1. (1) There is a research and commercialization special revenue account within the state treasury. The purpose of the account is to establish a permanent source of funding for research and commercialization projects to be conducted at research and commercialization centers in the state and to pay the costs of administering those projects.
2. (2) The research and commercialization account must be invested by the board of investments. Earnings on the account must be deposited in the account for distribution pursuant to 90-3-1003(3), (4), and (7).

History: En. Sec. 2, Ch. 563, L. 1999; amd. Sec. 35, Ch. 34, L. 2001; amd. Sec. 1, Ch. 431, L. 2001; amd. Sec. 2, Ch. 539, L. 2003; amd. Sec. 1, Ch. 438, L. 2007; amd. Sec. 1, Ch. 176, L. 2015.