Connecticut General Statutes Title 32. Commerce and Economic and Community Development § 32-41kk. Regenerative Medicine Research Fund. Application for financial assistance. Available funding

(a) There is established the “Regenerative Medicine Research Fund”, which shall be a separate, nonlapsing account within the General Fund. The fund may contain any moneys required or permitted by law to be deposited in the fund and any funds received from any public or private contributions, gifts, grants, donations, bequests or devises to the fund. The chief executive officer of Connecticut Innovations, Incorporated, (1) shall award financial assistance from the fund in accordance with the provisions of subsection (b) of this section, and (2) may enter into agreements with other entities, including, but not limited to, the government of any state or foreign country for the purpose of advancing research collaboration opportunities for recipients of financial assistance under this section.

(b) The chief executive officer of Connecticut Innovations, Incorporated, shall develop an application for financial assistance under this section for the purpose of conducting regenerative medicine research and may receive applications from eligible institutions for such financial assistance. The chief executive officer of Connecticut Innovations, Incorporated, shall require any applicant for financial assistance under this section to conduct regenerative medicine research to submit (1) a complete description of the applicant's organization, (2) the applicant's plans for regenerative medicine research and proposed funding for such research from sources other than the state, (3) proposed arrangements concerning financial benefits to the state as a result of any patent, royalty payment or similar rights developing from any proposed research made possible by the awarding of such financial assistance, and (4) a form attesting to compliance with subsections (c) and (d) of section 32-41jj if the regenerative medicine research involves the use of embryonic stem cells.

(c) Commencing with the fiscal year ending June 30, 2006, and for each of the thirteen consecutive fiscal years thereafter, until the fiscal year ending June 30, 2019, funds shall be available from the Regenerative Medicine Research Fund for financial assistance to eligible institutions for the purpose of conducting regenerative medicine research. Any funds not used for such financial assistance during a fiscal year shall be carried forward for the fiscal year next succeeding for such financial assistance.