SCS HB 490(STA): "An Act relating to grants and other financial assistance authorized or made by the Alaska Science and Technology Foundation for the BIDCO assistance program."
00SENATE CS FOR HOUSE BILL NO. 490(STA) 01 "An Act relating to grants and other financial assistance authorized or made 02 by the Alaska Science and Technology Foundation for the BIDCO assistance 03 program." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 37.17.020(b) is amended to read: 06 (b) The endowment shall be held and invested by the Alaska Permanent Fund 07 Corporation subject to AS 37.13.120; however, net income from the endowment shall 08 be distributed under AS 37.17.010 - 37.17.110 and 37.17.225. Net income from the 09 endowment may not be included in the computation of net income available for 10 distribution under AS 37.13.140. 11 * Sec. 2. AS 37.17.030(d) is amended to read: 12 (d) Except for payments under (c) of this section, the board of directors shall 13 distribute the income of the endowment through competitive grants under 14 AS 37.17.010 - 37.17.110 and 37.17.225. The board may disburse money that is
01 received by the foundation for special or general purposes. 02 * Sec. 3. AS 37.17.090(a) is amended to read: 03 (a) The board of directors shall provide adequate and appropriate notice of all 04 solicitations for grant proposals at least once a year. Except for projects listed in (k) 05 of this section and grants under AS 37.17.225, the board shall give preference, 06 consistent with the purposes of AS 37.17.010 - 37.17.110, to soliciting proposals for 07 research projects that are reasonably expected to use or enhance research capabilities 08 for basic and applied research in the state. The board may actively solicit persons, 09 organizations, or institutions to apply for general or specific grants. 10 * Sec. 4. AS 37.17.090(b) is amended to read: 11 (b) Except for grants under AS 37.17.225, grant [GRANT] proposals must 12 be submitted for impartial and competitive peer review for scientific and technical 13 validity by a panel of recognized experts appointed by the board of directors. 14 Members of a peer review panel are entitled to per diem and travel expenses 15 authorized under AS 39.20.180. The identity of members of a peer review panel is 16 confidential until final action is taken by the board on the grant proposal. The board 17 shall consider the recommendations of the panel in deciding whether to award a grant. 18 The board may exempt grants of $5,000 or less from peer review. 19 * Sec. 5. AS 37.17.090(c) is amended to read: 20 (c) Except for grants under AS 37.17.225, grant [GRANT] awards by the 21 board must be consistent with the policy and research priorities identified by the 22 foundation under AS 37.17.420. 23 * Sec. 6. AS 37.17.090(d) is amended to read: 24 (d) Except for grants awarded under (k) of this section and under 25 AS 37.17.225, not less than 50 percent of the endowment income that is distributed 26 to grantees by the foundation in a fiscal year must be for grant payments in that fiscal 27 year of $100,000 or less, exclusive of other funding. 28 * Sec. 7. AS 37.17.090(g) is amended to read: 29 (g) As a condition of all grants awarded under AS 37.17.010 - 37.17.110 or 30 37.17.225, the board of directors shall require that a fair and reasonable return to the 31 foundation, as determined by the board, from the revenue, economic value, or profits
01 derived by the grantee from the grant project be paid into the principal of the 02 endowment, subject to AS 37.07. To secure payment of sums owed to the foundation 03 under a grant agreement, the foundation may take a security interest in and own 04 patents, copyrights, and other intellectual property. 05 * Sec. 8. AS 37.17.220(b) is amended to read: 06 (b) The foundation may not authorize new financial assistance under 07 AS 37.17.200 - 37.17.390 after June 30, 2000 [1996], without the approval of the 08 legislature. 09 * Sec. 9. AS 37.17 is amended by adding a new section to read: 10 Sec. 37.17.225. ENDOWMENT GRANTS. From the income of the 11 endowment established under AS 37.17.020, the foundation may make grants under 12 AS 37.17.010 - 37.17.110 to accomplish the purposes of AS 37.17.200. However, to 13 make the grants under this section the foundation may not use more than $2,000,000 14 of the income of the endowment, in addition to the endowment income appropriated 15 to the foundation for the BIDCO fund under ch. 79, SLA 1993, other money 16 appropriated to the foundation for the grants, and private contributions made to the 17 foundation for the grants.