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A BILL TO BE ENTITLED
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AN ACT
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relating to certain funds for the enhancement of the state's |
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economic and educational competitiveness, including the creation |
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of the governor's university research initiative. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 61, Education Code, is amended by adding |
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Subchapter W to read as follows: |
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SUBCHAPTER W. GOVERNOR'S UNIVERSITY |
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RESEARCH INITIATIVE |
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Sec. 61.921. DEFINITIONS. In this subchapter: |
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(1) "Distinguished researcher" means a researcher who |
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is a Nobel laureate or member of the National Academy of Sciences. |
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(2) "Fund" means the governor's university research |
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initiative fund. |
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Sec. 61.922. PURPOSE. The governor's university research |
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initiative is established to assist general academic teaching |
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institutions and medical and dental units in recruiting |
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distinguished researchers. |
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Sec. 61.923. ADMINISTRATION. (a) The board shall allocate |
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funds in a manner consistent with Section 61.922 and shall give |
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priority to distinguished researchers in science, technology, |
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engineering, and mathematics. |
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(b) The fund may not be used to recruit distinguished |
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researchers from general academic teaching institutions or medical |
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and dental units located in the state. |
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Sec. 61.924. GOVERNOR'S UNIVERSITY RESEARCH INITIATIVE |
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FUND. (a) The governor's university research initiative fund is a |
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dedicated account in the general revenue fund. |
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(b) The fund consists of any amounts appropriated by the |
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legislature for the fund. |
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SECTION 2. Chapter 490, Government Code, is repealed. |
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SECTION 3. On the effective date of this Act: |
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(1) the Texas emerging technology fund is abolished |
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and all of the equity, convertible notes, debt instruments, and |
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other assets held in the fund are transferred to the Texas Treasury |
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Safekeeping Trust Company; and |
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(2) notwithstanding Subdivision (1) of this section, |
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the unexpended cash balances in the Texas emerging technology fund |
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are reallocated in equal amounts to: |
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(A) the Texas Enterprise Fund; and |
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(B) the Texas Higher Education Coordinating |
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Board to implement the governor's university research initiative, |
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as created by this Act. |
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SECTION 4. (a) Except as provided by Subsection (b) of |
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this section, information collected under the Texas emerging |
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technology fund concerning the identity, background, finance, |
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marketing plans, trade secrets, or other commercially or |
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academically sensitive information of an individual or entity |
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having received an award from the fund remains confidential on and |
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after the effective date of this Act unless the individual or entity |
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consents to disclosure of the information. |
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(b) The following information collected during the |
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administration of the Texas emerging technology fund is public |
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information and may be disclosed under Chapter 552, Government |
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Code: |
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(1) the name and address of an individual or entity |
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having received an award from the fund; |
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(2) the amount of funding received by an award |
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recipient; |
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(3) a brief description of the project that was |
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funded; |
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(4) if applicable, a brief description of the equity |
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position that the governor, on behalf of the state, has taken in an |
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entity that has received an award from the fund; and |
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(5) any other information with the consent of: |
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(A) the individual or entity receiving or having |
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received an award from the fund, as applicable; |
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(B) the governor; |
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(C) the lieutenant governor; and |
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(D) the speaker of the house of representatives. |
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SECTION 5. This Act takes effect September 1, 2015. |