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ID H0377
Bill
Status
3/17/2016
Primary Sponsor
Commerce and Human Resources Committee
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AI Summary
HB 377 Summary
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Removes obsolete language from Section 67-4725 regarding funds from the innovation license plate in the Idaho Global Entrepreneurial Mission (IGEM) grant fund.
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Revises Section 67-4726 to clarify that the governor designates the IGEM council chairman from the private-sector membership unless otherwise specified at the governor's discretion.
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Amends Section 67-4729 to establish that Idaho-based industry partners may receive weighted consideration for IGEM grant awards.
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Clarifies Section 67-4731 commercialization revenue distribution priorities: first reimbursing direct project costs, then providing prenegotiated portions to university research faculty and staff, then reimbursing general fund expenses up to 25%, depositing up to 5% into IGEM grant funds by agreement, and distributing remaining funds to universities based on their research participation.
Legislative Description
Amends existing law to revise the provisions regarding the Governor's designation of the council chairman; to provide weighted consideration for Idaho industry partners for grants; and to further define and clarify the distribution of commercialization revenue.
GLOBAL ENTREPRENEURIAL MISSION
Last Action
Reported Signed by Governor on March 17, 2016 Session Law Chapter 84 Effective: 07/01/2016
3/17/2016