|Senate Counsel & Research||State of Minnesota|
|S.F. No. 265 - Minnesota Biomedical Sciences Research Facilities Authority|
|Author:||Senator Richard Cohen|
|Prepared by:||Thomas S. Bottern, Senate Counsel (651/296-3810)|
|Date:||February 19, 2007|
This bill directs the sale of $279 million of state general obligation bond funds to provide funding for 90 percent of the costs of constructing and furnishing biomedical research science facilities that will be owned and operated by the Board of Regents of the University of Minnesota. The University of Minnesota must, either on its own, or in collaboration with another private or public institution, pay ten percent of the costs of the constructing each facility. The bill creates a 13-member Minnesota Biomedical Science Research Facilities Authority that must determine whether applications from the university to use the fund meet the criteria specified in this legislation before the money can be spent.
This bill has been referred to the State and Local Government Operations and Oversight committee because it establishes the authority in section 3 and because section 4, subdivision 1, provides the Commissioner of Finance with rulemaking for the research authority.
Sections 1 and 2 provide the purpose and definitions for the bill.
Section 3. MINNESOTA BIOMEDICAL SCIENCE RESEARCH AUTHORITY. establishes the Minnesota Biomedical Science Research Facilities Authority. The Commissioner of Employment and Economic Development is an ex officio member. The bill names 12 other members to the authority:
The gubernatorial appointments are subject to the advice and consent of the Senate. Legislative members serve at the pleasure of their appointing authorities. Sitting legislators are nonvoting members. Other members, except for the Commissioner of Employment and Economic Development, serve for staggered terms of four years. All of the members of the authority will be considered "public officials" for the purposes of Minnesota Statutes, chapter 10A, including the income and investment disclosure requirements under that chapter
Subdivision 3 authorizes the authority to conduct a meeting by telephone if the conditions in subdivision 3 are met. The remainder of the section provides administrative provisions for the authority.
Section 4. POWERS; DUTIES. authorizes the authority to adopt bylaws and the Commissioner of Finance to adopt rules regarding the operation of the authority. Provides other powers and duties for the authority to conduct business, including receiving gifts and making grants, and contracting for services.
Section 5. BIOMEDICAL SCIENCE RESEARCH FACILITY FUNDING PROGRAM. establishes the biomedical science research facility program fund, which provides grants to the Board of Regents for 90 percent of the cost of approved projects. All grants made by the authority must be applied for by Board of Regents, either acting on behalf of the University of Minnesota, or in collaboration with another private or public institution. Specifies that the facility resulting from the projects must be owned by the Board of Regents.
Section 6. CREATION OF BOND FUND. establishes a special dedicated biomedical science research facility bond fund, to be held and invested separately from all other state funds.
Section 7. BIOSCIENCE AND BIOTECHNOLOGY SUBSIDIES. requires all recipients of any state subsidy for bioscience or biotechnology to report to the Commissioner of Employment and Economic Development by January 15 of each year. Requires the commissioner to summarize the reports received under this section by March 1 each year for the Legislature.
Section 8. AUTHORIZATION OF BONDS. directs the sale of $279 million in general obligation bonds for the purposes of the biomedical science research facilities program fund, to be used for payment of construction costs of new facilities as provided in this bill.
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