HB 617 -- Life Sciences Funding Districts

Co-Sponsors:  Dempsey, Cooper (120), Campbell, Ervin

This bill establishes the Life Sciences Research Fund, which will
be administered by the Missouri Development Finance Board.
Specific new local tax revenues and payments in lieu of taxes
(PILOTS) generated by a life sciences company within the district
will be deposited into the fund.  The new local tax revenue and
PILOTS attributable to a particular district will be disbursed by
the board, but only to a state university located within that
district.  The money disbursed by the board can only be used for
funding life sciences research projects.

If local revenue deposited in the fund will be insufficient to
adequately fund life sciences projects, the board can apply to
use specific new state revenues that are generated by life
science companies within the districts.  The board's application
will be submitted to the Department of Economic Development and
the Office of Administration.  No state funding can be
appropriated unless the board's application is approved.

The board will annually conduct peer review of the merits of all
life sciences projects seeking funds.  Peer review will be a
professional evaluation of the project by experts contracted by
the board.  Reviewers cannot have any affiliation with the
project or the university conducting the research.  The peer
reviewers will recommend approval or disapproval of each project
and will assign funding priority scores according to each
project's merit.  Approved projects will be ranked by their
funding priority score and will be funded in that order.

Prior to receiving funds, the university must submit a strategic
plan detailing the goals of the university's life sciences
research and the methods by which these goals will be attained.

A life sciences funding district can be designated by the board
in certain counties, but only if a state university located
within the proposed district submits an application to the board
for its designation.

The counties in which a district may be designated are Audrain,
Boone, Callaway, Cole, Cooper, Franklin, Howard, Jackson,
Jefferson, Moniteau, Randolph, St. Charles, and St. Louis.  A
district can also be established in Kansas City.

The bill contains an emergency clause.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:12 am