2. The office shall provide no later than March first, two thousand, a strategic plan to the governor, the temporary president of the senate and the speaker of the assembly which shall:

1. (a) establish criteria for the awarding of funds made available through the research development program; all awards shall be made on a competitive basis;
2. (b) provide a schedule for issuance of requests for proposals for the research development program awards;
3. (c) provide a schedule for completion of review of proposals submitted by institutions of higher education and research institutions to the office;
4. (d) provide procedures for the issuance of awards from the research development program.

3. The faculty development program is hereby created to assist institutions of higher education and research institutions with the retention and recruitment of research faculty. Funds appropriated for this program shall be administered by the office pursuant to request for proposals. Consideration for the allocation of awards shall be given to all institutions of higher education and research institutions within the state provided such institutions demonstrate to the satisfaction of the advisory council a specific need for such funds and the manner in which such award for the recruitment and retention of research faculty would enhance the research capabilities and reputation of the institution. Criteria for such awards shall include, but not be limited to, the ability of the faculty member to leverage and attract federal funds, venture capital and private industry funds, and the willingness of the faculty member to pursue entrepreneurial enterprises resulting in new business or the expansion of existing business in New York state. The office shall promulgate rules and regulations to establish:

1. (a) the duration of grants for faculty awards;
2. (b) matching funds required from the academic and research institutions;
3. (c) a schedule for an annual reduction of the faculty development award, and a corresponding increase in the matching funds from the academic or research institution; and
4. (d) other rules and regulations deemed necessary by the office for the administration of this program.
5. 3-a. The faculty development and technology transfer advisory council shall be established by the commissioner of economic development to review and recommend proposals submitted for consideration under subdivisions three and five of this section. The council shall consist of eleven members that shall include representatives from four different universities, one national lab, two New York state incubators or New York state innovation hot spots, two companies and two non-profits with a statewide economic development mission. Each representative shall have technology transfer experience. In addition, at least six members of the council shall have a demonstrated background in bio-medicine, biotechnology or other life sciences.

6. 4.

   1. (a) The capital facility program shall provide financing for the design, acquisition, construction, reconstruction, rehabilitation or improvement of research and development facilities, including equipment. Funds appropriated or reappropriated for the capital facility program by chapter six hundred twenty-four of the laws of nineteen hundred ninety-nine shall be awarded to no more than six primary host institutions.
   2. (b) Criteria for the issuance of awards by the advisory council shall include but need not be limited to the following: potential future growth and economic impact within New York state of the proposed research to be undertaken at such facilities, available expertise at such campus in the scientific discipline designated for the center for advanced technology and/or the center's host campus, an evaluation of the ability of the proposed research to be undertaken at such facilities to aid existing business and to create new business in New York state, and the ability of the proposal to leverage and attract federal funds, venture capital and private industry funds.
   3. (d) The capital facility program shall also provide financing for the reconstruction, rehabilitation or improvement of existing laboratory facilities. Funds available pursuant to this subdivision shall be available for research facilities at all institutions of higher education and research institutions in New York state.
   4. (e) The office and the city university construction fund may contract for the construction fund to design, construct, acquire, reconstruct, rehabilitate and improve research and development facilities for those primary host institutions which are senior colleges of the city university of New York.
7. 5. An incentive program is hereby created to provide additional assistance to technology transfer or commercialization activities at institutions of higher education and research institutions in the state of New York for the purpose of encouraging technology transfer from institutions of higher education and research institutions to businesses and for commercialization within New York state. Funds appropriated for this program shall be available for personal service expenses to enhance the technology transfer abilities or commercialization of research of higher education and research institutions to businesses within New York state including but not limited to patent applications, the creation of business and marketing plans, venture capital conferences and non-capital costs associated with the development of real property owned by such institution of higher education or research institution for research and development purposes. Funds awarded under the incentive program shall not exceed fifty percent of the cost of the purpose for which such funds shall be applied. The faculty development and technology transfer advisory council, as established by subdivision three-a of this section, shall review and recommend proposals submitted for consideration pursuant to this subdivision. Preference shall be given to proposals developed in coordination with a private or public medical school located in the state.
8. 6. A center for advanced technology development program is created whereby funds shall be awarded to centers for advanced technology for the purpose of enhancing and expanding the existing role of the center in the area for which it is designated. Funds appropriated for the development program shall be awarded to such centers for advanced technology. Criteria for the issuance of awards shall be established by the office and shall include but need not be limited to the economic development potential of the research undertaken at such center for advanced technology, funding leveraged from other sources including private interests and the federal government, potential of revenues accruing to the institution of higher education or research institution from the licensing of the products of research conducted at such center of advanced technology and the interaction of such center with private industry.