AZ SB1245

Appropriates $5,500,000 from the health research fund to the Department of Health Services for each fiscal year from 2014-2015 through 2018-2019.

Funds must be allocated to a nonprofit medical research institute headquartered in Arizona that specializes in biomedical research using genomic technologies for clinical care.

Recipient institute must collaborate with universities, hospitals, health science research centers, and other bioscience industries in Arizona.

Recipient must commission an annual audit of expenditures and submit audit reports to the Department of Health Services by December 31 each year.

Appropriation is exempt from lapsing provisions, allowing unspent funds to carry forward beyond the fiscal year.