Amendment vs bill Amendment 256 vs Reprint 1

Struck = removed from the bill · added = the amendment's new text.

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EXEMPT (Reprinted with amendments adopted on April 19, 2021) FIRST REPRINT A.B.
Session (81st) A AB29 256 Amendment No.
29 A SSEMBLY B ILLN O.
256 Assembly Amendment to Assembly Bill No.
29–COMMITTEE ON R EVENUE (ON B EHALF OF THE O FFICE OF ECONOMIC D EVELOPMENT IN THE OFFICE OF THE G OVERNOR ) PREFILED N OVEMBER 18, 2020 ____________ Referred to Committee on Revenue SUMMARY—Revises provisions governing programs for the development and commercialization of research and technology in this State.
29 (BDR 18-256) Proposed by:
Assembly Committee on Revenue Amends:
Summary:
No Title:
Yes Preamble:
No Joint Sponsorship:
No Digest:
Yes ASSEMBLY ACTION Initial and Da|e SENATE ACTION Initial and Date Adopted Lost | Adopted Lost Concurred In Not | Concurred In Not Receded Not | Receded Not EXPLANATION:
Matter in (1) blue bold italics is new language in the original bill;
(2) variations of green bold underlining is language proposed to be added in this amendment;
(3) red strikethrough is deleted language in the original bill;
(4) purple double strikethrough is language proposed to be deleted in this amendment;
(5) orange double underlining is deleted language in the original bill proposed to be retained in this amendment.
JFD/BJF - Date:
4/17/2021 A.B.
No.
29—Revises provisions governing programs for the development and commercialization of research and technology in this State.
(BDR 18-256) Page 1 of 9 *A_AB29_256* Assembly Amendment No.
256 to Assembly Bill No.
29 Page 3 A SSEMBLY B ILLN O.
29–COMMITTEE ON REVENUE (O NB EHALF OF THEO FFICE OFECONOMIC D EVELOPMENT IN THEOFFICE OF THEG OVERNOR ) PREFILED N OVEMBER 18,2020 _______________ Referred to Committee on Revenue SUMMARY—Revises provisions governing programs for the development and commercialization of research and technology in this State.
requiring the Executive Director of the Office of Economic Development to establish a competitive grant program to provide grants for certain purposes related to the research and development of technology in this State;
requiring the Executive Director of the Office of Economic Development to establish a competitive grant program to [facilitate] provide grants for certain purposes related to the research and development of technology [and address market gaps in the development of technology] in this State;
Existing law establishes the Knowledge Account, containing money which may be used to fund a program for the development and commercialization of research and technology at the University of Nevada, Las Vegas, the University of Nevada, Reno, and the Desert Research Institute.
Existing law establishes the Knowledge Account, containing money which may be used to fund a program for the development and commercialization of research and technology at the University of Nevada, Las Vegas, the University of Nevada, Reno, and the Desert Knowledge Account as the Nevada Innovation Account.s 1-7 of this bill redesignate the Existing law authorizes the Executive Director of the Office of Economic Development to allocate money in the Knowledge Account among certain entities to support commercialization and technology transfer to the private sector.
(NRS 231.1591-231.1597) Sections 1-7 of thiExisting law authorizes the Executive Director of the Office of Economict.
(NRS 231.1592) Section 2 of this bill instead authorizes the Executive Director to establish one or more competitive grant programs to address market gaps in the development of technology in this State , to facilitate the operation of the technology outreach program established by the Executive Director or to facilitate the research and development of promising technologies that have reached a technology readiness level of at least 3, which, under section 1 of this bill, would be determined using the method of assessing the maturity level of technology used by the Federal Government.
Development to allocate money in the Knowledge Account among certain entities to support commercialization and technology transfer to the private sector.
Section 2 also requires that not less than 80 percent of the grant money awarded pursuant to such competitive grant programs be awarded to the University of Assembly Amendment No.
(NRS 231.1592) Section 2 of this bill instead authorizes the Executive Director to establish one or more competitive grant programs to address market gaps in the development of technology in this State, to facilitate the operation of the - *AB29_R1* – 2 – technology outreach program established by the Executive Director or to facilitate the research and development of promising technologies that have reached a technology readiness level of at least 3, which, under section 1 of this bill, would be determined using the method of assessing the maturity level of technology used by the Federal Government.
256 to Assembly Bill No.
Section 2 also requires that not less than 80 percent of the grant money awarded pursuant to such competitive grant programs be awarded to the University of Nevada, Las Vegas, the University of Nevada, Reno, the Desert Nevada, Las Vegas, the University of Nevada, Reno or the Desert Researchersity of Institute.
29 Page 4 Nevada, Las Vegas, the University of Nevada, Reno, the Desert Research Institute or University of Nevada, Reno or the Desert Research Institute.Nevada, Las Vegas, the Existing law requires commercialization revenue received by the Office pursuant to an agreement with a research university or the Desert Research Institute to be deposited in the Knowledge Account.
Existing law requires commercialization revenue received by the Office pursuant to an agreement with a research university or the Desert Research Institute to be deposited in the Knowledge Account.
(NRS 231.1593) Section 3 of this bill includes certain types of revenue as commercialization revenue and requires any stock or equity received pursuant to such an agreement to be transferred to a nonprofit corporation formed under existing law to promote, aid and encourage economic development and to be held for the benefit of the Nevada Innovation Account.
(NRS 231.1593) Section 3 of this bill includes certain types of revenue as commercialization revenue and requires any stock or equity received pursuant to such an agreement to be transferred to a nonprofit corporation formed under existing law to promote, aid and encourage Account.
Existing law requires the Executive Director, in making allocations from the Knowledge Account, to consider certain factors, including whether each of the entities to whom an Section 4 of this bill removes the requirement for the Executive Director to consider this factor.
development and to be held for the benefit of the Nevada Innovation Existing law requires the Executive Director, in making allocations from the Knowledge Account, to consider certain factors, including whether each of the entities to whom an allocation can be made has received an equitable share of such allocations.
Section 4 also establishes the procedures for a research university, the Desert Research Institute, the technology outreach program established by existing law, private entities or a partnership between a private entity and a research university or the Desert Research Institute to apply for a grant pursuant to the competitive grant program established pursuant to section 2.
(NRS 231.1594) Section 4 of this bill removes the requirement for the Executive Director to consider this factor.
Section 4 also establishes the procedures for a research university, the Desert Research Institute, the technology outreach private entity and a research university or the Desert Research Institute to apply for a grant pursuant to the competitive grant program established pursuant to section 2.
(NRS 231.1595) Section 5 of this bill adds to this list of actions a requirement to facilitate research and development of technologies that have reached a certain technology readiness level at the research universities and the Desert Research Institute and to offer grants through a comExisting law requires the Executive Director to use money in the Knowledge Account to establish a technology outreach program and to ensure that the program provides certain services.
(NRS 231.1595) Section 5 of this bill adds to this list of actions a requirement to readiness level at the research universities and the Desert Research Institute and to offer grants through a competitive grant program established pursuant to section 2.
Existing law requires the Executive Director to use money in the Knowledge Account to establish a technology outreach program and to ensure that the program provides certain services.
- *AB29_R1* – 3 – (a) Means a privately-owned corporation, limited-liability company, partnership or other business entity or association, including, without limitation, a nonprofit corporation.
(a) Means a privately-owned corporation, limited-liabilitycompany, partnership or other business entity or association, including, without limitation, a nonprofit corporation.
(a) Money in the [Knowledge] Nevada Innovation Account, after deducting any applicable charges;
Assembly Amendment No.
256 to Assembly Bill No.
29 Page 5 (a) Money in the [Knowledge] Nevada Innovation Account, after deducting any applicable charges;
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- *AB29_R1* – 4 – (I) Address market gaps in the development of technology in this State;
(I) Address market gaps in the development of technology in this State;
(II) Facilitate the operation of the technology outreach program established pursuant to NRS 231.1596;
[or] (II) Facilitate the operation of the technology outreach program established pursuant to NRS 231.1596;
Any commercialization revenue received by the Office pursuant to such an agreement must be deposited in the [Knowledge] Nevada Innovation Account created by NRS 231.1592 [.] , except that any commercialization revenue received in the form of stock or other type of equity interest in an entity must be transferred to a nonprofit corporation formed pursuant to NRS 231.0545 and held by the nonprofit corporation for the benefit of the Nevada Innovation Account.
Any commercialization revenue received by the Office Assembly Amendment No.
256 to Assembly Bill No.
29 Page 6 pursuant to such an agreement must be deposited in the [Knowledge] Nevada Innovation Account created by NRS 231.1592 [.] , except that any commercialization revenue received in the form of stock or other type of equity interest in an entity must be transferred to a nonprofit corporation formed pursuant to NRS 231.0545 and held by the nonprofit corporation for the benefit of the Nevada Innovation Account.
In consideration of the money and services provided or agreed to be provided by the Office, the research universities and - *AB29_R1* – 5 – the Desert Research Institute shall agree to allocate commercialization revenue in accordance with any agreement entered into pursuant to subsection 1.
In consideration of the money and services provided or agreed to be provided by the Office, the research universities and the Desert Research Institute shall agree to allocate commercialization revenue in accordance with any agreement entered into pursuant to subsection 1.
and - *AB29_R1* – 6 – (b) Whether the research universities and the Desert Research Institute have received an equitable share of the allocations of money from the Knowledge Account.] 3.
and (b) Whether the research universities and the Desert Research Institute have received an equitable share of the allocations of money from the Knowledge Account.] 3.
In accordance with the procedures established pursuant to subsection 1, a research university , [or] the Desert Research Institute , the technology outreach program established pursuant to NRS 231.1596 or a partnership between a private entity and a research university or the Desert Research Institute may apply for [an allocation] a grant of money from the [Knowledge] Nevada Innovation Account.
In accordance with the procedures established pursuant to subsection 1, a research university , [or] the Desert Research Institute , the technology outreach program established pursuant to NRS 231.1596 [, a private entity,] or a partnership between a private entity and a research university or the Desert Assembly Amendment No.
256 to Assembly Bill No.
29 Page 7 Research Institute may apply for [an allocation] a grant of money from the [Knowledge] Nevada Innovation Account.
If a research university , [or] the Desert Research Institute , the technology outreach program established pursuant to NRS 231.1596 or a partnership between a private entity and a research university or the Desert Research Institute receives [an allocation] a grant of money from the [Knowledge] Nevada Innovation Account, the money must be used [for the purposes set forth in NRS 231.1597.] in accordance with the agreement entered into by the Office and the recipient pursuant to subsection 5 of NRS 231.1592.
If a research university , [or] the Desert Research Institute , the technology outreach program established pursuant to NRS 231.1596 [, a private entity,] or a partnership between a private entity and a research university or the Desert Research Institute receives [an allocation] a grant of money from the [Knowledge] Nevada Innovation Account, the money must be used [for the purposes set forth in NRS 231.1597.] in accordance with the agreement entered into by the Office and the recipient pursuant to subsection 5 of NRS 231.1592.
- *AB29_R1* – 7 – (c) Enhance technology transfer and commercialization of research and technologies developed at the research universities and the Desert Research Institute to create high-quality jobs and new industries in this State [.] or to address market gaps in technology development in this State.
(c) Enhance technology transfer and commercialization of research and technologies developed at the research universities and the Desert Research Institute to create high-quality jobs and new industries in this State [.] or to address market gaps in technology development in this State.
[(h)] (i) Establish requirements for periodic reports from the research universities and the Desert Research Institute concerning the use of allocations from the [Knowledge] Nevada Innovation Account pursuant to NRS 231.1597.
[(h)] (i) Establish requirements for periodic reports from the research universities and the Desert Research Institute concerning the use of allocations Assembly Amendment No.
256 to Assembly Bill No.
29 Page 8 from the [Knowledge] Nevada Innovation Account pursuant to NRS 231.1597.
- *AB29_R1* – 8 – (2) A description of the research being conducted by the research teams and faculty for which the Executive Director has provided funding pursuant to NRS 231.1597;
(2) A description of the research being conducted by the research teams and faculty for which the Executive Director has provided funding pursuant to NRS 231.1597;
(f) Establish a small business research and innovation and small business technology transfer matching program which may - *AB29_R1* – 9 – cooperate with a nonprofit corporation formed pursuant to NRS 231.0545;
Assembly Amendment No.
256 to Assembly Bill No.
29 Page 9 (f) Establish a small business research and innovation and small business technology transfer matching program which may cooperate with a nonprofit corporation formed pursuant to NRS 231.0545;
H - *AB29_R1*