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Senate Bill 632 |
Senate Author: Fraser et al. |
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Effective: 9-1-15 |
House Sponsor: Button et al. |
Senate Bill 632 amends the Education Code and Government Code to establish the governor's university research initiative administered by the Texas Economic Development and Tourism Office (TEDTO) within the office of the governor as the successor to the Texas emerging technology fund, which is abolished under the bill. The bill requires TEDTO to award matching grants from the governor's university research initiative fund established by the bill to assist a general academic teaching institution or medical and dental unit in recruiting distinguished researchers, giving priority to recruitment in the fields of science, technology, engineering, mathematics, and medicine. The bill requires the Texas Treasury Safekeeping Trust Company to manage and wind up the state's emerging technology investment portfolio and provides for the disposition of the balance of the Texas emerging technology fund and the winding up of contracts and awards in connection with the fund.