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conversesoilBiotechnology

Dec 3, 2012 (4 years and 8 months ago)

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[3794
-
1
]

Indicates Matter Stricken

1

Indicates New Matter

2


3

AMENDED

4

May 31, 2005

5


6


H.

3794

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8

Introduced by Reps. Harrell, Wilkins, Cotty, J.E.

Smith, Leach,
9

Clark, Skelton, Chellis, Davenport, Haley, Harvin, Anthony, Bales,
10

Ballentine, Barfield, Battle, Brady, G.

Brown
, Cato, Coates,
11

Cobb
-
Hunter, Coleman, Cooper, Delleney, Edge, Harrison, Hayes,
12

Hinson, Jennings, Kennedy, Kirsh, Limehouse, Littlejohn, Lucas,
13

Mack, McCraw, McGee, Merrill, J.M.

Neal, Neilson, Ott, Perry,
14

Rice, Simrill, G.R.

Smith, J.R.

Smith, W.D.

Smith,
Stewart,
15

Taylor, Thompson, Umphlett, Vaughn, White, Witherspoon,
16

Young, Bailey and Hagood

17


18

S. Printed 5/31/05
--
S.


19

Read the first time April 20, 2005.

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[3794]

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8

A BILL

9


10

TO AMEND CHAPTER 17, TITLE 13 OF THE 1976 CODE,
11

RELATING TO THE SOUTH CARO
LINA RESEARCH
12

AUTHORITY, SO AS TO PROVIDE FOR THE SOUTH
13

CAROLINA RESEARCH DIVISION AND THE SOUTH
14

CAROLINA RESEARCH INNOVATION CENTERS AS TWO
15

DIVISIONS OF THE AUTHORITY, TO CHANGE THE
16

COMPOSITION OF THE BOARD OF TRUSTEES OF THE
17

AUTHORITY AND TO PROVIDE ITS
DUTIES, TO PROVIDE
18

FOR A BUSINESS AND SCIENCE ADVISORY BOARD TO
19

BE APPOINTED BY THE EXECUTING COMMITTEE OF THE
20

BOARD OF TRUSTEES, TO PROVIDE DUTIES OF THE
21

ADVISORY BOARD, TO PROVIDE THAT THE SOUTH
22

CAROLINA RESEARCH DIVISION SHALL OPERATE
23

EXISTING RESEARCH
PARKS IN COOPERATION WITH
24

CLEMSON UNIVERSITY, THE MEDICAL UNIVERSITY OF
25

SOUTH CAROLINA, AND THE UNIVERSITY OF SOUTH
26

CAROLINA AT COLUMBIA, TO PROVIDE THAT THE
27

AUTHORITY MAY ESTABLISH AND OPERATE
28

ADDITIONAL FACILITIES, TO PROVIDE FOR
29

CONFIDENTIALITY OF INFOR
MATION RELATING TO A
30

PROSPECTIVE INDUSTRY CONSIDERING A RESEARCH
31

PARK, TO PROVIDE THAT THE SOUTH CAROLINA
32

RESEARCH INNOVATION CENTERS SHALL ESTABLISH
33

THREE
RESEARCH INNOVATION CENTERS ASSOCIATED
34

WITH THE THREE RESEARCH UNIVERSITIES, TO
35

PROVIDE THE OBJECTIV
ES OF THE CENTERS, TO
36

PROVIDE FOR RESEARCH INNOVATION CENTER
37

DIRECTORS AND STAFF FOR EACH RESEARCH
38

INNOVATION CENTER, TO PROVIDE FOR THE FUNDING
39

OF THE CENTERS, TO PROVIDE FOR FINANCING OF THE
40

COSTS ASSOCIATED WITH THE PHYSICAL SPACE FOR
41

THE INNOVATION CEN
TERS, AND TO PROVIDE POWERS
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[3794]

2

AND DUTIES OF THE SOUTH CAROLINA RESEARCH
1

INNOVATION CENTERS.

2


Amend Title To Conform

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4

Be it enacted by the General Assembly of the State of South
5

Carolina:

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7

SECTION

1.

Chapter 17, Title 13 of the 1976 Code is amended to
8

read:

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10

“CHAPTER 17

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12

South Carolina Research Authority

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14


Section 13
-
17
-
10.

There is created a body corporate and politic
15

to be known as the South Carolina Research Authority or as the
16

SCRA.

17


18


Section 13
-
17
-
20.

The
authority

SCRA (authority)

is organized
19

to enhance

the research capabilities of the state’s public and
20

private universities, to establish a continuing forum to foster
21

greater dialogue throughout the research community within the
22

State, and to promote the development of high technology
23

industries and resea
rch facilities in South Carolina.
The SCRA
24

shall contain at least two divisions: the South Carolina Research
25

Division (SCRD) and the South Carolina Research Innovation
26

Centers (SCRIC). The SCRD shall perform those duties as
27

outlined in this chapter that r
elate to the core mission of the SCRA.
28

The SCRIC shall perform those duties as outlined in this chapter
29

that establish innovation centers in South Carolina.

The objectives
30

of the authority include but are not limited by the following
to
:

31


(1)

To

advance
the general welfare of the people;

32


(2)

To

increase the opportunities for employment of citizens of
33

South Carolina;

34


(3)

To

develop the human, economic, and productive resources
35

of South Carolina;

36


(4)

To

promote and encourage expansion of the research
and
37

development sector, with emphasis on capital formation and
38

investments in research and development within South Carolina;

39


(5)

To

create and maintain a dialogue between the public and
40

private research communities;

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(6)

To

enhance the potential for pr
ivate support for South
42

Carolina colleges and universities, to promote cooperative research
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[3794]

3

efforts between the private sector and South Carolina universities
1

and colleges, and to strengthen the partnership among state
2

government, higher education, and bus
iness and industry;

3


(7)

To

assist South Carolina colleges and universities in
4

attracting nationally prominent academic researchers and
5

professors and to serve as an initial linkage between the state’s
6

outstanding existing research and the business and in
dustrial
7

sector;

8


(8)

To

maximize the research capabilities of the public and
9

private universities and colleges in South Carolina; and

10


(9)

To

foster the perception of South Carolina as an
11

international leader in the idea generation and the development,
12

testing, and implementation of new advances in science and
13

technology.

14


15


Section 13
-
17
-
30.

The authority shall operate research parks in
16

cooperation with the institutions of higher learning in South
17

Carolina. Three parks initially must be established, on
e each near
18

Clemson University, the Medical University of South Carolina,
19

and the University of South Carolina. The authority may establish
20

and operate additional research parks and research, computer and
21

technology
-
related projects, and facilities as det
ermined by the
22

board of trustees. The authority is responsible for all decisions and
23

operations of any research park, project, or facility established
24

under this chapter.

(Reserved)

25


26


Section 13
-
17
-
40.

The
authority

SCRA

shall consist of a board
27

of
twent
y
-
two

twenty
-
three

trustees that includes the following ex
28

officio members: President of the Council of Private Colleges of
29

South Carolina, Chairman of the South Carolina Commission on
30

Higher Education, President of Clemson University, President of
31

the Me
dical University of South Carolina, President of South
32

Carolina State College, President of the University of South
33

Carolina, President of Francis Marion College, Chairman of the
34

State Board for Technical and Comprehensive Education,
35

Chairman of the State
Development Board,

Governor of South
36

Carolina or his designee,
and Chairman of the Technical Advisory
37

Board of the Authority

Chairman of the House Ways and Means
38

Committee’s designee, Chairman of the Senate Finance
39

Committee’s designee, and the Secretary o
f Commerce or his
40

designee
.



41


The Governor shall name the chairman who must not be a public
42

official and who shall serve at the pleasure of the Governor.

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[3794]

4


The remaining ten trustees must be elected by the board of
1

trustees from a list of nominees submitt
ed by an ad hoc committee
2

named by the chairman and composed of the members serving as
3

elected trustees. The original elected trustees must be the same
4

members serving as elected trustees on the
authority’s predecessor
5

organization

board

on January 1,
198
3

2005
, for the terms
6

specified by the bylaws of the authority’s predecessor
. Each of the
7

Congressional Districts of South Carolina shall have at least one of
8

the ten trustees.

9


Terms of elected trustees are for four years, and half shall expire
10

every tw
o years. No elected trustee shall serve more than two
11

consecutive four
-
year elected terms. Vacancies must be filled for
12

the unexpired term in the manner of original appointment.

13


Ex officio trustees shall serve as long as they are elected or
14

appointed t
o their respective offices. In the event of a vacancy of a
15

public sector trustee, the person who temporarily performs the
16

official’s functions shall serve as an interim trustee until a new
17

official is elected or appointed.

18


A vacancy occurs upon the expi
ration of the term of service,
19

death, resignation, disqualification, or removal of any trustee.

20


The President of Clemson University, President of the Medical
21

University of South Carolina, President of the University of South
22

Carolina at Columbia, the Gov
ernor or his designee, the
Chairman
23

of the House Ways and Means Committee’s designee, the
24

Chairman of the Senate Finance Committee’s designee,
and the
25

chairman of the board of trustees, shall serve as the executive
26

committee of the board of trustees. The
executive committee by
27

majority vote shall have the authority to implement
28

recommendations and direct the executive director on policy
29

decisions for the efficient day
-
to
-
day operations of the SCRA.

30


The executive committee shall appoint a business and scie
nce
31

advisory board to include representatives from each research
32

university, the venture capital industry, relevant industry leaders,
33

and the Department of Commerce. The purpose of the advisory
34

board is to advise the board of trustees when requested by it
. The
35

advisory board shall ensure that the authority has the input of the
36

research and business communities in implementing its programs
37

and services.

38


No

A

trustee
shall

may not

receive a salary for his services as a
39

trustee; however, all
shall

must

be r
eimbursed for actual expenses
40

incurred in service to the authority.

41


The board
shall

annually
shall

submit a report to the General
42

Assembly including information on all acts of the board of trustees
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[3794]

5

together with a financial statement and full information

as to the
1

work of the authority.

2


The board shall hire
a

an executive

director
who

of the SCRA
3

who shall have direct administrative responsibility for the SCRD
4

and the SCRIC. The executive director

shall maintain through a
5

designated agent accurate and
complete books and records of
6

account, custody, and responsibility for the property and funds of
7

the authority and control over the authority bank account. The
8

Director

executive director
, with the approval of the board, has the
9

power to appoint officers
and employees, to prescribe their duties,
10

and to fix their compensation. The board of trustees shall select a
11

reputable certified public accountant to audit the books of account
12

at least once each year.

13


Regular meetings of the board of trustees must be
held at
such

a

14

time and place
as

the chairman may determine. Special meetings
15

of the board of trustees may be called by the chairman when
16

reasonable notice is given.

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Section 13
-
17
-
50.

Negotiations with any prospective industry
19

or business concern consid
ering a research park or South Carolina
20

as a facility site are confidential information and must not be
21

disclosed without the permission of the industry or business
22

concern. Information relating pending or incomplete research
23

projects is confidential as d
etermined by the board.

(Reserved)


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Section 13
-
17
-
60.

Representatives of industry and academic
26

research communities, who share a common interest in the
27

economic development of South Carolina and assume an active
28

role in the authority’s activities by thei
r personal involvement,
29

shall, upon nomination by an ad hoc committee appointed by the
30

chairman and with approval by the board of trustees, become
31

members of the Technical Advisory Board of the South Carolina
32

Research Authority. The advisory board members

serve for
33

two
-
year terms and are eligible to serve three consecutive terms.
34

The board of trustees shall replace, in the original manner, any
35

member who resigns, dies, or is otherwise unable to serve.

36


The purpose of the advisory board is to advise and as
sist the
37

board of trustees when so requested by it. The advisory board
38

shall ensure that the authority has the input of the research
39

community in implementing its programs and services.

40


The advisory board shall hold regular meetings at a time and
41

place
as determined by the advisory board chairman.

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[3794]

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Meetings of the advisory board may be called by the chairman
1

of the authority upon notice sent by any usual means of
2

communication with reasonable notice.

(Reserved)

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Section 13
-
17
-
70.

The board of trustees
has full power and
4

authority to manage the business and affairs of the authority and to
5

take
such

action as it
may consider

considers

advisable, necessary,
6

or convenient in carrying out its powers granted by this chapter
7

and any other law including the fol
lowing powers:

8



(1)

To

to

have perpetual succession as a corporation;

9



(2)

To

to

sue and be sued;

10



(3)

To

to

adopt, use, and alter a corporate seal;

11



(4)

To

to

make and amend bylaws for its management
12

consistent with the provisions of this chapter;


13



(5)

To

to

acquire, purchase, hold, use, improve, lease,
14

mortgage, sell, transfer, and dispose of any property, real, personal,
15

or mixed, or any interest therein
.
;


16



(6)

To

to

receive contributions, donations, and payments and
17

invest and disperse the a
uthority’s funds;

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(7)

To

to

construct, operate, and maintain research parks,
19

related facilities, and infrastructure;

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(8)

From

from

time to time to borrow money, make and
21

issue negotiable notes, bonds and other evidences of indebtedness,
22

including ref
unding and advanced refunding notes, bonds, and
23

other evidences of indebtedness, of the authority; to secure the
24

payment of the obligations or any part by mortgage, lien, pledge,
25

or deed of trust, on all or any of its property, contracts, franchises,
26

or re
venues, including the proceeds of any refunding and advanced
27

refunding notes, bonds, and other evidences of indebtedness and
28

the investments in which proceeds are invested and the earning on
29

and income therefrom; to invest its monies, including without
30

lim
itation its revenues and proceeds of the notes, bonds, or other
31

evidences of indebtedness, in obligations of, or obligations the
32

principal of and interest on which are guaranteed by or are fully
33

secured by contracts with, the United States of America, in
34

o
bligations of any agency, instrumentality, or corporation which
35

has been or may hereafter be created by or pursuant to an act of
36

Congress of the United States as an agency, instrumentality, or
37

corporation thereof, in direct and general obligations of the S
tate of
38

South Carolina, and in certificates of deposit issued by any bank,
39

trust company, or national banking association; provided, that the
40

authority, when investing in certificates of deposit, shall invest in
41

certificates of deposit issued by institutio
ns authorized to do
42

business in South Carolina if such institutions offer terms which,
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[3794]

7

in the opinion of the authority, are equal to or better than those
1

offered by other institutions; to make agreements with the
2

purchasers or holders of such notes, bonds,

or other evidences of
3

indebtedness or with others in connection with any such notes,
4

bonds, or other evidences of indebtedness, whether issued or to be
5

issued, as the authority shall deem advisable; and in general to
6

provide for the security for the notes
, bonds, or other evidences of
7

indebtedness and the rights of the holders thereof; provided, that in
8

the exercise of the powers herein granted to issue advanced
9

refunding notes, bonds, or other evidences of indebtedness the
10

authority, may, but shall not be

required to, avail itself of or
11

comply with any of the provisions of Sections 11
-
21
-
10 to
12

11
-
21
-
80 (Advanced Refunding Act);

13


(9)

To

to

make bylaws for the management and regulation of
14

its affairs;

15


(10)

To

to

make contracts and to execute all instrument
s
16

necessary or convenient for the carrying out of business;

17


(11)

To

to

delegate authority to any agent or establish any
18

committee in order to accomplish the purposes of the authority;

19


(12)

To

to

mortgage, pledge, hypothecate, or otherwise
20

encumber the
property, real, personal, or mixed, or facilities, or
21

revenues of the authority as security for notes, bonds, evidences of
22

indebtedness, or other obligations of the authority; provided, the
23

authority shall have no authority to pledge the credit and the tax
ing
24

power of the State or any of its political subdivisions;

25


(13)

To

to

maintain an inventory of research efforts in South
26

Carolina;

27


(14)

To

to

attract investments in research and development and
28

high technology industries by focusing attention on vari
ous
29

educational, cultural, scientific, and economic activities in South
30

Carolina and by assisting potential investors with information
31

requested to determine whether to invest in South Carolina.

32


33


Section 13
-
17
-
80.

The board of trustees shall exercise the

34

powers of the authority
except where a power has been given to
35

the executive committee by law or by delegation of authority by
36

the board of trustees
. A majority of the
aggregate number of the
37

members of the executive committee plus the

elected members of

38

the board
who are not then serving on the executive committee

39

shall constitute a quorum for the purpose of conducting business.
40

All actions may be taken by a vote of a majority of trustees present
41

unless the bylaws require a larger number.
The board shal
l
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[3794]

8

determine the number of personnel and their compensation and
1

duties.

2


3


Section 13
-
17
-
81.

As used in this chapter, ‘research park’ is
4

defined as the Clemson Research Park located in Anderson
5

County, the Carolina Research Park in Columbia, any park
6

develop
ed at Line Street and Hagood

Avenue in downtown
7

Charleston, and any park mutually designated by the SCRA and
8

the participating research university.

9


10


Section 13
-
17
-
83.

The SCRD shall operate existing research
11

parks in cooperation with Clemson University, t
he Medical
12

University of South Carolina, and the University of South Carolina
13

at Columbia. The authority may establish and operate additional
14

research parks and research, computer and technology
-
related
15

projects, and facilities as determined by the board
of trustees. The
16

authority is responsible for the decisions and operations of a
17

research park, project, or facility established pursuant to this
18

chapter.

19


20


Section 13
-
17
-
85.

Negotiations with a prospective industry or
21

business concern considering a resear
ch park or South Carolina as
22

a facility site are confidential information and must not be
23

disclosed without the permission of the industry or business
24

concern. Information relating pending or incomplete research
25

projects is confidential as determined by t
he board.

26


27


Section 13
-
17
-
87.

(A)

The SCRIC shall establish three
28

Research Innovation Centers (innovation centers) in South
29

Carolina. The innovation centers shall:

30



(1)

enhance the research and technology transition
31

capabilities of the state’s three res
earch universities;

32



(2)

establish a continuing forum to foster greater dialogue
33

between the state’s three research universities and industry;

34



(3)

promote the development of high technology industries
35

and applied research facilities in South Carolina;

36



(4)

focus their efforts on the development, testing, and
37

implementation of new advances in the life sciences,
38

pharmaceuticals, biotechnology, hydrogen and fuel cells, military
39

and defense technology, chemical products, high tech fibers,
40

advanced material
s, automotive, aerospace, and information
41

technology; and

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[3794]

9



(5)

maximize the use of the funds and activities of the
1

innovation centers for partnerships between the research
2

universities and between the public and private sectors for the
3

purpose of generati
ng professional research and development jobs
4

in South Carolina.

5


(B)

The SCRIC shall operate in conjunction with the three
6

research universities in South Carolina. One innovation center
7

must be located in each of the following areas:

8



(1)

Charleston, to

be as
sociated with the Medical University
9

of South Carolina;

10



(2)

Columbia, to be associated with the University of South
11

Carolina; and

12



(3)

the Upstate, to be associated with Clemson University.

13


(C)

Each of the three innovation centers may have a cent
er
14

director appointed or removed by the executive director with the
15

advice and consent of the president of the research university
16

associated with the respective center. Staff for innovation centers
17

should encompass a variety of specialty areas, which may

include
18

market research, intellectual property protection, finance,
19

management and business practices, relevant science and
20

technology, industry research partner recruitment, and other
21

specific skills as required to advise and assist start
-
up companies,
22

p
re
-
company initiatives, or launch new products. Consulting
23

services may be obtained for specialized needs not otherwise met
24

by existing staff personnel.

25


(D)
(1)

The SCRIC must be funded by a direct payment of funds
26

by the SCRA for at least the first three

years of the centers’
27

existence. The payments must be at least three million dollars for
28

the first year and at least four million dollars for the second year.
29

After the second year, the board of trustees shall determine the
30

method and payment of funds.

By the end of the third year, total
31

funding dedicated to the SCRIC for startup must be twelve million
32

dollars, however, the board of trustees may provide a portion of the
33

twelve million dollars with funds generated by other means as
34

determined by the boar
d. Additionally, all remaining vacant land,
35

excluding those parcels mutually agreed upon by the SCRA and
36

the university to which the land is geographically associated, not
37

currently in use by the SCRA for its core mission in the Clemson
38

Research Park in A
nderson County and in the Carolina Research
39

Park in Columbia as well as the authority’s land located at the
40

intersection of Line Street and Hagood Avenue in downtown
41

Charleston may be dedicated to the benefit of the innovation
42

centers or sold to account fo
r part of the twelve million dollar
43

[3794]

10

payment. If the land is not sold, the board of trustees shall
1

determine how best to use this land for the benefit of the
2

innovation centers consistent with the plans of the university to
3

which the land is geographically

associated. Any revenue, net of
4

expenses generated from this land, including but not limited to the
5

sale of this land, must be used for the benefit of the innovation
6

centers. If land is offered for sale by the SCRA, it must be offered
7

first to the unive
rsity associated with the innovation center before
8

it is offered to the public or to another potential buyer.

9



(2)

After the initial three
-
year period, the State shall explore
10

methods to provide additional funding until the innovation centers
11

have a reaso
nable opportunity to become self
-
sustaining. These
12

methods may include direct appropriation from the general fund,
13

private donations, or other funds as necessary.

14



(3)

Notwithstanding the provisions contained in Section
15

73.18(A) of Part IB of the General

Appropriations Bill for fiscal
16

year 2004
-
2005, or any subsequent appropriations bills or other
17

legislation, the land identified in Section 13
-
17
-
87(D)(1) and any
18

additional real property owned or held by SCRA now or in the
19

future must be titled in the nam
e of, and under the control of, the
20

SCRA.

21


(E)

Costs associated with the physical space for the innovation
22

centers, including but not limited to the costs to acquire, lease, or
23

build the physical space and to up
-
fit the physical space, must be
24

financed thr
ough the issuance of general obligation debt to the
25

maximum extent allowed by Chapter 51 of Title 11, the South
26

Carolina Research University Infrastructure Act, or by private
27

match funding. Other costs associated with the innovation centers
28

must be funded

from the budget of the authority, as specified
29

elsewhere in this chapter. The facilities and programs at each site
30

may be tailored to the predominant research focuses of that area.
31

Each may contain wet and dry laboratory space, office space,
32

prototype p
roduction facilities, pilot operations, clean rooms, and
33

other specialized facilities.

34


(F)

The SCRIC may:

35



(1)

admit qualified companies, including but not limited to
36

start
-
up companies, new product initiatives, and pre
-
company
37

initiatives into a center
and grant these companies up to two
38

hundred thousand dollars each as well as physical and staff
39

resources;

40



(2)

solicit grants and other financial support from Federal,
41

local, and private sources and fees, royalties, and other resources
42

[3794]

11

from innovation ce
nter users, which ultimately should enable the
1

innovation centers to become self sufficient;

2



(3)

allow a company to remain in an innovation center for up
3

to four years or until exceeding one million dollars in annual
4

commercial revenue; and

5



(4)

allow r
ent and fees for services initially to be waived.

6


(G)

The SCRIC shall use monetary grants for proof
-
of
-
concept
7

studies, Small Business Innovation Research program matches, the
8

protection of intellectual property, and other similar uses. Early
9

support pro
grams must support specialized equipment, facilities,
10

staff assistance, and recruitment for consultants for specific
11

projects. These support programs may be modified quarterly
12

based on the progress of the company or new product.

13


14


Section 13
-
17
-
90.

It is
found and declared that the project
15

authorized by this chapter is in all respects for the benefit of all the
16

people of the State, for the improvement of their welfare and
17

material prosperity, and is a public purpose and being a
18

corporation owned completely

by the people of the State. The
19

authority shall pay no taxes or assessments including, but not
20

limited to, income tax, sales and use tax, and property tax upon any
21

of the property acquired by it or upon any of its activities; except
22

that the authority is

entitled to the above
-
referenced sales and use
23

tax exemption only in (1) transactions to obtain tangible personal
24

property for the authority’s own use or consumption, (2)
25

transactions related to authority contracts with governmental
26

entities and nonprofit

entities, and (3) transactions related to
27

authority contracts with private, for profit entities doing business
28

in South Carolina, where these contracts do not place these entities
29

in competition with other private, for profit entities doing business
30

in So
uth Carolina. The securities and other obligations issued by
31

the authority, their transfer, and the income is free from taxation.
32

After payment of necessary operating expenses and all annual debt
33

requirements, the authority shall reinvest net earnings fu
rthering
34

the purposes of this chapter.

35


36


Section 13
-
17
-
100.

Nothing contained in the provisions of this
37

chapter
shall
, at any time or in any manner,
shall

involve the credit
38

and taxing power of the State, or of any of its political
39

subdivisions; nor shall

any of the securities or other evidences of
40

indebtedness authorized to be issued in and by this chapter ever be
41

or constitute obligations of the State or any of its political
42

subdivisions; nor shall the State or any of its political subdivisions
43

[3794]

12

ever be l
iable or responsible, in any way, for the payment of the
1

principal or interest of or on
such

a

security or
other evidence

2

another evidence

of indebtedness.

3


4


Section 13
-
17
-
130.

The authority may assist public and private
5

universities in South Carolina in
their efforts to identify and attract
6

nationally prominent academic researchers and professors to
7

accept positions in our schools following established university
8

procedures. This assistance includes coordination of corporate
9

contributions or the provisio
n for direct subsidies to establish
10

professorships and salary supplements competitive in the national
11

markets. The sole determination for hiring resides with the
12

individual institutions.

13


14


Section 13
-
17
-
140.

The authority shall identify subject areas of
15

common interest to the public and private sectors and shall
16

promote the use of South Carolina universities to perform research
17

for private industries.

18


19


Section 13
-
17
-
150.

The authority may establish, in cooperation
20

with the state’s colleges and universit
ies, a statewide professional
21

research organization to promote social, professional, and business
22

relationships among researchers in the public and private sectors of
23

the State. The organization established shall conduct regular,
24

regional, and statewide m
eetings to provide a forum for research
25

presentations and to bring researchers from various industries and
26

universities together to discuss topics of common interest.

27


28


Section 13
-
17
-
160.

The authority
shall in no way

may not

29

interfere in the relationship
s colleges and universities have
30

established or may establish in the future with industry. The
31

authority
shall

may

not infringe upon
or compete with

the rights of
32

faculty members to pursue their own research interests or to secure
33

funding for them. The a
uthority
shall

may

not inhibit similar
34

scientific activities in the research parks, but the authority may
35

promote individual parks for differing activities of scientific
36

excellence.

37


38


Section 13
-
17
-
170.

The authority and its employees are
39

exempted from th
e application of Title 8 (Public Officers and
40

Employees), except for Chapter 5 (Nepotism) and Chapter 13
41

(Ethics and Disclosure), and Title 9 (State Retirement Systems).

42


43

[3794]

13


Section 13
-
17
-
180.

The authority is authorized to establish
1

not
-
for
-
profit corporat
ions it considers necessary or appropriate to
2

carry out the purposes of this chapter. These corporations have the
3

powers provided to
such

corporations under applicable corporate
4

law including, but not limited to, the ability to establish one or
5

more for
-
p
rofit or not
-
for
-
profit corporations, provided, however,
6

that
such

the

for
-
profit corporations are subject to applicable
7

federal and state taxes, and provided that
such

the

for
-
profit
8

corporations
shall

may

not compete with any for
-
profit
9

corporations inco
rporated in South Carolina.
Any such corporation

10

These corporations

shall engage an independent accounting firm to
11

conduct an annual audit of
its

their

books and records.”

12


13

SECTION

2.

Paragraph 72.107 of Part IB of an Act of 2005
14

bearing the ratification n
umber R.73 is deleted.

15


16

SECTION

3.

This act takes effect upon approval by the Governor.

17

----
XX
----

18


19