By: Schwertner, Bettencourt S.B. No. 197
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the financial self-sufficiency of the Cancer Prevention
  and Research Institute of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter A, Chapter 102, Health and Safety
  Code, is amended by adding Section 102.005 to read as follows:
         Sec. 102.005.  FINANCIAL SELF-SUFFICIENCY PLAN.  (a)  The
  institute shall develop a plan that specifies how the institute
  will become financially self-sufficient and continue to operate
  without state funding with the exception of patent royalties and
  license revenues realized as a result of projects undertaken with
  money awarded under Subchapter E.
         (b)  The plan described by Subsection (a) must:
               (1)  specify the steps the institute will take to
  accomplish the transition to financial self-sufficiency after
  issuance of the $3 billion in general obligation bonds authorized
  by Article III, Section 67 of the Texas Constitution;
               (2)  specify sources of funding other than state money
  to be used to operate the institute after issuance of the $3 billion
  in general obligation bonds authorized by Article III, Section 67
  of the Texas Constitution; and
               (3)  describe how the institute will structure
  state-funded grants, to ensure that all grants that use state money
  are closed out when the last of the $3 billion in general obligation
  bonds authorized by Article III, Section 67 of the Texas
  Constitution is used to reimburse grant awardees for allowable
  expenditures pursuant to institute award contract terms.
         (c)  The institute shall submit the initial plan to the
  legislature not later than December 1, 2016. The institute shall
  submit an updated plan before December 1 of each subsequent year.
         (d)  This section expires September 1, 2021.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2015.