Bill Text: TX HB2051 | 2013-2014 | 83rd Legislature | Enrolled
Bill Title: Relating to the authority of public institutions of higher education to make certain investments to support technology commercialization.
Spectrum: Slight Partisan Bill (Republican 6-2)
Status: (Passed) 2013-06-14 - Effective immediately [HB2051 Detail]
Download: Texas-2013-HB2051-Enrolled.html
H.B. No. 2051 |
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relating to the authority of public institutions of higher | ||
education to make certain investments to support technology | ||
commercialization. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 153.006(a), Education Code, is amended | ||
to read as follows: | ||
(a) In order to carry out the purposes of this chapter and to | ||
support the activities of centers described in this chapter, to the | ||
extent authorized by its governing board, an institution of higher | ||
education may: | ||
(1) enter into agreements establishing royalties, | ||
fees, and other consideration for technology developed in whole or | ||
part by the institution [ |
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(2) accept equity interests in, convertible | ||
promissory debt instruments issued by, or a combination of equity | ||
interests in and convertible promissory debt instruments issued by | ||
organizations that license, manage, or otherwise administer rights | ||
to technology belonging to the institution [ |
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control in exchange for such rights, in whole or in part; | ||
(3) accept equity interests in, convertible | ||
promissory debt instruments issued by, or a combination of equity | ||
interests in and convertible promissory debt instruments issued by | ||
organizations that license or otherwise have rights in the | ||
institution's [ |
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monetary, business, scientific, or engineering services or | ||
technical assistance; | ||
(4) use income from the commercialization of | ||
technology to fund the activities of the center; | ||
(5) solicit, accept, and administer gifts, grants, and | ||
donations; | ||
(6) enter into contracts for legal services with a | ||
competent lawyer or law firm to: | ||
(A) prepare, file, pursue, and maintain patent | ||
applications in the United States or foreign jurisdictions; | ||
(B) secure copyright protection for computer | ||
software; | ||
(C) prepare, file, and pursue trademark and | ||
service mark applications; | ||
(D) pursue litigation to prevent or stop | ||
infringement of any intellectual property rights of the | ||
institution; or | ||
(E) handle any other legal matter related to the | ||
operation and activities of the center; and | ||
(7) enter into such other business arrangements as may | ||
be appropriate for achieving the purposes of this chapter. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2013. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 2051 was passed by the House on April | ||
24, 2013, by the following vote: Yeas 144, Nays 0, 1 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 2051 was passed by the Senate on May | ||
15, 2013, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |