Text: HSB00179 Text: HSB00181 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 10C.6, subsection 1, paragraph a, 1 2 subparagraph (1), Code 2003, is amended to read as follows: 1 3 (1) The life science enterprise acquires the agricultural 1 4 land on or before June 30,20042008. 1 5 Sec. 2. NEW SECTION. 15E.221 ANIMAL BIOTECHNOLOGY 1 6 COMMERCIALIZATION FUND. 1 7 1. An animal biotechnology commercialization fund is 1 8 created in the state treasury under the control of the 1 9 department of economic development. Moneys in the fund shall 1 10 be used to provide financial assistance in the form of grants 1 11 and loans for all of the following: 1 12 a. Constructing infrastructure and developing proprietary 1 13 biotechnology interests in order to implement life science 1 14 enterprise plans approved by the department pursuant to 1 15 section 15.104. 1 16 b. Constructing facilities for the purification of animal 1 17 life science products. 1 18 c. Constructing commercial animal biodefense 1 19 pharmaceutical production facilities in this state. 1 20 2. The fund shall consist of moneys appropriated by the 1 21 general assembly for deposit in the fund, and other moneys 1 22 available to and obtained or accepted by the department for 1 23 deposit in the fund. Moneys in the fund are appropriated to 1 24 the department to be used for the purposes provided in this 1 25 section. 1 26 3. Applications for financial assistance for projects 1 27 described in subsection 1, paragraph "a", shall be filed with 1 28 the department not later than May 30, 2003, and shall be acted 1 29 upon by the department not later than June 30, 2003. 1 30 Administrative rules relating to the time frame for the 1 31 approval or disapproval of life science enterprise plans shall 1 32 not apply to the time frame for the application process under 1 33 this subsection. 1 34 4. A financial assistance award approved under this 1 35 section may involve the disbursement of moneys from the fund 2 1 over a period of more than one year. At least one-half of 2 2 each financial assistance award approved under this section 2 3 shall be in the form of a loan. 2 4 5. Notwithstanding section 8.33, all moneys in the animal 2 5 biotechnology commercialization fund which remain unexpended 2 6 or unobligated at the close of the fiscal year shall not 2 7 revert, but shall remain available for expenditure for 2 8 subsequent fiscal years. Notwithstanding section 12C.7, 2 9 interest or earnings on moneys in the fund shall be credited 2 10 to the fund. 2 11 Sec. 3. ANIMAL BIOTECHNOLOGY COMMERCIALIZATION FUND 2 12 APPROPRIATION. There is appropriated from the tax-exempt bond 2 13 proceeds restricted capital funds account of the tobacco 2 14 settlement trust fund established in section 12E.12 to the 2 15 department of economic development for the fiscal period 2 16 beginning July 1, 2002, and ending June 30, 2005, the 2 17 following amounts, or so much thereof as is necessary, to be 2 18 used for the purpose designated: 2 19 For deposit in the animal biotechnology commercialization 2 20 fund created in section 15E.221: 2 21 FY 2002-2003...................................... $ 15,000,000 2 22 FY 2003-2004...................................... $ 13,000,000 2 23 FY 2004-2005...................................... $ 2,000,000 2 24 Sec. 4. STATE BOARD OF REGENTS APPROPRIATION. There is 2 25 appropriated from the tax-exempt bond proceeds restricted 2 26 capital funds account of the tobacco settlement trust fund 2 27 established in section 12E.12 to the state board of regents 2 28 for the fiscal year beginning July 1, 2003, and ending June 2 29 30, 2004, the following amount, or so much thereof as is 2 30 necessary, to be used for the purpose designated: 2 31 For the construction of an animal biotechnology commercial 2 32 pharmaceutical research center to be built in cooperation with 2 33 the establishment by private and local sources of an animal 2 34 biotechnology business development center: 2 35 .................................................. $ 3,000,000 3 1 Sec. 5. EFFECTIVE DATE. This Act, being deemed of 3 2 immediate importance, takes effect upon enactment. 3 3 EXPLANATION 3 4 This bill relates to animal biotechnology by creating an 3 5 animal biotechnology commercialization fund, extending the 3 6 time period during which a life science enterprise may 3 7 purchase agricultural land, and making appropriations. 3 8 The bill extends the time period during which a life 3 9 science enterprise may purchase agricultural land from June 3 10 30, 2004, to June 30, 2008. 3 11 The bill creates an animal biotechnology commercialization 3 12 fund in the state treasury under the control of the department 3 13 of economic development. The bill provides that moneys in the 3 14 fund shall be used to provide financial assistance in the form 3 15 of grants and loans for constructing infrastructure and 3 16 developing proprietary biotechnology interests in order to 3 17 implement life science enterprise plans approved by the 3 18 department, constructing facilities for the purification of 3 19 animal life science products, and constructing commercial 3 20 animal biodefense pharmaceutical production facilities in 3 21 Iowa. The bill provides that applications for financial 3 22 assistance for infrastructure projects for life science 3 23 enterprise plans shall be filed with the department not later 3 24 than May 30, 2003, and shall be acted upon by the department 3 25 not later than June 30, 2003. The bill provides that a 3 26 financial assistance package may involve the disbursement of 3 27 moneys from the fund over a period of more than one year and 3 28 at least one-half of each financial assistance package shall 3 29 be a loan. 3 30 The bill appropriates moneys from the tax-exempt bond 3 31 proceeds restricted capital funds account of the tobacco 3 32 settlement trust fund to the department of economic 3 33 development for deposit in the animal biotechnology 3 34 commercialization fund. The bill appropriates $15 million in 3 35 FY 2002-2003, $13 million in FY 2003-2004, and $2,000,000 in 4 1 FY 2004-2005. 4 2 The bill appropriates $3 million from the tax-exempt bond 4 3 proceeds restricted capital funds account of the tobacco 4 4 settlement trust fund to the state board of regents for the 4 5 fiscal year beginning July 1, 2003, and ending June 30, 2004, 4 6 for the construction of an animal biotechnology commercial 4 7 pharmaceutical research center to be built in cooperation with 4 8 the establishment by private and local sources of an animal 4 9 biotechnology business development center. 4 10 The bill takes effect upon enactment. 4 11 LSB 2585YC 80 4 12 tm/cf/24
Text: HSB00179 Text: HSB00181 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Feb 25 02:30:21 CST 2003
URL: /DOCS/GA/80GA/Legislation/HSB/00100/HSB00180/030224.html
jhf