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 new council will consist of members with expertise in medical devices, pharmaceuticals, and biotechnology, appointed by various state officials. The council will advise the industrial commission on policies related to the life science development fund, which is designated to support research, development, and educational projects in the life sciences sector. The bill also outlines the council's meeting requirements, confidentiality provisions for sensitive information, and the powers of the industrial commission to provide financial assistance and incentives to foster the life science industry in North Dakota.

Additionally, the bill mandates a continuing appropriation for the life science development fund, ensuring that all funds are allocated for the purposes outlined in the new chapter. It requires the industrial commission to submit annual reports detailing the financial assistance awarded, expenditures, and the status of funded projects, which will be made publicly available. The bill includes a transfer of funds from the bioscience innovation grant fund to the new life science development fund and appropriates $9 million from the general fund for this purpose, with an emergency declaration for immediate implementation of certain sections.

Statutes affected:
INTRODUCED: 4.1-01-20.1
Adopted by the Senate Education Committee: 4.1-01-20.1
FIRST ENGROSSMENT: 4.1-01-20.1
Prepared by the Legislative Council staff for Senate Appropriations - Education and Environment Division Committee: 4.1-01-20.1
SECOND ENGROSSMENT: 4.1-01-20.1
Prepared by the Legislative Council staff for Senator Cleary: 4.1-01-20.1
THIRD ENGROSSMENT: 4.1-01-20.1