MS HB1032

Removes the requirement that technology transferred from universities to commercial enterprises must have been developed by the university officer or employee seeking financial interest in a private entity.

Allows university officers and employees (excluding chief executives, chief financial officers, chief research officers, and authority members) to establish material financial interests in private entities that facilitate technology transfer for economic development.

Requires university chief executive officer approval before an officer or employee can apply to the authority, with conditions including detailed descriptions of the interest, demonstration of state economic benefit, and assurance that university research and instruction will not be adversely affected.

Permits the Mississippi University Research Authority to authorize financial interests if all application conditions are met and the authority makes positive findings regarding economic benefit and lack of adverse effects on state interests.

Takes effect July 1, 2015.