TX SB2796

Adds a new statutory purpose for the Cancer Prevention and Research Institute of Texas (CPRIT) to provide a reasonable return on investment for the state, with fiduciary responsibilities and a non-binding target of at least 1% returns per year

Requires the CPRIT chief executive officer to hire a new chief investment officer position, in addition to existing officers (chief scientific, chief operating, chief product development, and chief prevention officers)

Establishes new grant proposal priority criteria requiring projects to be expected as financially viable, enter the market within 15 years of initial investment, and provide complete return on investment for the state within 20 years (if deemed of extraordinary scientific or medical value)

Requires grant recipients to agree to provide bi-annual reports on the anticipated timeline for return on investment for the state's portion of grant money, considering project progress and market conditions

Takes effect immediately upon two-thirds vote of both legislative chambers, otherwise September 1, 2025