2012 Revised Code of Washington
Title 70 - PUBLIC HEALTH AND SAFETY
70.210 Investing in innovation grants program.
70.210.040 Loan or grant award criteria.

RCW 70.210.040 Loan or grant award criteria.

The board shall:

     (1) Develop criteria for the awarding of loans or grants to qualifying universities, institutions, businesses, or individuals;

     (2) Make decisions regarding distribution of funds;

     (3) In making funding decisions and to the extent that economic impact is not diminished, provide priority to enterprises that:

     (a) Were created through, and have existing intellectual property agreements in place with, public and private research institutions in the state; and

     (b) Intend to produce new products or services, develop or expand facilities, or manufacture in the state; and

     (4) Specify in contracts awarding funds that recipients must utilize funding received to support operations in the state of Washington and must subsequently report on the impact of their research, development, and any subsequent production activities within Washington for a period of ten years following the award of funds, and that a failure to comply with this requirement will obligate the recipient to return the amount of the award plus interest as determined by the board.

[2011 1st sp.s. c 14 § 10; 2003 c 403 § 5.]

Notes:

Effective date -- 2011 1st sp.s. c 14: See RCW 43.333.901.