(a) The coordinating board shall administer the technology program and the research program.
(b) The coordinating board shall appoint an advisory committee that consists of experts in the specified research areas of both programs to advise the coordinating board regarding the coordinating board’s development of research priorities, guidelines, and procedures for the selection of specific projects at eligible institutions.
(c) The guidelines and procedures developed for the research program by the coordinating board must:
(1) provide for awards on a competitive, peer review basis for specific projects at eligible institutions; and
(2) require that, as a condition of receiving an award, an eligible institution must use a portion of the award to support, in connection with the project for which the award is made, basic research conducted by:
(A) graduate or undergraduate students, if the eligible institution is a medical and dental unit; or
(B) undergraduate students, if the eligible institution is any other eligible institution.
(d) The guidelines and procedures developed for the technology program by the coordinating board must:
(1) provide for determining whether an institution of higher education or private or independent institution of higher education qualifies as an eligible institution for the purposes of the technology program by demonstrating exceptional capability to attract federal, state, and private funding for scientific and technical research and having an exceptionally strong research staff and the necessary equipment and facilities; and
(2) provide for awards on a competitive, peer review basis for specific projects at eligible institutions.
(e) The coordinating board shall encourage projects under the technology program that leverage funds from other sources and projects that propose innovative, collaborative efforts:
(1) across academic disciplines;
(2) among two or more eligible institutions; or
(3) between an eligible institution or institutions and private industry.