SENATE BILL 150

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

John M. Sapien

AN ACT

RELATING TO UNIVERSITY RESEARCH PARKS; REQUIRING STATE EDUCATIONAL INSTITUTIONS THAT FORM RESEARCH PARKS TO DISTRIBUTE ROYALTIES FROM TECHNOLOGICAL INNOVATIONS CREATED BY NEW MEXICO RESEARCH PARKS TO THE PUBLIC PRE-KINDERGARTEN FUND AND THE CHILDREN, YOUTH AND FAMILIES PRE-KINDERGARTEN FUND; MAKING AN APPROPRIATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. A new section of the University Research Park and Economic Development Act is enacted to read:

     "[NEW MATERIAL] DISTRIBUTION TO THE PUBLIC PRE-KINDERGARTEN FUND AND CHILDREN, YOUTH AND FAMILIES PRE-KINDERGARTEN FUND.--A university that forms a research park corporation shall, on an annual basis, distribute four percent of royalties from technological innovations to the public pre-kindergarten fund and four percent of royalties from technological innovations to the children, youth and families pre-kindergarten fund. For purposes of this section, "royalties" means all income received by universities or those universities' research park corporations for a license of technological innovations, but does not include payments for research, development or reimbursement of patent costs."

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