AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

Currently, royalties, licensing fees, and other income collected by the state as a result of grant projects funded by the Cancer Prevention and Research Institute of Texas (CPRIT) can be used to fund grants, purchase laboratory facilities, implement the Texas Cancer Plan, or operate CPRIT.  However, these sources of income may not be used to service the bonds that are issued on behalf of CPRIT.

 

S.B. 150 moves CPRIT towards the goal of self-sufficiency by allowing royalties, patent and license fees, gifts, grants, donations, and interest earned on investments made in the Cancer Prevention and Research Fund to be used for debt service on CPRIT bonds. S.B. 150 also specifies that CPRIT may not use actual bond proceeds to fund the debt service on bonds.

 

As proposed, S.B. 150 amends current law relating to the cancer prevention and research fund.

 

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. Amends Sections 102.201(b) and (c), Health and Safety Code, as follows:

 

(b) Prohibits appropriations of money to the cancer prevention and research fund (fund) by the legislature, from including the proceeds from the issuance of bonds authorized by Section 67 (Cancer Prevention and Research Institute of Texas), Article III, Texas Constitution.

 

(c) Authorizes the fund to be used only to pay for certain purposes, including debt service on bonds issued as authorized by Section 67, Article III, Texas Constitution.

 

SECTION 2. Effective date: upon passage or September 1, 2013.