HOUSE AMENDMENT Bill No. CS/CS/SB 6E
1	CHAMBER ACTION
2	Senate House
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12	Representative Antone offered the following:
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14	Amendment
15	On page 14, line(s) 24 through page 15, line 22,
16	remove: all of said lines
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18	and insert:
19	(a) The grantee shall reinvest a percentage of the net
20	royalty revenues and of the revenues from the sale of stock
21	received by The Scripps Research Institute from the licensing or
22	transfer of inventions, methods, processes, and other patentable
23	activities conceived or reduced to practice using facilities or
24	employees of the grantee following the execution of the contract
25	between the corporation and the grantee, as provided in
26	paragraph (c). For purposes of this paragraph, the term “net
27	royalty revenues” means all royalty revenues less the cost of
28	obtaining, maintaining, and enforcing related patent and
29	intellectual property rights, both foreign and domestic.
30	Reinvestment payments under this subsection shall commence no
31	later than 6 months after the grantee has received the final
32	disbursement under the contract and continue until the grantee
33	has reinvested pursuant to paragraph (c) the percentage of all
34	the net royalty revenues and proceeds from the sale of stock
35	related to the grantee’s operation after the execution of the
36	contract.
37	(b) The grantee shall reinvest a percentage of the gross
38	revenues it receives from naming opportunities associated with
39	any facility it builds in this state, as provided in paragraph
40	(c). For purposes of this paragraph, the term “naming
41	opportunities” includes charitable donations from any person in
42	consideration for the right to have all or a portion of the
43	facility named for or in the memory of any person, living or
44	dead, or for any entity. The obligation to make reinvestment
45	payments under this subsection shall commence upon the execution
46	of the contract between the corporation and the grantee.
47	(c) The total amount of revenues reinvested by the grantee
48	under this subsection shall be:
49	1. Fifteen percent of up to $155 million in such revenues,
50	or $200 million if performance measures are not met.
51	2. Ten percent thereafter up to $300 million in such
52	revenues, or $369 million if performance measures are not met.
53	3. Five percent thereafter.
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55	One-half of all reinvestment payments made pursuant to this
56	subsection shall be remitted to the state for deposit in the
57	Biomedical Research Trust Fund, or if such fund has ceased to
58	exist, in another trust fund that supports biomedical research,
59	as determined by law. The remaining one-half of such
60	reinvestment payments shall be distributed to the Emergency
61	Technologies Commission for distribution to centers of
62	excellence established pursuant to s. 1004.225.
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