Senate Bill 44 (SB44) creates the Research Grants Closing Fund (Fund) and provides for application, and review. SB 44 makes an appropriation of $10,000,000 from the General Fund.
Senate Bill 44 (SB44) creates the Research Grants Closing Fund (Fund) and provides for application, and review. SB ?? makes an appropriation of $10,000,000 from the General Fund.
SB44 Section one creates the Research Grants Closing Fund as follows:
The Fund is created as a nonreverting fund in the state treasury. SB44 describes the funds, assigns the Higher Education Department (HED) to administer the Fund, specifies the purpose of the fund, specifies who shall disburse the funds. The purpose of the fund is 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.
A state public post-secondary educational institution may apply to the higher education department for a grant from the research grants closing fund in accordance with rules promulgated by the department to be used to meet matching fund requirements of research grants. Closing grants shall be based on a competitive process with applications reviewed by a panel of experts established by the department in consultation with the presidents of those state public post-secondary educational institutions. The review panel shall judge proposals based on excellence in research design and other factors, if any, determined by the department and announced when grant applications are being sought.
C. 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 $10,000,000 from the General Fund to the Research Grants Closing Fund for expenditure in Fiscal Year 2022 and subsequent fiscal years to carry out the purposes of the fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the General Fund.