HB 12-1219 Summary

• Creates the Health Sciences Center Emerging Medical Research Fund in the state treasury to support clinical trials, FDA approval, and product sales for medical products discovered at the University of Colorado Health Sciences Center

• Appropriates $10,000,000 from the general fund to the new fund for fiscal year beginning July 1, 2012

• Fund composition includes general assembly appropriations, moneys received by the Health Sciences Center for clinical trials and federal approval, and gifts, grants, or donations

• Unexpended and unencumbered moneys remain in the fund at end of fiscal year and are not transferred to the general fund; investment income is credited to the fund

• Takes effect 90 days after final adjournment of the general assembly (August 8, 2012) unless subject to referendum petition requiring voter approval in November 2012