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