The bill dissolves the institute after 7 years, on December 31, 2006, and on that date returns to the State all property purchased with General Fund appropriations and transfers to the General Fund all unencumbered appropriations.

Part L requires the submission of a plan for a comprehensive evaluation of state investments in research and development by December 31, 1999 and requires the submission of a comprehensive evaluation every 5 years.

Part M deletes the authority of the Maine Technology Investment Fund to make direct investments in market-oriented technology extension, commercialization and development opportunities and provides for the transfer of direct investment activities from the Maine Technology Investment Fund to the Maine Technology Institute. It also changes the name of the Maine Technology Investment Fund to the Maine Technology Capacity Fund.