Actions:  SCC/SEC/SFC-SCC API.
Scheduled: Not Scheduled
Senate Bill 25 (SB 25) creates a Research Grants Closing Fund to provide matching funds for research grants at post-secondary educational institutions; provides for a competitive application process; provides for a review panel; and makes an appropriation.Legislation Overview:
Senate Bill 25 (SB 25) adds new material to Higher Education. SECTION 1 adds new material titled: RESEARCH GRANTS CLOSING FUND CREATED--APPLICATION PROCESS--REVIEW PANEL Subsection A creates the Research Grants Closing Fund (RGCF) as a nonreverting fund in the state treasury. The Higher Education Department (HED) shall administer the fund to provide researchers at the state's public post-secondary educational institutions with required matching funds needed to receive research grants from public or private sources. Subsection B specifies the application process for a grant from RGCF. Closing grants shall be based on a competitive process with applications reviewed by a panel of experts. Subsection C requires that to apply for a closing grant a state public post-secondary educational institution must have equal or greater matching funds for the research proposal from sources other than the state. SECTION 2 appropriates $40,000,000 from the General Fund to the RGCF for expenditure in Fiscal Year 2023 and subsequent fiscal years. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the General Fund.Status Quo:
If SB 25 fails, there will be less funding directly available for post-secondary institutions to match research funds for public and private grants.