196.1100. Trust fund established, purpose--reversion to general revenue prohibited. - Missouri Statutes

Trust fund established, purpose--reversion to general revenueprohibited.

196.1100. 1. There is hereby established in the state treasury the"Life Sciences Research Trust Fund" to be held separate and apart from allother public moneys and funds of the state, including but not limited tothe tobacco securitization settlement trust fund established in section8.550, RSMo. The state treasurer shall deposit into the fund twenty-fivepercent of all moneys received from the master settlement agreement, asdefined in section 196.1000, beginning in fiscal year 2007 and inperpetuity thereafter. Moneys in the fund shall not be subject toappropriation for purposes other than those provided in sections 196.1100to 196.1130 without a majority vote in each house of the general assembly.All moneys in the fund shall be used for the purposes of sections 196.1100to 196.1130 only. Notwithstanding the provisions of section 33.080, RSMo,to the contrary, the moneys in the fund shall not revert to the credit ofgeneral revenue at the end of the biennium.

2. Moneys in the life sciences research trust fund shall be usedstrategically, in cooperation with other governmental and not-for-profitprivate entities, to enhance the capacity of the state of Missouri'sability to perform research to better serve the health and welfare of theresidents of the state of Missouri as a center of life sciences researchand development by building on the success of research institutions locatedin Missouri, creating in and attracting to Missouri new research anddevelopment institutions, commercializing the life sciences technologiesdeveloped by such institutions, and enhancing their capacity to carry outtheir respective missions.

(L. 2003 H.B. 688)