2011 Louisiana Laws
TITLE 39 — Public finance
RS 39:100.124 — Technology commercialization fund
SUBPART Q-3. TECHNOLOGY COMMERCIALIZATION FUND
§100.124. Technology Commercialization Fund
A. The Technology Commercialization Fund, hereinafter referred to as the "fund", is hereby established as a special fund in the state treasury for purposes of supporting a competitive grants program for commercialization of technologies developed at accredited Louisiana institutions of higher education and academic research centers as provided in Subsection C of this Section. Monies shall be transferred, subject to an annual appropriation by the legislature, into the Technology Commercialization Fund.
B. Monies in the fund shall be invested by the state treasurer in the same manner as those in the state general fund and interest earnings on the investment of monies in the fund shall be credited to the fund. Any unencumbered or unexpended monies in the fund at the end of the fiscal year shall remain in the fund.
C. Subject to an annual appropriation by the legislature, monies in the fund shall be used by the Louisiana Economic Development Corporation, hereinafter referred to as the "corporation", to provide for a competitive grants program for the advancement of commercialization of technologies developed at accredited Louisiana institutions of higher education and academic research centers. The corporation shall establish a committee to assist in the review and consideration of proposals for grants. The committee shall be comprised of representatives of the public and private sectors, of which a majority of members shall be from the private sector. The corporation shall develop the rules of the grants program, to include the methods and form of grant application and award thresholds.
Acts 2009, No. 226, §1, eff. July 1, 2009.
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