Florida Senate - 2008 SB 738
By Senator Saunders
37-00005A-08 2008738__
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A bill to be entitled
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An act relating to the Florida Research Commercialization
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Matching Grant Program; creating s. 288.9552, F.S.;
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providing legislative findings and intent; creating the
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program; providing definitions; creating a statewide
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advisory committee for certain purposes; providing for the
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members of the committee to be reimbursed for per diem and
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travel expenses; requiring reports; designating a
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fiduciary actor; providing for program administrative
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costs and award disbursement; providing that unallocated
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legislative appropriations for the matching grant program
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at the end of the fiscal year shall carry forward to
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succeeding fiscal years as authorized by state law;
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providing for a program administrator; providing
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responsibilities of the program administrator; creating a
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grant-selection committee; providing responsibilities of
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the grant-selection committee; providing applicant
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eligibility guidelines; providing for awards to successful
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applicants; providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 288.9552, Florida Statutes, is created
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to read:
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288.9552 Florida Research Commercialization Matching Grant
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Program.--
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(1) PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.--
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(a) The purpose of the Florida Research Commercialization
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Matching Grant Program is to increase the amount of federal
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funding coming to this state which will produce the kind of
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distinctive technologies that drive today's knowledge-based
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economy. By leveraging federal, state, and private-sector
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resources, the program intends to accelerate the innovation
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process and more efficiently transform research results into
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products in the marketplace.
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(b) The matching grant program is specifically intended to
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be a catalyst for small or startup companies that can take
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advantage of federal and state partnerships in order to
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accelerate their growth and market penetration by helping to
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overcome the funding gap faced by many small companies that are
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based in this state. Specific goals and objectives of the program
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include:
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1. Increasing the amount of federal research moneys
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received by small businesses in this state through awards from
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the Small Business Innovation Research Program and Small Business
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Technology Transfer Program of the Office of Technology of the
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United States Small Business Administration.
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2. Accelerating the entry of new technology-based products
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into the marketplace.
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3. Producing additional technology-based jobs for the
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state.
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4. Providing leveraged resources to increase the
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effectiveness and success of applicants' projects.
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5. Speeding commercialization of promising technologies.
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6. Encouraging the establishment and growth of high-
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quality, advanced technology firms in the state.
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7. Accelerating deal flow and enhancing the state's
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investment infrastructure.
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(c) The Florida Research Commercialization Matching Grant
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Program is created for the purpose of accomplishing the goals and
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objectives specified in this section.
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(2) STATEWIDE ADVISORY COMMITTEE.--A statewide advisory
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committee is created to develop programmatic policy, ensure
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statewide applicability of the matching grant program, establish
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criteria for grant awards, approve grant awards, review program
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progress and results, and communicate program results to state
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policymakers.
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(a) The committee shall consist of 15 members representing
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the diverse geography of the state. The Governor, the President
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of the Senate, and the Speaker of the House of Representatives
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shall each appoint one member for a 4-year term from each of the
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following:
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1. Florida university technology commercialization
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organizations.
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2. Research institutes in the state.
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3. The state's early stage venture capital community.
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4. Entrepreneurs representing a startup company.
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(b) In addition, the Governor shall appoint one member
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representing a regional technology development organization in
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the state and one member of the board of the Florida Research
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Consortium.
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(c) The chairperson of the Technology Entrepreneurship and
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Capital Board Committee of Enterprise Florida, Inc., shall serve
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on the committee. Committee members shall elect from the
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membership the chairperson of the committee. Seats vacated on the
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committee shall be filled in the same manner as the original
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appointment.
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(d) Members of the committee shall serve without
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compensation, but are entitled to reimbursement for per diem and
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travel expenses in accordance with s. 112.061 while performing
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their duties.
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(e) Enterprise Florida, Inc., shall provide staff support
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for the committee.
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(f) The committee shall hold its initial meeting no later
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than October 1, 2008. Subsequent meetings shall be held upon the
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call of the chair.
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(g) Beginning September 1, 2009, and annually thereafter,
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the committee shall transmit an annual report to the Governor,
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the President of the Senate, and the Speaker of the House of
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Representatives for the previous fiscal year.
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(3) FIDUCIARY.--Enterprise Florida, Inc., shall accept
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money appropriated by the Legislature for providing grants
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through the matching grant program. Enterprise Florida, Inc.,
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shall award money to an applicant if:
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(a) The statewide advisory committee approves the award;
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(b) The applicant demonstrates that it has obtained a
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federal Small Business Innovation Research Program or Small
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Business Technology Transfer Program Phase II award; and
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(c) The applicant executes a performance contract with
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Enterprise Florida, Inc.
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Unallocated legislative appropriations for the matching grant
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program at the end of the fiscal year shall carry forward to
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succeeding fiscal years as provided under s. 288.904(1)(j).
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(4) PROGRAM ADMINISTRATOR.--Subject to appropriations,
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Enterprise Florida, Inc., shall serve as program administrator.
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Enterprise Florida, Inc., may contract for the performance of all
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or some of its functions with a third party. Not more than 10
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percent of a legislative appropriation may be used for
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administrative purposes. The responsibilities of the program
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administrator include, but are not limited to:
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(a) Establishing and coordinating the grant-selection
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committee;
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(b) Administering the grant-selection process, including,
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but not limited to, issuing open-call requests for grant
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applications and receiving, reviewing, and processing grant
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applications;
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(c) Serving as grant contract manager for recipients of a
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matching grant;
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(d) Reporting program progress and results and programmatic
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recommendations for change to the statewide advisory committee;
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(e) Establishing a technical assistance network composed of
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small business development centers, technology incubators, and
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university technology transfer offices within the state. Network
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members shall publicize the program and facilitate participation
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in the matching grant program; and
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(f) Establishing a mechanism by which information regarding
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grant projects may be made available to facilitate additional
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angel, seed, or venture capital investment.
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(5) GRANT-SELECTION COMMITTEE.--The grant-selection
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committee shall consist of not fewer than five members chosen by
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the program administrator. The members must be experienced in
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conducting, reviewing, and evaluating research and development
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projects for commercialization potential or must have a
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successful track record in developing technology
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commercialization programs or managing investments in early stage
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companies. The grant-selection committee must review grant
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applications using adopted grant criteria, recommend grant awards
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and grant amounts to the statewide advisory committee, and
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perform other duties as required by the program administrator.
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The amount of each grant awarded may not be less than $100,000
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and not more than $250,000.
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(6) ELIGIBILITY GUIDELINES.--
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(a) An applicant for a research commercialization matching
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grant must be a corporation that is registered with the Secretary
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of State to operate in this state. If an applicant is not based
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in this state, a grant award is contingent upon the applicant
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successfully registering to do business in this state.
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(b) An applicant must be a small company for which a state
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matching grant is necessary for project development and
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implementation.
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(c) An applicant must have received a federal Small
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Business Innovation Research Program or Small Business Technology
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Transfer Program Phase I award and have received an invitation to
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submit an application for a Phase II award. If a Phase II award
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has already been issued, the end date of the federal award must
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be identified and justification must be provided as to how these
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additional funds will enhance, not supplant, the existing award.
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(d) An applicant must identify all sources of project
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funding. Reported project funding must demonstrate that:
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1. At least 20 percent of the project's total funding must
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come from the federal government.
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2. No more than 25 percent of the project's total funding
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may be provided by the state grant. Funds from the state matching
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grant program may not supplant or lessen the amount of funds
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committed by other project partners.
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3. At least 25 percent of the project's total funding must
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be provided by sources other than the state grant and the Federal
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Government. Funding from the applicant or a partner may be used
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to satisfy this requirement. External funds may consist of cash
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or in-kind contributions.
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(e) Projects funded by the matching grant program must be
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conducted in this state.
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(7) AWARDS.--The program shall make 20 to 30 awards,
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ranging from $100,000-$250,000 each, for a total of $5 million.
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Section 2. This act shall take effect upon becoming a law.
CODING: Words stricken are deletions; words underlined are additions.