Maine Revised Statutes Title 10. Commerce and Trade § 929-C. Research and development budgetary recommendations

The Maine Economic Growth Council, established in section 929-A, with input from the Office of Innovation, established pursuant to Title 5, section 13105, and the Maine Innovation Economy Advisory Board, under section 949, shall support and track progress toward the goal of increasing the State's research and development spending as a percentage of the State's gross domestic product to meet the national average by 2030 and maintaining that national average each year thereafter. By December 1st of each year, the council shall submit an annual accountability update that summarizes the State's aggregate commitment to research and development investments and provides data on the commercialization of laboratorybased innovation projects that occurred in the most recently available year to the Governor and the joint standing committee of the Legislature having jurisdiction over research and economic development matters and the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs.

After reviewing the annual accountability update, the joint standing committee of the Legislature having jurisdiction over research and economic development matters and the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs may each report out legislation to implement any recommendations contained in the update or to address any other issues identified in the update.