C. Each biennium, submit a report to the department. The report must include:

(1) An accounting of the use of all program funds received in the previous 2 years, prepared by a certified public accountant;

(2) A summary of the status of any ongoing research;

(3) A summary of the results of any completed research; and

(4) Evaluation data and assessment; and.

(5) Information required to be submitted under a comprehensive research and development evaluation pursuant to section 13122-J.

Sec. RR-5. 5 MRSA c. 385, as amended, is repealed.

Sec. RR-6. 5 MRSA §15303, sub-§6-C is enacted to read:

6-C.__Administer funds.__The institute shall administer the Maine Technology Capacity Fund established under section 15303-A.

Sec. RR-7. 5 MRSA §15303-A is enacted to read:

§15303-A.__Maine Technology Capacity Fund

The Maine Technology Capacity Fund is established within the institute to strengthen employment opportunities in the State by increasing the science and technology investment level through partnerships among the State Government, private enterprise, the Federal Government and private and public research institutions. The fund may be used to match public and private funds that provide program or consulting resources to targeted technology sectors to increase their capacity to develop into industry clusters. The fund may also be used to support best-practice studies or to provide technical assistance on a contractual basis to enhance the capacity of the targeted technology sectors to develop into industry clusters.

1.__Definitions.__As used in this section, unless the context otherwise indicates, the following terms have the following meanings.