| 1 | A bill to be entitled |
| 2 | An act relating to the Institute for the Commercialization |
| 3 | of Public Research Trust Fund; creating s. 288.9629, F.S.; |
| 4 | creating the Institute for the Commercialization of Public |
| 5 | Research Trust Fund within the State Treasury; providing |
| 6 | for the use of the fund; providing for sources of funds; |
| 7 | providing for annual carryforward of funds; providing for |
| 8 | future review and termination or re-creation of the trust |
| 9 | fund; providing a contingent effective date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
| 12 |
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| 13 | Section 1. Section 288.9629, Florida Statutes, is created |
| 14 | to read: |
| 15 | 288.9629 Institute for the Commercialization of Public |
| 16 | Research Trust Fund.-- |
| 17 | (1) The Institute for the Commercialization of Public |
| 18 | Research Trust Fund is created within the State Treasury for the |
| 19 | purpose of funding the organizational and operational expenses |
| 20 | of the Institute for the Commercialization of Public Research in |
| 21 | support of the activities as authorized in s. 288.9628. |
| 22 | (2) Funds credited to the trust fund shall consist of |
| 23 | funds appropriated by the Legislature for the fund, grants and |
| 24 | donations received by the fund, and investment earnings. |
| 25 | (3) Notwithstanding s. 216.301 and pursuant to s. 216.351, |
| 26 | any balance in the trust fund at the end of the fiscal year |
| 27 | shall remain in the trust fund and shall be available for |
| 28 | carrying out the purposes of the trust fund. |
| 29 | (4) In accordance with s. 19(f)(2), Art. III of the State |
| 30 | Constitution, the Institute for the Commercialization of Public |
| 31 | Research Trust Fund shall, unless terminated sooner, be |
| 32 | terminated on July 1, 2011. Before its scheduled termination, |
| 33 | the trust fund shall be reviewed as provided in s. 215.3206(1) |
| 34 | and (2). |
| 35 | Section 2. This act shall take effect July 1, 2007, if |
| 36 | House Bill 1521 or similar legislation creating the Institute |
| 37 | for the Commercialization of Public Research is adopted in the |
| 38 | same legislative session or an extension thereof and becomes |
| 39 | law. |