MICHIGAN STRATEGIC FUND ACT (EXCERPT)
Act 270 of 1984
125.2088p Michigan life sciences pipeline; establishment; purpose; commencement of operations; awards; selection of pipeline operator; request for proposals; contract; duration; report; "pipeline" defined.
(1) The fund shall establish a Michigan life sciences pipeline to promote the development of businesses in this state engaged in providing goods and services related to the development and commercialization of life sciences. The pipeline shall begin operations not later than June 1, 2006. The pipeline shall do all of the following:
(a) Recruit Michigan-based businesses involved in life sciences research and commercialization and related goods and services to affiliate themselves with the pipeline as members.
(b) Market the services of the pipeline, its members, and life sciences research and commercialization in Michigan to develop and increase the amount of business activity for members of the pipeline.
(c) Otherwise assist members of the pipeline in developing life sciences research and commercialization activities in this state.
(d) Maintain and make available a list of members of the pipeline and services provided by members of the pipeline.
(e) At the discretion of the pipeline, charge members of the pipeline a reasonable fee based on the services provided by the pipeline.
(2) The fund shall encourage a recipient of expenditures under this chapter engaged in the development or commercialization of life sciences in this state to utilize goods or services provided by a member or members of the pipeline.
(3) When making awards under the commercialization, research, and development program established by the commercialization board under section 88k to recipients engaged in the development or commercialization of life sciences in this state, the commercialization board shall provide additional weighting to an applicant that demonstrates a commitment to utilize or collaborate with a member or members of the pipeline when procuring goods or services, if the goods or services are reasonably available from a member or members of the pipeline.
(4) The fund shall select a person or entity to operate the pipeline by issuing a request for proposals. The person or entity selected to operate the pipeline shall demonstrate to the fund the proven ability to do all the following:
(a) Coordinate commercialization of life sciences research initiatives.
(b) Assist life sciences start-up companies.
(c) Market life sciences related activities and capabilities.
(d) Coordinate or operate programs that have a history of ongoing independent peer review.
(e) Have regulatory experience necessary for commercial approval of pharmaceutical and medical devices.
(f) Develop and implement a plan for operating the pipeline.
(5) The fund shall enter into a contract with a duration of not less than 4 years with the person or entity selected to operate the pipeline.
(6) Not later than 5 years after the effective date of the amendatory act that added this section, the person or entity selected to operate the pipeline shall report to the governor, the clerk of the house of representatives, the secretary of the senate, and the chairpersons of the house of representatives and senate standing committees on appropriations on the effectiveness of the pipeline in developing life sciences research and commercialization activities in this state.
(7) As used in this section, "pipeline" means the Michigan life sciences pipeline established in this section.
History: Add. 2005, Act 213, Imd. Eff. Nov. 21, 2005
Popular Name: Strategic Fund
© 2009 Legislative Council, State of Michigan