| 1 | Representative(s) Glorioso offered the following: |
| 2 |
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| 3 | Amendment (with directory and title amendments) |
| 4 | Remove lines 347 through 363 and insert: |
| 5 | (4)(a) Investigator-initiated research grantees shall |
| 6 | reinvest annually 15 percent of the net royalty revenues, |
| 7 | including the revenues from the sale of stock from the licensing |
| 8 | or transfer of inventions, methods, processes, and other |
| 9 | patentable discoveries conceived or reduced to practice using |
| 10 | the research grant, in whole or in part, and to which the |
| 11 | grantee becomes entitled each year during the 20 years following |
| 12 | the effective date of the contract between the William G. "Bill" |
| 13 | Bankhead, Jr., and David Coley Cancer Research Program and the |
| 14 | grantee. |
| 15 | (b) For purposes of this subsection, the term "net royalty |
| 16 | revenues" means all royalty revenues less the cost of obtaining, |
| 17 | maintaining, and enforcing related patent and intellectual |
| 18 | property rights, both foreign and domestic. |
| 19 | (c) The grantee shall annually submit to the Department of |
| 20 | Health a schedule of the shares of stock held by it as payment |
| 21 | of the royalty pursuant to paragraph (a) and report on any |
| 22 | trades or activity concerning such stock. |
| 23 | (d) Reinvestment payments made under this subsection shall |
| 24 | commence no later than 6 months after the grantee has received |
| 25 | the final disbursement and shall continue until the maximum |
| 26 | reinvestment has been paid. |
| 27 | (e) All reinvestment payments made pursuant to this |
| 28 | subsection shall be remitted to the Department of Health for |
| 29 | deposit in the General Revenue Fund. |
| 30 | (5) By December 15 of each year, the Department of Health |
| 31 | shall submit to the Governor, the President of the Senate, and |
| 32 | the Speaker of the House of Representatives a report indicating |
| 33 | progress towards the program's mission and making |
| 34 | recommendations that further its purpose. |
| 35 | (6) By June 1, 2009, the Division of Statutory Revision of |
| 36 | the Office of Legislative Services shall certify to the |
| 37 | President of the Senate and the Speaker of the House of |
| 38 | Representatives the language and statutory citation of this |
| 39 | section, which is scheduled to expire January 1, 2011. |
| 40 | (7) The Legislature shall review the performance, the |
| 41 | outcomes, and the financial management of the William G. "Bill" |
| 42 | Bankhead, Jr., and David Coley Cancer Research Program during |
| 43 | the 2010 Regular Session of the Legislature and shall determine |
| 44 | the most appropriate funding source and means of funding the |
| 45 | program based on its review. |
| 46 | (8) This section expires January 1, 2011, unless reviewed |
| 47 |
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| 48 |
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| 49 | ======= T I T L E A M E N D M E N T ======= |
| 50 | Remove line 38 and insert: |
| 51 | meetings; providing for certain percentage of reinvestment of |
| 52 | grant funds awarded for investigator-initiated research; |
| 53 | providing for reinvestment funds to be paid to the Department of |
| 54 | Health for deposit into the General Revenue Fund; requiring an |
| 55 | annual report; providing for the |