the productivity and stability of Missouri businesses. Such designations shall be made in accordance with the standards and criteria set forth in subsection 3 of this section. Centers so designated shall be eligible for support from the department of economic development in the manner provided for in subsection 4 of this section, and for such additional support as may otherwise be provided by law.
2. As used in this section, the following terms shall mean:
(1) "Applicant", a university or university-affiliated research institute, or a consortium of such institutions, which requests designation as a center in accordance with such requirements as are established by the corporation for this purpose;
(2) "Center for advanced technology" or "center", a university or university-affiliated research institute, or a consortium of such institutions, designated by the foundation, which conducts a continuing program of basic and applied research, development, and technology transfer in one or more technological areas, in collaboration with and through the support of private business and industry;
(3) "Corporation", the Missouri business modernization and technology corporation;
(4) "University", any institution of postsecondary education, including public and private universities, colleges, junior colleges, vocational and technical schools, and other postsecondary institutions.
3. The corporation shall:
(1) Identify technological areas for which centers should be designated, including, but not limited to, technological areas that are related to industries with significant potential for economic growth and development in Missouri and technological areas that are related to the enhancement of productivity in various industries located in Missouri;
(2) Establish criteria that applicants must satisfy for designation as a center, including, but not limited to, the following:
(a) An established record of research, development and instruction in the area or areas of technology involved;
(b) The capacity to conduct research and development activities in collaboration with business and industry;
(c) The capacity to secure substantial private and other governmental funding for the proposed center;
(d) The ability and willingness to cooperate with other institutions in this state in conducting research and development activities, and in disseminating research results; and to work with technical and community colleges in this state to enhance the quality of technical education in the area or areas of technology involved;
(e) The ability and willingness to cooperate with the corporation, the department of economic development, and other economic development agencies in promoting the growth and development in Missouri of industries based upon or benefiting from the area or areas of technology involved;
(3) Establish such requirements as it deems appropriate for the format, content and filing of applications for designation as centers for advanced technology;
(4) Establish such procedures as it deems appropriate for the evaluation of applications for designation as centers for advanced technology, including the establishment of peer review panels composed of nationally recognized experts in the technological areas and industries to which the application is related.
4. From such funds as may be appropriated for this purpose by the general assembly, the department of economic development may provide financial support, through contracts or other means, to designated centers for advanced technology in order to enhance and accelerate the development of such centers. Funds received pursuant to this subsection may be used for the purchase of equipment and fixtures, employment of faculty and support staff, provision of graduate fellowships, and other purposes approved by the department of economic development, but may not be used for capital construction.
5. From such funds as may be appropriated for this purpose by the general assembly, the department of economic development may provide grants to any one university or university-affiliated research institution for purposes of planning and program development aimed at enabling such university or university-affiliated research institution to qualify for designation as a center. Such grants shall be awarded on a competitive basis, and shall be available only to those applicants which, in the judgment of the corporation and department of economic development, may reasonably be expected to be designated as centers.]
•