| 3 | 2 | | |
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| 4 | 3 | | |
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| 5 | 4 | | A BILL TO BE ENTITLED |
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| 6 | 5 | | AN ACT |
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| 7 | 6 | | relating to the financial self-sufficiency of the Cancer Prevention |
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| 8 | 7 | | and Research Institute of Texas. |
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| 9 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 9 | | SECTION 1. Subchapter A, Chapter 102, Health and Safety |
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| 11 | 10 | | Code, is amended by adding Section 102.005 to read as follows: |
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| 12 | 11 | | Sec. 102.005. FINANCIAL SELF-SUFFICIENCY PLAN. (a) The |
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| 13 | 12 | | institute shall develop a detailed plan for the institute to become |
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| 14 | 13 | | financially self-sufficient and to continue operations without |
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| 15 | 14 | | state funds other than patent royalties and license revenues |
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| 16 | 15 | | realized as a result of projects undertaken with money awarded |
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| 17 | 16 | | under Subchapter E. |
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| 18 | 17 | | (b) The plan described by Subsection (a) must: |
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| 19 | 18 | | (1) specify the steps the institute will take to |
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| 20 | 19 | | accomplish the transition to financial self-sufficiency after |
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| 21 | 20 | | issuance of the $3 billion in general obligation bonds authorized |
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| 22 | 21 | | by Section 67, Article III, Texas Constitution; |
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| 23 | 22 | | (2) specify sources of funding other than state money |
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| 24 | 23 | | that may be used to operate the institute after issuance of the $3 |
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| 25 | 24 | | billion in general obligation bonds authorized by Section 67, |
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| 26 | 25 | | Article III, Texas Constitution; and |
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| 27 | 26 | | (3) describe the institute's method for structuring |
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| 28 | 27 | | each state-funded grant to ensure that a grant recipient completes |
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| 29 | 28 | | any contractual obligation for which the grant was awarded after |
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| 30 | 29 | | all of the $3 billion in general obligation bonds authorized by |
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| 31 | 30 | | Section 67, Article III, Texas Constitution, has been awarded to |
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| 32 | 31 | | reimburse grant recipients for allowable expenditures pursuant to |
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| 33 | 32 | | the institute's grant contract terms. |
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| 34 | 33 | | (c) The institute shall submit the plan described by |
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| 35 | 34 | | Subsection (a) to the legislature not later than December 1, 2018. |
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| 36 | 35 | | The institute shall submit any modification to the plan before |
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| 37 | 36 | | December 1 of each subsequent year. |
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| 38 | 37 | | (d) This section expires September 1, 2023. |
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| 39 | 38 | | SECTION 2. This Act takes effect immediately if it receives |
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| 40 | 39 | | a vote of two-thirds of all the members elected to each house, as |
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| 41 | 40 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 42 | 41 | | Act does not receive the vote necessary for immediate effect, this |
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| 43 | 42 | | Act takes effect September 1, 2017. |
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