HOUSE AMENDMENT Bill No. HB 1E CS
1	CHAMBER ACTION
2	Senate House
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12	Representative Wiles offered the following:
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14	Amendment
15	Remove lines 429-469, and insert:
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17	(a) The grantee shall reinvest 15 percent of the net
18	royalty revenues and of the revenues from the sale of stock
19	received by The Scripps Research Institute from the licensing or
20	transfer of inventions, methods, processes, and other patentable
21	activities conceived or reduced to practice using facilities or
22	employees of the grantee following the execution of the contract
23	between the corporation and the grantee. For purposes of this
24	paragraph, the term “net royalty revenues” means all royalty
25	revenues less the cost of obtaining, maintaining, and enforcing
26	related patent and intellectual property rights, both foreign
27	and domestic. Reinvestment payments under this subsection shall
28	commence no later than 6 months after the grantee has received
29	the final disbursement under the contract and continue until the
30	grantee has reinvested 15 percent of all the net royalty
31	revenues and proceeds from the sale of stock related to the
32	grantee’s operation after the execution of the contract.
33	(b) The grantee shall reinvest 15 percent of the gross
34	revenues it receives from naming opportunities associated with
35	any facility it builds in this state. For purposes of this
36	section, the term “naming opportunities” includes charitable
37	donations from any person in consideration for the right to have
38	all or a portion of the facility named for or in the memory of
39	any person, living or dead, or for any entity. The obligation to
40	make reinvestment payments under this subsection shall commence
41	upon the execution of the contract between the corporation and
42	the grantee.
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44	One-half of all reinvestment payments made pursuant to this
45	subsection shall be remitted to the state for deposit in the
46	Biomedical Research Trust Fund, or if such fund has ceased to
47	exist, in another trust fund that supports biomedical research,
48	as determined by law, and one-half shall be remitted to the
49	state for distribution to private nonprofit and public 4-year
50	universities in this state to be used for research as provided
51	in s. 1004.22. Distributions to universities shall be made pro
52	rata based on prior year enrollments. Notwithstanding paragraphs
53	(a) and (b), the required percentages for reinvestment under
54	this subsection shall be 20 percent if the board of directors
55	determines that the specified performance expectations and
56	performance measures have not been met.
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