Sec. AAAA-1. 5 MRSA §13122-L is enacted to read:
§13122-L. Maine Research and Development Evaluation Fund
1. Fund established. The Maine Research and Development Evaluation Fund, referred to in this section as the "fund," is established as a nonlapsing Other Special Revenue fund administered by the foundation for the purposes of funding the comprehensive research and development evaluation required pursuant to section 13122-J. Money deposited with the Treasurer of State to the credit of the fund may be invested as provided by law. Income from those investments must be credited to the fund.
2. Definition. For the purposes of this section, "research and development" means activities that directly or through capital investment support basic and applied scientific research and related commercial development funded by state appropriations.
3. Fund sources. The fund receives money deposited by the Treasurer of State pursuant to this section and any other gift, grant or other source of revenue deposited for that use.
4. Transfers to fund. Notwithstanding section 1585 or any other provision of law, the State Budget Officer upon the recommendation of the president is authorized to transfer General Fund appropriations for research and development efforts to the fund. The transfer and allotment of available funds may not exceed 0.8% of the total research and development appropriations. Only those programs that receive $500,000 or more in research and development appropriations, as identified and certified by the State Budget Officer and the Office of Fiscal and Program Review, may be assessed upon concurrence of the affected agencies, institutions and departments. The transfer must be implemented by financial order contingent upon the recommendation of the State Budget Officer and approval of the Governor and upon review by the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs. The financial order must include a plan outlining how these funds will be expended. The financial order takes effect upon approval by the Governor. Total transfers made pursuant to this section may not exceed $120,000 in any fiscal year.
5. Repeal; lapse of funds. This section is repealed June 30, 2006. Unexpended funds in the fund lapse to the unappropriated surplus of the General Fund.
Sec. AAAA-2. Allocation. The following funds are allocated from Other Special Revenue funds to carry out the purposes of this Part.
2001-02 2002-03
MAINE SCIENCE AND TECHNOLOGY FOUNDATION
Maine Research and Development Evaluation Fund
All Other $500 $500
Provides a base allocation to establish the Maine Research and Development Evaluation Fund.
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