173.392. Lewis and Clark discovery fund created, use of moneys--annual appropriations, purposes. - Missouri Statutes

Lewis and Clark discovery fund created, use of moneys--annualappropriations, purposes.

173.392. 1. There is hereby created in the state treasury a fund tobe known as the "Lewis and Clark Discovery Fund". The state treasurershall deposit to the credit of the fund all moneys which may be distributedto it by the authority, appropriated to it by the general assembly, and anygifts, contributions, grants, or bequests received from federal, private,or other sources for deposit into the fund. The office of administrationshall administer the fund. The moneys in the fund shall only be used forany purpose enumerated in subsection 2 of this section. The moneys in thefund may be appropriated by the general assembly, but only for any purposeenumerated in subsection 2 of this section. None of the moneys in the fundshall be considered state funds unless and to the extent such moneys areappropriated by the general assembly.

2. The general assembly may annually appropriate moneys from theLewis and Clark discovery fund only for the following purposes:

(1) To support funding of capital projects at public colleges anduniversities, provided that moneys shall not be appropriated to any publiccollege or university that knowingly employs, as of September 1, 2007, anyperson, as a professor or instructor, required to be registered undersections 589.400 to 589.425, RSMo; and

(2) To support funding for the Missouri technology corporation'sability to work with colleges and universities in identifying opportunitiesfor commercializing technologies, transferring technologies, and todevelop, recruit, and retain entities engaged in innovative technologies.

3. Moneys in the fund shall be invested by the state treasurer in themanner prescribed by law for investment of general revenue funds and anyinterest earned on invested moneys shall accrue to the benefit of the Lewisand Clark discovery fund and shall reduce payments by the authoritypursuant to subsection 2 of section 173.385. Notwithstanding theprovisions of section 33.080, RSMo, to the contrary, moneys in the MissouriLewis and Clark discovery fund shall not revert to the credit of thegeneral revenue fund at the end of the biennium.

(L. 2007 S.B. 389)