2004 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: May
CIT Funding

Item 462 #1h

Item 462 #1h

First Year - FY2005 Second Year - FY2006
Innovative Technology Authority FY2005 $1,815,542 FY2006 $3,724,939 GF

Page 340, line 15, strike "$5,835,414" and insert "$7,650,956".
Page 340, line 15, strike "$3,926,017" and insert "$7,650,956".
Page 341, line 33, strike "H.1." and insert "H."
Page 341, strike line 40 through line 43.

(This amendment provides an additional $1.8 million the first year and $3.7 million the second year from the general fund for baseline funding of the Center for Innovative Technology (CIT). These funds are to be used to enhance federal research and development funds, facilitate the creation of new technology companies and continue operations of CIT's regional offices. The intent is that this funding will be used to leverage external funding so that general fund contributions become an increasingly smaller percentage of CIT's total operating funds over time.)