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West Virginia Code Chapter 18B. Higher Education § 18B-18A-6. Eligible uses of directed research endowment proceeds

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Endowment proceeds may be expended by a participating institution or its affiliated research corporation for any of the following designated uses:

(1) To pay the base salaries of newly endowed department chairs, new professorship positions, new research scientists and new research staff positions, including, but not limited to, research technicians and support personnel, and to fund affiliated graduate or undergraduate student research fellowships.

All positions or fellowships shall be engaged primarily in one of the following areas of research:

(A) Energy and environmental sciences;

(B) Nanotechnology and materials science;

(C) Biological, biotechnological and biomedical sciences;

(D) Transportation technology and logistics;

(E) Biometrics, security, sensing and related identification technologies; or

(F) Gerontology; or

(2) To purchase basic infrastructure directly related to an area of research identified in subdivision (1) of this subsection, including, but not limited to, laboratory and scientific equipment, and other essential equipment and materials.

(b) Eligibility criteria regarding the expenditure of directed endowment proceeds to pay the base salaries of personnel, to fund student fellowships and to purchase basic infrastructure shall be established by rules of the commission promulgated pursuant to section eleven of this article.

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Cite this article: FindLaw.com - West Virginia Code Chapter 18B. Higher Education § 18B-18A-6. Eligible uses of directed research endowment proceeds - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-18b-higher-education/wv-code-sect-18b-18a-6/

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