2011 Utah Code
Title 63M Governor's Programs
Chapter 1 Governor's Office of Economic Development
Section 704 Administration -- Grants and loans.

63M-1-704. Administration -- Grants and loans.
(1) The Governor's Office of Economic Development shall administer this part.
(2) (a) (i) The office may award Technology Commercialization and Innovation Program grants or issue loans to the various colleges, universities, and licensees in the state for the purposes of this part.
(ii) If loans are issued under Subsection (2)(a)(i), the Division of Finance may set up a fund or account as necessary for the proper accounting of the loans.
(b) The Governor's Office of Economic Development shall develop a process to determine whether a college or university that receives a grant under this part must return the grant proceeds or a portion of the grant proceeds if the technology that is developed with the grant proceeds is licensed to a licensee that:
(i) does not maintain a manufacturing or service location in the state from which the licensee or a sublicensee exploits the technology; or
(ii) initially maintains a manufacturing or service location in the state from which the licensee or a sublicensee exploits the technology, but within five years after issuance of the license the licensee or sublicensee transfers the manufacturing or service location for the technology to a location out of the state.
(c) A repayment by a college or university of grant proceeds or a portion of the grant proceeds shall come only from the proceeds of the license established between the licensee and the college or university.
(d) (i) A licensee that receives a grant under this part shall return the grant proceeds or a portion of the grant proceeds to the office if the licensee:
(A) does not maintain a manufacturing or service location in the state from which the licensee exploits the technology; or
(B) initially maintains a manufacturing or service location in the state from which the licensee exploits the technology, but within five years after issuance of the grant the licensee transfers the manufacturing or service location for the technology to an out of state location.
(ii) A repayment by a licensee that receives a grant shall come only from the proceeds of the license to that licensee.
(iii) A repayment by a licensee shall be prorated based only on the number of full years the licensee operated in the state from the date of the awarded grant.
(3) (a) Funding allocations shall be made by the office with the advice of the State Advisory Council for Science and Technology and the board.
(b) Each proposal shall receive the best available outside review.
(4) (a) In considering each proposal, the office shall weigh technical merit, the level of matching funds from private and federal sources, and the potential for job creation and economic development.
(b) Proposals or consortia that combine and coordinate related research at two or more colleges and universities shall be encouraged.
(5) The State Advisory Council on Science and Technology shall review the activities and progress of grant recipients on a regular basis and assist the office in preparing an annual report on the accomplishments and direction of the Technology Commercialization and Innovation Program.