An Act To Amend the Laws Pertaining to the Maine Economic Improvement Fund
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §948, sub-§1, ¶F, as amended by PL 1999, c. 401, Pt. AAA, §5, is further amended to read:
F.
Providing an annual report to the Governor and the Legislature by January 1st of each regular session of the Legislature setting forth:
(1) The operations of the fund during the fiscal year;
(2) The assets and liabilities of the fund at the end of its most recent fiscal year; and
(3) The annual measurable goals and objectives of the fund, as established by the board, and an assessment of the achievement of those goals and objectives. The goals and objectives must include, but may not be limited to, education, research and development; and
(4) A summary of the research and development projects that have been funded pursuant to paragraph H, including any external funding sources that have been leveraged as a result of these awards;
Sec. 2. 10 MRSA §948, sub-§1, ¶G, as repealed and replaced by PL 1997, c. 683, Pt. A, §4, is amended to read:
G. Protecting all intellectual property in accordance with the "University of Maine System Statement of Policy Governing Patents and Copyrights," including, but not limited to, proprietary information contained in proposals, grants, contracts or other legal agreements. Publication of information may be reasonably delayed until appropriate measures have been taken to protect the intellectual property . ; and
Sec. 3. 10 MRSA §948, sub-§1, ¶H is enacted to read:
H. Apportioning a minimum percentage of the annual disbursements from the fund among the University of Maine at Augusta, the University of Maine at Farmington, the University of Maine at Fort Kent, the University of Maine at Machias and the University of Maine at Presque Isle to support research and development as follows: beginning July 1, 2013 a minimum of 2.5% and beginning July 1, 2015 a minimum of 3%.
Sec. 4. Task force established. The Maine Economic Improvement Fund Task Force, referred to in this section as "the task force," is established to review the Maine Economic Improvement Fund, referred to in this section as “the fund” and recommend any changes necessary to enhance investment in targeted research and development and product innovation and to provide basic investment necessary to obtain matching funds and competitive grants from private and federal sources.
1. Membership. The task force consists of 6 members as follows:
A. One representative of the University of Maine, appointed by the President of the Senate;
B. One representative of the University of Southern Maine, appointed by the Speaker of the House;
C. A representative of one of the public university campuses listed in the Maine Revised Statutes, Title 10, section 948, subsection 1, paragraph H, appointed by the President of the Senate;
D. A representative of one of the public university campuses listed in the Maine Revised Statutes, Title 10, section 948, subsection 1, paragraph H, appointed by the Speaker of the House;
E. The Chancellor of the University of Maine System or the chancellor’s designee; and
F. The President of the Maine Maritime Academy or the president’s designee.
2. Chair. After all members of the task force have been named, the task force shall elect one member to serve as chair.
3. Duties. The task force shall:
A. Assess the extent to which past distributions from the fund resulted in the leveraging of external funds, the extent to which research that was funded resulted in long-term, direct applications to enhance the State’s economic or commercial capacity and the extent to which research that was funded resulted in advancing a program of successful partnerships and positive economic impact;
B. Assess the competitive criteria currently used by the fund, review the targeted technologies identified in the Maine Revised Statutes, Title 5, chapter 407 for which funds may be used to perform university-based research and consider options for revising the criteria and targeted technologies to ensure a more equitable distribution of funds; and
C. Examine the recent fund distributions among the recipients and assess whether revisions to the fund should be made to support the performance of increased research at the University of Maine at Augusta, the University of Maine at Farmington, the University of Maine at Fort Kent, the University of Maine at Machias and the University of Maine at Presque Isle and the performance of research at the Maine Maritime Academy.
4. Meetings. The task force shall meet as necessary to complete the assigned duties.
5. Staffing. The University of Maine System shall provide staff support to the task force within existing resources.
6. Compensation. Members of the task force do not receive compensation for their time, travel or other expenses.
7. Report. The task force shall complete its work no later than December 15, 2012 and shall submit its report and recommendations to the joint standing committee of the Legislature having jurisdiction over business, research and economic development matters no later than January 8, 2013.
8. Authority to submit legislation. Following receipt and review of the report, the joint standing committee of the Legislature having jurisdiction over business, research and economic development matters may submit a bill concerning the subject matter of the report to the First Regular Session of the 126th Legislature.
Effective 90 days following adjournment of the 125th Legislature, Second Regular Session, unless otherwise indicated.