SRC-CTC S.B. 550 77(R) BILL ANALYSIS Senate Research Center S.B. 550 77R4773 ATP-FBy: Bernsen Business & Commerce 2/12/2001 As Filed DIGEST AND PURPOSE Currently, the impact of the life science industry on Texas includes a significant investment in research and development, a large amount of employment, and a positive impact on the gross state product. As proposed, S.B. 550 creates a governor-appointed task force with representatives from various entities to identify barriers to growth in the life science industry in Texas. The task force is to make recommendations to the legislature regarding research funding and support, commercialization, capital formation, workforce, infrastructure, and consumer access. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Requires the governor, not later than October 1, 2001, to appoint 21 members to serve on a life science task force (task force). Sets forth the membership of the task force. Requires the task force to perform certain functions and submit to the legislature, not later than January 1, 2003, a detailed report of its findings accompanied by recommended solutions to the major issues facing the growth of the life science industry. SECTION 2. Provides that this Act expires February 1, 2003. SECTION 3. Effective date: upon passage or September 1, 2001.