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A BILL TO BE ENTITLED
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AN ACT
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relating to the financial self-sufficiency of the Cancer Prevention |
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and Research Institute of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 102, Health and Safety |
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Code, is amended by adding Section 102.005 to read as follows: |
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Sec. 102.005. FINANCIAL SELF-SUFFICIENCY PLAN. (a) The |
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institute shall develop a detailed plan for the institute to become |
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financially self-sufficient and to continue operations without |
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state funds other than patent royalties and license revenues |
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realized as a result of projects undertaken with money awarded |
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under Subchapter E. |
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(b) The plan described by Subsection (a) must: |
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(1) specify the steps the institute will take to |
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accomplish the transition to financial self-sufficiency after |
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issuance of the $3 billion in general obligation bonds authorized |
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by Section 67, Article III, Texas Constitution; |
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(2) specify sources of funding other than state money |
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that may be used to operate the institute after issuance of the $3 |
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billion in general obligation bonds authorized by Section 67, |
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Article III, Texas Constitution; and |
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(3) describe the institute's method for structuring |
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each state-funded grant to ensure that a grant recipient completes |
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any contractual obligation for which the grant was awarded after |
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all of the $3 billion in general obligation bonds authorized by |
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Section 67, Article III, Texas Constitution, is awarded to |
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reimburse grant recipients for allowable expenditures pursuant to |
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the institute's grant contract terms. |
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(c) The institute shall submit the plan described by |
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Subsection (a) to the legislature not later than December 1, 2020. |
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The institute shall submit any modification to the plan before |
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December 1 of each subsequent year. |
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(d) This section expires September 1, 2023. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2019. |