Text: SF00366 Text: SF00368 Text: SF00300 - SF00399 Text: SF 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 which facilities shall, in part, be 1 18 available in a commercially reasonable manner to other 1 19 companies engaging in the business of purification of animal 1 20 life science products. At least ten million dollars of the 1 21 total cost of constructing such a facility must be paid for 1 22 through the use of any combination of federal, local, and 1 23 private moneys. 1 24 c. Constructing commercial animal biodefense 1 25 pharmaceutical production and processing facilities in this 1 26 state, provided that an Iowa-based qualified life science 1 27 enterprise holds an equity interest in the facilities. Prior 1 28 to receiving financial assistance under this paragraph, the 1 29 recipient must be a party to a federal contract for the 1 30 construction of a facility described in this paragraph. 1 31 2. The fund shall consist of moneys appropriated by the 1 32 general assembly for deposit in the fund, and other moneys 1 33 available to and obtained or accepted by the department for 1 34 deposit in the fund. Moneys in the fund are appropriated to 1 35 the department to be used for the purposes provided in this 2 1 section. 2 2 3. a. Applications for financial assistance for projects 2 3 described in subsection 1, paragraphs "a" and "b", shall be 2 4 filed with the department not later than May 30, 2003, and 2 5 shall be acted upon by the department not later than June 30, 2 6 2003. Administrative rules relating to the time frame for the 2 7 approval or disapproval of life science enterprise plans shall 2 8 not apply to the time frame for the application process under 2 9 this subsection. 2 10 b. Applications for financial assistance for projects 2 11 described in subsection 1, paragraph "c", shall be filed with 2 12 the department not later than July 1, 2005, and financial 2 13 assistance provided to such projects shall be expended not 2 14 later than June 30, 2006. 2 15 4. A financial assistance award approved under this 2 16 section may involve the disbursement of moneys from the fund 2 17 over a period of more than one year. At least one-half of 2 18 each financial assistance award approved under this section 2 19 shall be in the form of a loan or equity-like investment. 2 20 5. Notwithstanding section 8.33, all moneys in the animal 2 21 biotechnology commercialization fund which remain unexpended 2 22 or unobligated at the close of the fiscal year shall not 2 23 revert, but shall remain available for expenditure for 2 24 subsequent fiscal years. Notwithstanding section 12C.7, 2 25 interest or earnings on moneys in the fund shall be credited 2 26 to the fund. 2 27 Sec. 3. ANIMAL BIOTECHNOLOGY COMMERCIALIZATION FUND 2 28 APPROPRIATION. There is appropriated from the tax-exempt bond 2 29 proceeds restricted capital funds account of the tobacco 2 30 settlement trust fund established in section 12E.12 to the 2 31 department of economic development for the fiscal period 2 32 beginning July 1, 2002, and ending June 30, 2005, the 2 33 following amounts, or so much thereof as is necessary, to be 2 34 used for the purpose designated: 2 35 1. For deposit in the animal biotechnology 3 1 commercialization fund created in section 15E.221 to be used 3 2 for purposes of projects described in section 15E.221, 3 3 subsection 1, paragraph "a": 3 4 FY 2002-2003.......................................$ 0 3 5 FY 2003-2004.......................................$ 5,000,000 3 6 FY 2004-2005.......................................$ 0 3 7 2. For deposit in the animal biotechnology 3 8 commercialization fund created in section 15E.221 to be used 3 9 for purposes of projects described in section 15E.221, 3 10 subsection 1, paragraph "b": 3 11 FY 2002-2003.......................................$ 5,000,000 3 12 FY 2003-2004.......................................$ 10,000,000 3 13 FY 2004-2005.......................................$ 0 3 14 3. For deposit in the animal biotechnology 3 15 commercialization fund created in section 15E.221 to be used 3 16 for purposes of projects described in section 15E.221, 3 17 subsection 1, paragraph "c": 3 18 FY 2002-2003.......................................$ 0 3 19 FY 2003-2004.......................................$ 0 3 20 FY 2004-2005.......................................$ 10,000,000 3 21 Any moneys remaining in the fund from the appropriations 3 22 under subsection 3 that are unexpended or unobligated on June 3 23 30, 2006, shall revert to the tax-exempt bond proceeds 3 24 restricted capital funds account of the tobacco settlement 3 25 trust fund on June 30, 2006. 3 26 Sec. 4. STATE BOARD OF REGENTS APPROPRIATION. There is 3 27 appropriated from the tax-exempt bond proceeds restricted 3 28 capital funds account of the tobacco settlement trust fund 3 29 established in section 12E.12 to the state board of regents 3 30 for the fiscal year beginning July 1, 2003, and ending June 3 31 30, 2004, the following amount, or so much thereof as is 3 32 necessary, to be used for the purpose designated: 3 33 For the construction of an animal biotechnology commercial 3 34 pharmaceutical research center to be built in cooperation with 3 35 the establishment by private and local sources of an animal 4 1 biotechnology business development center: 4 2 .................................................. $ 3,000,000 4 3 Sec. 5. EFFECTIVE DATE. This Act, being deemed of 4 4 immediate importance, takes effect upon enactment. 4 5 EXPLANATION 4 6 This bill relates to animal biotechnology by creating an 4 7 animal biotechnology commercialization fund, extending the 4 8 time period during which a life science enterprise may 4 9 purchase agricultural land, and making appropriations. 4 10 The bill extends the time period during which a life 4 11 science enterprise may purchase agricultural land from June 4 12 30, 2004, to June 30, 2008. 4 13 The bill creates an animal biotechnology commercialization 4 14 fund in the state treasury under the control of the department 4 15 of economic development. The bill provides that moneys in the 4 16 fund shall be used to provide financial assistance in the form 4 17 of grants and loans for constructing infrastructure and 4 18 developing proprietary biotechnology interests in order to 4 19 implement life science enterprise plans approved by the 4 20 department, constructing facilities for the purification of 4 21 animal life science products, and constructing commercial 4 22 animal biodefense pharmaceutical production facilities in 4 23 Iowa. The bill provides that at least $10 million of the 4 24 total costs of constructing a purification facility must be 4 25 paid for through the use of any combination of federal, local, 4 26 and private moneys. The bill provides that prior to receiving 4 27 financial assistance for an animal biodefense pharmaceutical 4 28 production facility, the recipient must be a party to a 4 29 federal contract for the construction of such a facility. 4 30 The bill provides that applications for financial 4 31 assistance for infrastructure projects for life science 4 32 enterprise plans and purification facilities shall be filed 4 33 with the department not later than May 30, 2003, and shall be 4 34 acted upon by the department not later than June 30, 2003. 4 35 The bill provides that applications for financial assistance 5 1 for a biodefense facility shall be filed not later than July 5 2 1, 2005, and financial assistance shall be expended not later 5 3 than June 30, 2006. The bill provides that a financial 5 4 assistance package may involve the disbursement of moneys from 5 5 the fund over a period of more than one year and at least one- 5 6 half of each financial assistance package shall be a loan or 5 7 equity-like investment. 5 8 The bill appropriates moneys from the tax-exempt bond 5 9 proceeds restricted capital funds account of the tobacco 5 10 settlement trust fund to the department of economic 5 11 development for deposit in the animal biotechnology 5 12 commercialization fund. The bill appropriates $5 million in 5 13 FY 2003-2004 for constructing infrastructure and developing 5 14 proprietary biotechnology interests. The bill appropriates $5 5 15 million in FY 2002-2003 and $10 million in FY 2003-2004 for 5 16 purification facilities. The bill appropriates $10 million in 5 17 FY 2004-2005 for a biodefense facility. 5 18 The bill appropriates $3 million from the tax-exempt bond 5 19 proceeds restricted capital funds account of the tobacco 5 20 settlement trust fund to the state board of regents for the 5 21 fiscal year beginning July 1, 2003, and ending June 30, 2004, 5 22 for the construction of an animal biotechnology commercial 5 23 pharmaceutical research center to be built in cooperation with 5 24 the establishment by private and local sources of an animal 5 25 biotechnology business development center. 5 26 The bill takes effect upon enactment. 5 27 LSB 2585SV 80 5 28 tm/cf/24
Text: SF00366 Text: SF00368 Text: SF00300 - SF00399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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