2016 Session

Budget Amendments - HB30 (Committee Approved)

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Higher Education Research (HB 1343) (language only)

Item 255 #1h

Item 255 #1h

Higher Education Research Initiative


Page 202, strike lines 17 through 54 and insert:

"A.  1. Out of this appropriation, $20,000,000 the first year and $20,000,000 the second year from the general fund is designated for the Virginia Research, Development and Commercialization Fund.  These funds shall be allocated in accordance with provisions established in House Bill 1343 and used to promote research and development excellence in the Commonwealth, to foster innovative and collaborative research, development, commercialization projects and programs with a high potential for economic development and job creation opportunities, to attract and acquire eminent researchers that enhance research superiority at public institutions of higher education, and to position the Commonwealth as a national leader in science-based and technology-based research, development, and commercialization.

2. In addition to the funding in this item, $20,000,000 the first year authorized in Item C-52.10 shall be made available to support research lab renovations and/or the acquisition of research equipment subject to the provisions established in House Bill 1343.

B. All proposals must include matching funds from non-state funded sources that meet a minimum 1:1 ratio but priority shall be given to those applications that also propose projects that (i) are collaborative between institutions of higher education; institutions of higher education and private and nonprofit entities, public or private agencies; (ii) project a short time to commercialization, although transformative projects with a longer projected time to commercialization shall not be discounted; (iii) working in collaboration with initiatives currently underway after receiving approval from the Virginia Growth and Opportunity Fund, or those proposals to be considered by the Virginia Growth and Opportunity for review.

C. Funds may be utilized for recruiting eminent researchers to acquire and enhance research superiority at public qualifying institutions. In order to qualify for an award, the applicant shall demonstrate that the researcher being recruited would create research superiority at the institution; demonstrate that the institution making the application has sufficient technology transfer processes and other research capabilities in place to meet the needs of the researcher being recruited; involve a private sector partner with business operations in the Commonwealth; demonstrate that the research conducted by the researcher is in a qualifying technology; and match the award, on at least a one-to-one basis, with 50 percent of the match from the applicant and 50 percent of the match from the private sector partner.

D. 1. SCHEV shall develop procedures, criteria and guidelines for the management of the application and review processes of this Fund, subject to the approval of the Virginia Growth and Opportunity Board, as well as assist the Board with administration of the Fund.

2. Accordingly, SCHEV shall develop a schedule of solicitation for applications, preview applications and establish a review process that includes a recommendation of prioritization of proposals and initiatives that reflect the areas identified in the Commonwealth Research and Technology Strategic Roadmap and consider the contemporary research and economic needs of the Commonwealth of Virginia.

3. SCHEV shall seek input on each pre-approved proposal from specialty review panels that may include, but not be limited to the following: VBHRC, CIT, R&T Advisory Council, Virginia Academy of Science, Engineering and Medicine. Each review panel shall include a representative of the appropriate private sector industry, or a representative from an active commercialization or venture capital firm to assist in assessing the commercial viability of proposals.

E.  The appropriation for this item is contingent on the passage of House Bill 834 and House Bill 1343 of the 2016 Session.  If either bill should fail, the amounts appropriated in this item shall be transferred to Item 475 as part of the Revenue Reserve."

Page 203, strike lines 1 through 14.


(This amendment provides funding for the Virginia Research, Development and Commercialization Fund established under House Bill 1343.)