HOUSE AMENDMENT Bill No. HB 1E CS
1	CHAMBER ACTION
2	Senate House
3	.
4	.
5	.
6
7
8
9
10
11
12	Representative Ryan offered the following:
13
14	Amendment to Amendment (565379) (with directory and title
15	amendments)
16	Remove line(s) 463-509, and insert:
17	(a) The grantee shall reinvest a percentage 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, as provided in
24	paragraph (c). For purposes of this paragraph, the term "net
25	royalty revenues" means all royalty revenues less the cost of
26	obtaining, maintaining, and enforcing related patent and
27	intellectual property rights, both foreign and domestic.
28	Reinvestment payments under this subsection shall commence no
29	later than 6 months after the grantee has received the final
30	disbursement under the contract and continue until the grantee
31	has reinvested pursuant to paragraph (c) the percentage of all
32	the net royalty revenues and proceeds from the sale of stock
33	related to the grantee’s operation after the execution of the
34	contract.
35	(b) The grantee shall reinvest a percentage of the gross
36	revenues it receives from naming opportunities associated with
37	any facility it builds in this state, as provided in paragraph
38	(c). For purposes of this paragraph, the term “naming
39	opportunities” includes charitable donations from any person in
40	consideration for the right to have all or a portion of the
41	facility named for or in the memory of any person, living or
42	dead, or for any entity. The obligation to make reinvestment
43	payments under this subsection shall commence upon the execution
44	of the contract between the corporation and the grantee.
45	(c) The total amount of revenues reinvested by the grantee
46	under this subsection shall be:
47	1. Fifteen percent of up to $155 million in such revenues,
48	or $200 million if performance measures are not met.
49	2. Ten percent thereafter up to $300 million in such
50	revenues, or $369 million if performance measures are not met.
51	3. Five percent thereafter.
52
53	All reinvestment payments made pursuant to this subsection shall
54	be remitted to the state for deposit in the Biomedical Research
55	Trust Fund, or if such fund has ceased to exist, in another
56	trust fund that supports biomedical research, as determined by
57	law.
58