348.264. Technology investment fund established--source of funds--purpose. - Missouri Statutes

Technology investment fund established--source of funds--purpose.

348.264. 1. There is hereby established in the state treasury aspecial fund to be known as the "Missouri Technology Investment Fund",which shall consist of all moneys which may be appropriated to it by thegeneral assembly, and also any gifts, contributions, grants or bequestsreceived from federal, private or other sources. Such moneys shall includefederal funds which may be received from the National Institute for Scienceand Technology, the Small Business Administration and the Department ofDefense through its Technology Reinvestment Program. Money in the Missouritechnology investment program shall be used to carry out the provisions ofsections 348.251 to 348.275. Moneys for business modernization programs,technology application programs, technology commercialization programs andtechnology development programs established pursuant to the provisions ofsections 348.251 to 348.275 shall be available from appropriations made bythe general assembly from the Missouri technology investment fund. Anymoneys remaining in the Missouri technology investment fund at the end ofany fiscal year shall not lapse to the general revenue fund, as provided insection 33.080, RSMo, but shall remain in the Missouri technologyinvestment fund.

2. Notwithstanding the provisions of sections 173.500 to 173.565,RSMo, the Missouri technology investment fund shall be utilized to fundprojects which would previously have been funded through the highereducation applied projects fund.

(L. 1994 H.B. 1248 & 1048, A.L. 1995 H.B. 414)