UT HB0373

Appropriates $50,000,000 from the Income Tax Fund for fiscal year 2027 to establish the Higher Education Research Funding Pilot Program, a competitive grant program for university research projects

Research funding allocation splits 75-85% for research institutions (University of Utah, Utah State University) and 15-25% for applied research at regional institutions, with grants prioritized based on expected impact, connection to Utah industries, commercialization potential, and matching funds

Renames the Utah Innovation Fund to the Nucleus Fund and modifies Nucleus Institute governance, including changing how the commissioner appoints the executive director, board chair, and investment committee chair, while removing compensation provisions for certain positions

Authorizes the Nucleus Institute to oversee a facility on Point of the Mountain state land for collaborative co-working space, classrooms, higher education offices, and retail space

Transfers certain duties from the Utah Board of Higher Education to the commissioner of higher education, including determining scholarship amounts for the Opportunity Scholarship Program and first credential scholarship program