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ND SB2328
Bill
Status
1/20/2025
Primary Sponsor
Terry Wanzek
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AI Summary
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Creates a 7-member Life Science Research Council to advise the Industrial Commission on grants, loans, and financial assistance for biotechnology, pharmaceuticals, and medical device development in North Dakota
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Establishes the Life Science Development Fund as a special treasury fund with continuing appropriation to support research, development, marketing, feasibility studies, venture capital investments, and low-interest loans for life science industry growth
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Appropriates $9,000,000 from the general fund to the Life Science Development Fund for the period ending June 30, 2027, and transfers any remaining balance from the existing Bioscience Innovation Grant Fund
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Repeals the existing Bioscience Innovation Grant Program (section 4.1-01-20.1) and replaces it with the new life science framework under the Industrial Commission
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Requires annual reporting by September 30 to legislative management on all grants awarded, fund expenditures, project outcomes, and return on investment, with reports archived publicly on the Industrial Commission website
Legislative Description
The bioscience innovation grant program; to provide a report; to provide a continuing appropriation; to provide an appropriation; to provide for a transfer; and to declare an emergency.
Last Action
Second reading, failed to pass, yeas 21 nays 24
2/18/2025