HOUSE AMENDMENT Bill No. HB 1E CS
1	CHAMBER ACTION
2	Senate House
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12	Representative Ryan offered the following:
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14	Amendment to Amendment (883759)
15	Remove lines 458-504, and insert:
16	(a) The grantee shall reinvest a percentage of the net
17	royalty revenues and of the revenues from the sale of stock
18	received by The Scripps Research Institute from the licensing or
19	transfer of inventions, methods, processes, and other patentable
20	activities conceived or reduced to practice using facilities or
21	employees of the grantee following the execution of the contract
22	between the corporation and the grantee, as provided in
23	paragraph (c). For purposes of this paragraph, the term “net
24	royalty revenues” means all royalty revenues less the cost of
25	obtaining, maintaining, and enforcing related patent and
26	intellectual property rights, both foreign and domestic.
27	Reinvestment payments under this subsection shall commence no
28	later than 6 months after the grantee has received the final
29	disbursement under the contract and continue until the grantee
30	has reinvested pursuant to paragraph (c) the percentage of all
31	the net royalty revenues and proceeds from the sale of stock
32	related to the grantee’s operation after the execution of the
33	contract.
34	(b) The grantee shall reinvest a percentage of the gross
35	revenues it receives from naming opportunities associated with
36	any facility it builds in this state, as provided in paragraph
37	(c). For purposes of this paragraph, the term “naming
38	opportunities” includes charitable donations from any person in
39	consideration for the right to have all or a portion of the
40	facility named for or in the memory of any person, living or
41	dead, or for any entity. The obligation to make reinvestment
42	payments under this subsection shall commence upon the execution
43	of the contract between the corporation and the grantee.
44	(c) The total amount of revenues reinvested by the grantee
45	under this subsection shall be:
46	1. Fifteen percent of up to $155 million in such revenues,
47	or $200 million if performance measures are not met.
48	2. Ten percent thereafter up to $300 million in such
49	revenues, or $369 million if performance measures are not met.
50	3. Five percent thereafter.
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52	All reinvestment payments made pursuant to this subsection shall
53	be remitted to the state for deposit in the Biomedical Research
54	Trust Fund, or if such fund has ceased to exist, in another
55	trust fund that supports biomedical research, as determined by
56	law.
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