Citations Affected: IC 4-4-5.2.
Synopsis: Funding to commercialize emerging technology. Creates the
emerging technology grant fund to be administered by the twenty-first
century research and technology fund board.
Effective: July 1, 2004.
November 21, 2003, read first time and referred to Committee on Economic Development
and Technology.
A BILL FOR AN ACT to amend the Indiana Code concerning state
and local administration and to make an appropriation.
SECTION 1. IC 4-4-5.2 IS ADDED TO THE INDIANA CODE AS
A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2004]:
Chapter 5.2. Emerging Technology Grant Fund
Sec. 1. As used in this chapter, "board" refers to the Indiana
twenty-first century research and technology fund board
established by IC 4-4-5.1-6.
Sec. 2. As used in this chapter, "fund" refers to the emerging
technology grant fund established by section 5 of this chapter.
Sec. 3. As used in this chapter, "small business" means a
business that satisfies all the following:
(1) The business is independently owned and operated.
(2) The principal office of the business is located in Indiana.
(3) The business satisfies either of the following:
(A) The business has not more than:
(i) one hundred (100) employees; and
(ii) average annual gross receipts of ten million dollars
($10,000,000).
(B) If the business is a manufacturing business, the
business does not have more than one hundred (100)
employees.
Sec. 4. As used in this chapter, "small sized technology based
business" means a small business engaged in any of the following:
(1) Life sciences.
(2) Information technology.
(3) Advanced manufacturing.
(4) Logistics.
Sec. 5. (a) The emerging technology grant fund is established to
provide grants to match federal grants for small sized technology
based businesses to be used to accelerate commercialization of
emerging technologies.
(b) The fund consists of appropriations from the general
assembly and gifts and grants to the fund.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public funds may be invested.
(d) The money in the fund at the end of a state fiscal year does
not revert to the state general fund but remains in the fund to be
used exclusively for purposes of this chapter.
(e) Money in the fund is continuously appropriated for the
purposes of this chapter.
Sec. 6. The purpose of the grant program is to do the following:
(1) Assist Indiana businesses to compete nationally for federal
research and development awards.
(2) Provide matching grants that focus on small sized
technology based businesses in industry sectors vital to
Indiana's economic growth.
Sec. 7. (a) The board shall administer the grant program under
this chapter.
(b) The board shall award grants to support projects that
leverage private sector, federal, and state resources to create new
globally competitive commercial products or services that will
enhance economic growth and job creation in Indiana.
(c) The board may award grants only to businesses that receive
federal grant awards.
(d) In awarding grants, the board shall give preference to
proposals from businesses that include other Indiana based
organizations. However, the amount of the grant may be measured
only against the federal money allocated to the small sized
technology based business partner.
(e) The board shall consider the following when making grants
under this chapter:
(1) Whether the grant will increase the viability of the
applicant's project.
(2) Whether the grant will attract additional federal research,
development, and commercialization money.
(3) Whether the grant will assist in accelerating the
introduction of technology based products in the market.
(4) Whether the grant will produce additional technology
based jobs in Indiana.
(5) Other factors the board considers relevant.
(f) An applicant for a grant under this chapter must be in the
process of applying for, have applied for, or have received a federal
grant for the proposed project. If the applicant has already
received a federal grant for the proposed project, the start date of
the federal award must be after June 30, 2003.
(g) Any federal program may serve as the basis for a grant
under this chapter if all the following are satisfied:
(1) The applicant's federal proposal is a response to a
nationally competitive federal solicitation.
(2) The federal program provides money to develop, revise, or
commercialize a new technology.
(3) The federal program accepts matching funds.
(4) The applicant's federal proposal includes the state as a
potential funding source.
Sec. 8. Before July 1 of each year, the board shall establish and
publish guidelines determining the following:
(1) Priority industries and technological areas for grants
under this chapter.
(2) Matching levels for the different priorities established
under subdivision (1). The matching level may not be more
than one dollar ($1) for each federal dollar received by an
applicant.
(3) The maximum dollar amount that may be awarded for a
proposal. The maximum dollar amount may not exceed one
hundred fifty thousand dollars ($150,000) for each business
for each proposal.
Sec. 9. The board shall adopt guidelines and a process to
determine on a case by case basis for the award of grants under
this chapter to technology based businesses that are not small
businesses. The guidelines for awards under this section must
provide for fulfilling the purposes of this chapter.