85R1304 AJZ-D
By: Schwertner S.B. No. 1924
A BILL TO BE ENTITLED
AN ACT
relating to the financial self-sufficiency of the Cancer Prevention
and Research Institute of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 102, Health and Safety
Code, is amended by adding Section 102.005 to read as follows:
Sec. 102.005. FINANCIAL SELF-SUFFICIENCY PLAN. (a) The
institute shall develop a detailed plan for the institute to become
financially self-sufficient and to continue operations without
state funds other than patent royalties and license revenues
realized as a result of projects undertaken with money awarded
under Subchapter E.
(b) The plan described by Subsection (a) must:
(1) specify the steps the institute will take to
accomplish the transition to financial self-sufficiency after
issuance of the $3 billion in general obligation bonds authorized
by Section 67, Article III, Texas Constitution;
(2) specify sources of funding other than state money
that may be used to operate the institute after issuance of the $3
billion in general obligation bonds authorized by Section 67,
Article III, Texas Constitution; and
(3) describe the institute's method for structuring
each state-funded grant to ensure that a grant recipient completes
any contractual obligation for which the grant was awarded after
all of the $3 billion in general obligation bonds authorized by
Section 67, Article III, Texas Constitution, has been awarded to
reimburse grant recipients for allowable expenditures pursuant to
the institute's grant contract terms.
(c) The institute shall submit the plan described by
Subsection (a) to the legislature not later than December 1, 2018.
The institute shall submit any modification to the plan before
December 1 of each subsequent year.
(d) This section expires September 1, 2023.
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, 2017.