Bill Text: MO HB867 | 2011 | Regular Session | Introduced
Bill Title: Establishes the Missouri Biosciences Eminent Scholars Program
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-04-19 - Public Hearing Scheduled, Bill not Heard (H) [HB867 Detail]
Download: Missouri-2011-HB867-Introduced.html
FIRST REGULAR SESSION
96TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES BARNES (Sponsor) AND WEBBER (Co-sponsor).
1536L.01I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 172, RSMo, by adding thereto one new section relating to the Missouri biosciences eminent scholars program.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 172, RSMo, is amended by adding thereto one new section, to be known as section 172.955, to read as follows:
172.955. 1. There is hereby established the "Missouri Biosciences Eminent Scholars Program" at the University of Missouri. The program is established for the purpose of providing grants to raise funds to be used by the University of Missouri system and foundations established to further the work of each individual campus in the system in endowing chairs to attract eminent scholars with expertise in the field of bioscience to join the faculties of each campus of the University of Missouri.
2. Each campus receiving an award under the Missouri biosciences eminent scholars program shall deposit the amount it receives into a new or existing endowment fund. The individual campus shall maintain the amount received and use income generated from that amount, and other institutional, public, or nonpublic resources, to finance the program. Awards received under the program shall not be used in any manner so as to conflict with the provisions of section 196.1127.
3. The president of the board of curators shall make awards under the Missouri biosciences eminent scholars program such that the aggregate, statewide amount of other institutional, public, and private money pledged to the program in each fiscal year equals at least one hundred percent of the aggregate amount of money awarded under the program that year. The president shall distribute awards in such a way that all regions of the state benefit from the economic development impact of the program.
4. There is hereby created in the state treasury the "Missouri Biosciences Eminent Scholars Endowment Trust Fund" which shall consist of money appropriated by the general assembly, as a separate line item appropriation, out of the state treasury from general revenue. The University of Missouri board of curators shall serve as trustees of such fund. The fund shall be a dedicated fund and, upon appropriation, money in the fund shall be used solely for the administration of this section. Notwithstanding the provisions of section 33.080 to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.
5. Beginning with fiscal year 2013-2014, the general assembly may appropriate moneys not to exceed five hundred thousand dollars for the establishment and initial funding of the Missouri biosciences eminent scholars endowment trust fund.
6. The trustees of the Missouri biosciences eminent scholars fund are authorized to make challenge grants to foundations established to further the work of the University of Missouri system. The trustees of the Missouri biosciences eminent scholars endowment trust fund shall adopt rules, regulations, and standards relating to the award of challenge grants under this section. Such rules, regulations, and standards shall include formulas for the awarding of such grants, provided that such formulas shall require foundations to contribute as much as possible but not less than fifty percent and not more than seventy-five percent of the total amount deemed necessary by the trustees to endow a chair. Such formulas may be revised at any time by the board of trustees so as to maximize the benefits which may result from endowing one or more chairs in any fiscal year and depending on the total funds available to the Missouri biosciences eminent scholars endowment trust fund. No funds shall be granted to a foundation under this section except upon the express written condition that such fund and the earnings thereon be used by the foundation for the purpose of endowing a chair at a campus of the University of Missouri. Such chairs shall be created by the board of curators after considering the existing programs of the system, the necessity for such a chair, and any duplication which the creation of the chair might cause. Persons selected to hold such chairs shall be selected under such procedure as may be established by the chancellor of the University of Missouri campus at which the chair is established.
7. Appropriations made under the provisions of this section shall not be considered as a part of the regular appropriations for the University of Missouri nor shall such appropriations result in any reduction of appropriations for the University of Missouri.
8. Under section 23.253 of the Missouri sunset act:
(1) The provisions of the new program authorized under this section shall automatically sunset six years after the effective date of this section unless reauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized under this section shall automatically sunset twelve years after the effective date of the reauthorization of this section; and
(3) This section shall terminate on September first of the calendar year immediately following the calendar year in which the program authorized under this section is sunset. •
