Senate Bill No. 2796 amends the Health and Safety Code to enhance the fiscal responsibilities of the Cancer Prevention and Research Institute of Texas. Key changes include the addition of a new purpose for the Institute, which is to provide a reasonable return on investment for the state, with a non-binding target of at least 1% returns per year. The bill also introduces a new position of chief investment officer among the leadership roles that the chief executive officer must hire. Furthermore, it emphasizes the importance of financial viability for research proposals, requiring that they are expected to enter the market within 15 years and provide a complete return on investment within 20 years, contingent on their scientific or medical value.

Additional amendments focus on the criteria for grant proposals, which now include a requirement for grant recipients to provide bi-annual reports on the anticipated timeline for returns on investment. This aims to ensure accountability and transparency regarding the use of state funds. The bill also modifies existing language to prioritize proposals that demonstrate economic development benefits and enhance research capabilities in Texas. Overall, the bill seeks to strengthen the Institute's role in cancer research while ensuring that state investments yield tangible financial returns.

Statutes affected:
Introduced: Health and Safety Code 102.002, Health and Safety Code 102.0511, Health and Safety Code 102.255 (Health and Safety Code 102)