(a) The institute shall maintain complete records of:
- (1) each grant application submitted to the institute, including each application funded by the institute or withdrawn after submission and the score the peer review committee assigns to each reviewed application in accordance with rules adopted under Section 101A.302;
- (2) each grant recipient's financial reports, including the amount of matching money dedicated to the research specified for the grant award;
- (3) each grant recipient's progress reports;
- (4) the identity of each principal investor and owner of each grant recipient as provided by institute rules to determine any conflict of interest; and
- (5) the institute's review of the grant recipient's financial reports and progress reports.
- (b) The institute shall keep each record described by Subsection (a) until at least the 15th anniversary of the record's date of issuance.
- (c) The institute shall have prepared periodic audits of any electronic grant management system used to maintain records of grant applications and grant awards. The institute shall timely address each weakness identified in an audit of the system.
Added by Acts 2025, 89th Leg., R.S., Ch. 137 (S.B. 5), Sec. 1, eff. December 1, 2025, subject to resolution of an election contest under Chapter 233, Election Code, relating to Article III, Section 68, Texas Constitution.