Kansas Statutes 74-99b68. Bioscience research and development voucher – federal fund; established; disbursement
(a) There is hereby established in the state treasury the bioscience research and development voucher – federal fund for the purpose of providing matching federal moneys to enable qualified companies to undertake authority approved bioscience research and development projects in partnership with bioscience research institutions.
(b) The bioscience research and development voucher – federal fund shall receive all federal moneys obtained from federal sources for bioscience research and development.
Terms Used In Kansas Statutes 74-99b68
- Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(c) Federal moneys deposited in the bioscience research and development voucher – federal fund shall be disbursed by the state treasurer with the consent of the chairperson of the authority.
(d) On or before the 10th day of each month, the director of accounts and reports shall transfer from the state general fund to the bioscience research and development voucher – federal fund interest earnings based on:
(1) The average daily balance of moneys in the bioscience research and development voucher – federal fund for the preceding month; and
(2) the net earnings rate of the pooled money investment portfolio for the preceding month.