CT HB05042

Renames the "Stem Cell Research Fund" to the "Regenerative Medicine Research Fund" and expands its scope to include regenerative medicine research beyond just stem cell research.

Transfers administration of the fund from the Commissioner of Public Health to the chief executive officer of Connecticut Innovations, Incorporated, effective October 1, 2014.

Extends funding availability from 10 fiscal years (ending June 30, 2015) to 15 fiscal years (ending June 30, 2020), maintaining a minimum of $10 million annually for grants-in-aid to eligible institutions.

Restructures the advisory and peer review committees, adding the chief executive officer of Connecticut Innovations, Incorporated to the advisory committee and transferring peer review committee appointment authority from the Commissioner of Public Health to Connecticut Innovations, Incorporated.

Removes the 5 percent administrative cost cap on the Bioscience Innovation Fund and eliminates provisions allowing reimbursement of administrative costs from that fund.