2015S0273-1 02/18/15
By: Fraser S.B. No. 632
A BILL TO BE ENTITLED
AN ACT
relating to certain funds for the enhancement of the state's
economic and educational competitiveness, including the creation
of the governor's university research initiative.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 61, Education Code, is amended by adding
Subchapter W to read as follows:
SUBCHAPTER W. GOVERNOR'S UNIVERSITY
RESEARCH INITIATIVE
Sec. 61.921. DEFINITIONS. In this subchapter:
(1) "Distinguished researcher" means a researcher who
is a Nobel laureate or member of the National Academy of Sciences.
(2) "Fund" means the governor's university research
initiative fund.
Sec. 61.922. PURPOSE. The governor's university research
initiative is established to assist general academic teaching
institutions and medical and dental units in recruiting
distinguished researchers.
Sec. 61.923. ADMINISTRATION. (a) The board shall allocate
funds in a manner consistent with Section 61.922 and shall give
priority to distinguished researchers in science, technology,
engineering, and mathematics.
(b) The fund may not be used to recruit distinguished
researchers from general academic teaching institutions or medical
and dental units located in the state.
Sec. 61.924. GOVERNOR'S UNIVERSITY RESEARCH INITIATIVE
FUND. (a) The governor's university research initiative fund is a
dedicated account in the general revenue fund.
(b) The fund consists of any amounts appropriated by the
legislature for the fund.
SECTION 2. Chapter 490, Government Code, is repealed.
SECTION 3. On the effective date of this Act:
(1) the Texas emerging technology fund is abolished
and all of the equity, convertible notes, debt instruments, and
other assets held in the fund are transferred to the Texas Treasury
Safekeeping Trust Company; and
(2) notwithstanding Subdivision (1) of this section,
the unexpended cash balances in the Texas emerging technology fund
are reallocated in equal amounts to:
(A) the Texas Enterprise Fund; and
(B) the Texas Higher Education Coordinating
Board to implement the governor's university research initiative,
as created by this Act.
SECTION 4. (a) Except as provided by Subsection (b) of
this section, information collected under the Texas emerging
technology fund concerning the identity, background, finance,
marketing plans, trade secrets, or other commercially or
academically sensitive information of an individual or entity
having received an award from the fund remains confidential on and
after the effective date of this Act unless the individual or entity
consents to disclosure of the information.
(b) The following information collected during the
administration of the Texas emerging technology fund is public
information and may be disclosed under Chapter 552, Government
Code:
(1) the name and address of an individual or entity
having received an award from the fund;
(2) the amount of funding received by an award
recipient;
(3) a brief description of the project that was
funded;
(4) if applicable, a brief description of the equity
position that the governor, on behalf of the state, has taken in an
entity that has received an award from the fund; and
(5) any other information with the consent of:
(A) the individual or entity receiving or having
received an award from the fund, as applicable;
(B) the governor;
(C) the lieutenant governor; and
(D) the speaker of the house of representatives.
SECTION 5. This Act takes effect September 1, 2015.