HOUSE AMENDMENT Bill No. HB 1E CS
1	CHAMBER ACTION
2	Senate House
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12	Representative Sobel offered the following:
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14	Amendment to Amendment (883759)
15	Remove lines 458-504, and insert:
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17	(a) The grantee shall reinvest 15 percent of the net
18	royalty revenues and of the revenues from the sale of stock
19	received by The Scripps Research Institute from the licensing or
20	transfer of inventions, methods, processes, and other patentable
21	activities conceived or reduced to practice using facilities or
22	employees of the grantee. For purposes of this paragraph, the
23	term “net royalty revenues” means all royalty revenues less the
24	cost of obtaining, maintaining, and enforcing related patent and
25	intellectual property rights, both foreign and domestic.
26	Reinvestment payments under this subsection shall commence no
27	later than 6 months after the grantee has received the final
28	disbursement under the contract.
29	(b) The grantee shall reinvest 15 percent of the gross
30	revenues it receives from naming opportunities associated with
31	any facility it builds in this state. For purposes of this
32	paragraph, the term “naming opportunities” includes charitable
33	donations from any person in consideration for the right to have
34	all or a portion of the facility named for or in the memory of
35	any person, living or dead, or for any entity. The obligation to
36	make reinvestment payments under this subsection shall commence
37	upon the execution of the contract between the corporation and
38	the grantee.
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40	All public universities and private not-for-profit universities
41	in this state shall receive 75 percent of reinvestment payments
42	made pursuant to this subsection and 25 percent of such payments
43	shall be remitted to the state for deposit in the Biomedical
44	Research Trust Fund, or if such fund has ceased to exist, in
45	another trust fund that supports biomedical research, as
46	determined by law.
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