Texas Senate Bill SB1124

Texas 2015 - 84th Regular

Caption

Relating to creation of the university research initiative fund, the abolishment of the Texas emerging technology fund, and the disposition of balances from the Texas emerging technology fund.

Impact

By instituting the University Research Initiative Fund, the bill is designed to centralize resources and support for higher education institutions in their research endeavors. The intention is to bolster Texas's position in the global economy by recruiting outstanding researchers and promoting innovation through collaborative projects. The bill stipulates specific priorities for grants, particularly favoring those initiatives that are likely to yield substantial benefits for the state's economy. This shift is expected to create a more structured approach to funding research initiatives compared to the previous technology fund.

Summary

SB1124, introduced by Senator Eltife, proposes the creation of the University Research Initiative Fund while abolishing the Texas Emerging Technology Fund. The measure aims to enhance Texas's capacity for attracting and retaining top national and international researchers in science, technology, engineering, and mathematics (STEM) fields. It also intends to facilitate matching grants for institutions of higher education, enabling them to recruit renowned researchers who can significantly contribute to the state's economic competitiveness and research capabilities.

Contention

Notably, the move to abolish the Texas Emerging Technology Fund has faced scrutiny. Critics might argue that while the new initiative has its merits, the previous fund provided diverseness in funding applications and could lead to a wider range of innovation solutions within Texas's tech scene. Transitioning from the former fund to the proposed initiative may evoke concerns from stakeholders about potential gaps in funding for technology projects that may not fit strictly within the confines of STEM but still hold importance to Texas's market and employment landscape.