Sec. 102.255. CONTRACT TERMS

(a) The oversight committee shall negotiate on behalf of the state regarding awarding, by grant, money under this chapter.

(b) Before awarding a grant under Subchapter E, the committee shall enter into a written contract with the grant recipient. The contract may specify that:

(1) if all or any portion of the amount of the grant is used to build a capital improvement:

(A) the state retains a lien or other interest in the capital improvement in proportion to the percentage of the grant amount used to pay for the capital improvement; and

(B) the grant recipient shall, if the capital improvement is sold:

(i) repay to the state the grant money used to pay for the capital improvement, with interest at the rate and according to the other terms provided by the contract; and

(ii) share with the state a proportionate amount of any profit realized from the sale; and

(2) if, as of a date specified in the contract, the grant recipient has not used grant money awarded under Subchapter E for the purposes for which the grant was intended, the recipient shall repay that amount and any related interest applicable under the contract to the state at the agreed rate and on the agreed terms.

(c) The contract must include terms relating to intellectual property rights consistent with the standards developed by the oversight committee under Section 102.256.

(d) Before the oversight committee may make for cancer research any grant of any proceeds of the bonds issued under Subchapter E, the recipient of the grant must have an amount of funds equal to one-half of the grant dedicated to the research that is the subject of the grant request.

Amended by: Acts 2007, 80th Leg., R.S., Ch. 266 , Sec. 4., eff. November 6, 2007. Acts 2009, 81st Leg., R.S., Ch. 368 , Sec. 13, eff. June 19, 2009.