| |
| |
| |
|
|
AN ACT
|
|
|
relating to the authority of public institutions of higher |
|
|
education to make certain investments to support technology |
|
|
commercialization. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 153.006(a), Education Code, is amended |
|
|
to read as follows: |
|
|
(a) In order to carry out the purposes of this chapter and to |
|
|
support the activities of centers described in this chapter, to the |
|
|
extent authorized by its governing board, an institution of higher |
|
|
education may: |
|
|
(1) enter into agreements establishing royalties, |
|
|
fees, and other consideration for technology developed in whole or |
|
|
part by the institution [it]; |
|
|
(2) accept equity interests in, convertible |
|
|
promissory debt instruments issued by, or a combination of equity |
|
|
interests in and convertible promissory debt instruments issued by |
|
|
organizations that license, manage, or otherwise administer rights |
|
|
to technology belonging to the institution [it] or under its |
|
|
control in exchange for such rights, in whole or in part; |
|
|
(3) accept equity interests in, convertible |
|
|
promissory debt instruments issued by, or a combination of equity |
|
|
interests in and convertible promissory debt instruments issued by |
|
|
organizations that license or otherwise have rights in the |
|
|
institution's [its] technology as consideration for its providing |
|
|
monetary, business, scientific, or engineering services or |
|
|
technical assistance; |
|
|
(4) use income from the commercialization of |
|
|
technology to fund the activities of the center; |
|
|
(5) solicit, accept, and administer gifts, grants, and |
|
|
donations; |
|
|
(6) enter into contracts for legal services with a |
|
|
competent lawyer or law firm to: |
|
|
(A) prepare, file, pursue, and maintain patent |
|
|
applications in the United States or foreign jurisdictions; |
|
|
(B) secure copyright protection for computer |
|
|
software; |
|
|
(C) prepare, file, and pursue trademark and |
|
|
service mark applications; |
|
|
(D) pursue litigation to prevent or stop |
|
|
infringement of any intellectual property rights of the |
|
|
institution; or |
|
|
(E) handle any other legal matter related to the |
|
|
operation and activities of the center; and |
|
|
(7) enter into such other business arrangements as may |
|
|
be appropriate for achieving the purposes of this chapter. |
|
|
SECTION 2. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2013. |
| |
| |
| |
______________________________ |
______________________________ |
| |
President of the Senate |
Speaker of the House |
| |
| |
|
|
I certify that H.B. No. 2051 was passed by the House on April |
|
|
24, 2013, by the following vote: Yeas 144, Nays 0, 1 present, not |
|
|
voting. |
|
|
|
|
|
______________________________ |
|
|
Chief Clerk of the House |
| |
| |
|
|
I certify that H.B. No. 2051 was passed by the Senate on May |
|
|
15, 2013, by the following vote: Yeas 31, Nays 0. |
|
|
|
|
|
______________________________ |
|
|
Secretary of the Senate |
|
|
APPROVED: _____________________ |
|
|
Date |
|
|
|
|
|
_____________________ |
|
|
Governor |