HOUSE AMENDMENT Bill No. CS/CS/SB 6E
1	CHAMBER ACTION
2	Senate House
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12	Representative Sobel 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:
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21	(12) REINVESTMENT OF ECONOMIC STIMULUS FUNDS IN THE
22	BIOMEDICAL RESEARCH TRUST FUND.--The contract between the
23	corporation and the grantee shall require the grantee to
24	reinvest a portion of its revenues as follows:
25	(a) The grantee shall reinvest 15 percent of the net
26	royalty revenues and of the revenues from the sale of stock
27	received by The Scripps Research Institute from the licensing or
28	transfer of inventions, methods, processes, and other patentable
29	activities conceived or reduced to practice using facilities or
30	employees of the grantee. For purposes of this paragraph, the
31	term “net royalty revenues” means all royalty revenues less the
32	cost of 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.
37	(b) The grantee shall reinvest 15 percent of the gross
38	revenues it receives from naming opportunities associated with
39	any facility it builds in this state. For purposes of this
40	paragraph, the term "naming opportunities" includes charitable
41	donations from any person in consideration for the right to have
42	all or a portion of the facility named for or in the memory of
43	any person, living or dead, or for any entity. The obligation to
44	make reinvestment payments under this subsection shall commence
45	upon the execution of the contract between the corporation and
46	the grantee.
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48	All public universities and private not-for-profit universities
49	in this state shall receive 75 percent of reinvestment payments
50	made pursuant to this subsection and 25 percent of such payments
51	shall be remitted to the state for deposit in the Biomedical
52	Research Trust Fund, or if such fund has ceased to exist, in
53	another trust fund that supports biomedical research, as
54	determined by law.
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