This bill proposes the creation of a new chapter in Title 54 of the North Dakota Century Code, establishing a Life Science Research Council and repealing the existing bioscience innovation grant program. The bill defines key terms related to biotechnology, life sciences, medical devices, and pharmaceuticals, and outlines the structure and responsibilities of the Life Science Research Council, which will consist of members appointed by the governor with expertise in these areas. The council will advise the industrial commission on policies related to the life science development fund, recommend financial assistance for various projects, and maintain confidentiality regarding sensitive information.

Additionally, the bill provides for a continuing appropriation to the life science development fund, which will receive a transfer of funds from the bioscience innovation grant fund and an appropriation of $12 million from the general fund. The industrial commission is granted powers to provide financial assistance, incentives, and technical support to foster the growth of the life science industry in North Dakota. The bill is declared an emergency measure, indicating its immediate importance for the state's economic development in the life sciences sector.

Statutes affected:
INTRODUCED: 4.1-01-20.1