00CS FOR HOUSE BILL NO. 117(L&C)                                                                                        
01 "An Act relating to grant procedures of the Alaska Science and Technology                                               
02 Foundation."                                                                                                            
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 37.17.090(b) is amended to read:                                                                  
05  (b)  Except for grants under AS 37.17.225, grant proposals must be submitted                                          
06 for impartial and competitive peer review for scientific and technical validity by a                                    
07 panel of recognized experts appointed by the board of directors.  Members of a peer                                     
08 review panel are entitled to per diem and travel expenses authorized under                                              
09 AS 39.20.180.  The identity of members of a peer review panel is confidential until                                     
10 final action is taken by the board on the grant proposal.  The board shall consider the                                 
11 recommendations of the panel in deciding whether to award a grant.  The board may                                       
12 exempt grants of $5,000 or less from peer review.   The board may appoint board                                        
13 members to perform the peer review of grant proposals under $20,000 if board                                            
14 members are recognized impartial experts in the relevant areas.                                                        

01    * Sec. 2.  AS 37.17.090(g) is amended to read:                                                                     
02  (g)  As a condition of all grants awarded under AS 37.17.010 - 37.17.110 or                                           
03 37.17.225, the board of directors shall require that a fair and reasonable return to the                                
04 foundation, as determined by the board, from the revenue, economic value, or profits                                    
05 derived by the grantee from the grant project be paid into the principal of the                                         
06 endowment, subject to AS 37.07.  To secure payment of sums owed to the foundation                                       
07 under a grant agreement, the foundation may take a security interest in  or  [AND] own                                
08 patents, copyrights, and other intellectual property  that are developed as part of the                                
09 grant project after the grant is awarded.  The foundation shall periodically notify                                     
10 grantees in writing of their repayment obligation under this subsection and shall                                       
11 require grantees to submit annual financial statements until the obligation is                                          
12 satisfied or ceases to exist.  The foundation shall request the assistance of the                                       
13 attorney general in enforcing the repayment provisions of a grant agreement                                             
14 when other efforts by the foundation have not had satisfactory results .