(a) There is established the “Regenerative Medicine Research Fund”, which shall be a separate, nonlapsing account within the General Fund. The fund may contain any moneys required or permitted by law to be deposited in the fund and any funds received from any public or private contributions, gifts, grants, donations, bequests or devises to the fund. The chief executive officer of Connecticut Innovations, Incorporated, (1) shall award financial assistance from the fund in accordance with the provisions of subsection (b) of this section, and (2) may enter into agreements with other entities, including, but not limited to, the government of any state or foreign country for the purpose of advancing research collaboration opportunities for recipients of financial assistance under this section.
(b) The Regenerative Medicine Research Advisory Committee established pursuant to section 32-41ll shall develop an application for financial assistance under this section for the purpose of conducting regenerative medicine research and may receive applications from eligible institutions for such financial assistance. The Regenerative Medicine Research Advisory Committee shall require any applicant for financial assistance under this section to conduct regenerative medicine research to submit (1) a complete description of the applicant's organization, (2) the applicant's plans for regenerative medicine research and proposed funding for such research from sources other than the state, (3) proposed arrangements concerning financial benefits to the state as a result of any patent, royalty payment or similar rights developing from any proposed research made possible by the awarding of such financial assistance, and (4) a form attesting to compliance with subsections (c) and (d) of section 32-41jj if the regenerative medicine research involves the use of embryonic stem cells. The Regenerative Medicine Research Advisory Committee shall direct the chief executive officer of Connecticut Innovations, Incorporated, with respect to the awarding of such financial assistance after considering recommendations from peer reviewers pursuant to section 32-41mm.
(c) Commencing with the fiscal year ending June 30, 2006, and for each of the thirteen consecutive fiscal years thereafter, until the fiscal year ending June 30, 2019, funds shall be available from the Regenerative Medicine Research Fund for financial assistance to eligible institutions for the purpose of conducting regenerative medicine research. Any funds not used for such financial assistance during a fiscal year shall be carried forward for the fiscal year next succeeding for such financial assistance.
(P.A. 05-149, S. 2; P.A. 14-98, S. 33; P.A. 15-222, S. 2; 15-242, S. 5; June Sp. Sess. P.A. 17-2, S. 452.)
History: P.A. 05-149 effective June 15, 2005; P.A. 14-98 amended Subsec. (a) by replacing “Stem Cell Research Fund” with “Regenerative Medicine Research Fund”, changing administration of fund from Commissioner of Public Health to chief executive officer of Connecticut Innovations, Incorporated, designating existing provision re grants-in-aid as Subdiv. (1) and adding Subdiv. (2) re agreements with other entities, amended Subsec. (b) by replacing “Stem Cell Research Advisory Committee” with “Regenerative Medicine Research Advisory Committee”, amended Subsec. (c) by extending sunset date for grants-in-aid from June 30, 2015, to June 30, 2019, and made technical and conforming changes; Sec. 19a-32e transferred to Sec. 32-41kk in 2015; P.A. 15-222 replaced references to grants-in-aid with references to financial assistance and amended Subsec. (b) by replacing reference to Regenerative Medicine Research Peer Review Committee with reference to peer reviewers pursuant to Sec. 32-41mm, effective July 1, 2015; P.A. 15-242 amended Subsec. (b) by adding Subdiv. (4) re compliance form; June Sp. Sess. P.A. 17-2 amended Subsec. (c) by replacing “not less than ten million dollars” with “funds” and “balance of such amount” with “funds”, effective October 31, 2017.
Structure Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 581 - Innovation Capital Act of 1989. Connecticut Innovations, Incorporated
Section 32-32. - Short title: Innovation Capital Act of 1989.
Section 32-33. - Legislative finding.
Section 32-35. - Connecticut Innovations, Incorporated.
Section 32-36. - Perpetual succession. Termination.
Section 32-37. - Board of directors.
Section 32-38. - Chief executive officer.
Section 32-39. - Corporate purpose; powers.
Section 32-39d. - Guarantees of corporation made investment securities.
Section 32-39f. - CTNext. Purposes. Board of directors. Executive director.
Section 32-39g. - CTNext. Powers.
Section 32-39h. - CTNext. Procedures.
Section 32-39i. - CTNext Fund established. Uses.
Section 32-39j. - Definitions.
Section 32-39k. - Innovation place program. Purposes.
Section 32-39p. - Connecticut 500 Project. Goals. Solicitation of bids.
Section 32-39w. - Assistance with state strategic economic planning.
Section 32-39x. - Entrepreneurs-in-Residence program. Proof of concept fund.
Section 32-39y. - Recapitalization of innovation place program. Bond authorization.
Section 32-40. - Applications for financial aid.
Section 32-41aa. - Connecticut Bioscience Innovation Fund. Definitions.
Section 32-41b. - Bond issue for high technology products. Loan interest rates.
Section 32-41bb. - Bioscience Innovation Advisory Committee.
Section 32-41dd. - Bond authorization for Connecticut Bioscience Innovation Fund.
Section 32-41g. - Short title: Technology Deployment Act of 1993.
Section 32-41h. - Legislative finding.
Section 32-41i. - Definitions.
Section 32-41j. - Manufacturing application center program.
Section 32-41k. - Deployment research program.
Section 32-41l. - Energy and environmental technologies deployment center program.
Section 32-41m. - Connecticut educational and job training technologies deployment center programs.
Section 32-41n. - Critical technologies grant program.
Section 32-41nn. - Bond authorization for Regenerative Medicine Research Fund.
Section 32-41o. - Bond issue for technology deployment.
Section 32-41oo. - Program to incentivize formation of new venture capital funds.
Section 32-41p. - Workplace center of excellence program.
Section 32-41q. - Critical industries development account. Purpose. Regulations.
Section 32-41qq. - Plan to collect data re crumbling concrete foundations.
Section 32-41r. - Short title: Economic Recovery Act of 1996.
Section 32-41t. - High technology research and development program: Definitions.
Section 32-41u. - High technology research and development program: Establishment and purpose.
Section 32-41v. - Connecticut New Opportunities Fund.
Section 32-41w. - Early-stage venture capital program.
Section 32-41x. - Preseed financing account and program.
Section 32-41z. - Bond issue for the Connecticut Bioscience Collaboration program.
Section 32-42. - Examination. Audits.
Section 32-43. - State pledge.
Section 32-44. - Powers to be interpreted broadly.
Section 32-45. - Inconsistent provisions of law.
Section 32-46. - Tax exemption.
Section 32-47. - Personal liability of directors or persons acting on behalf of the corporation.