Hughes Bill’s 1% Return Target For Cancer Research Is ‘Non-Binding’

The text as introduced · 730 words

By: Hughes
S.B. No. 2796

AN ACT

relating to the Cancer Prevention Research Institute's fiscal

responsibilities to the state of Texas.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 102.002, Health and Safety Code, is

amended to read as follows:

Sec. 102.002. PURPOSES. The Cancer Prevention and Research

Institute of Texas is established to:

(1) create and expedite innovation in the area of

cancer research and in enhancing the potential for a medical

or scientific breakthrough in the prevention of cancer and

cures for cancer;

(2) attract, create, or expand research capabilities

of public or private institutions of higher education and

other public or private entities that will promote a

substantial increase in cancer research and in the creation

of high-quality new jobs in this state; and

(3) develop and implement the Texas Cancer Plan . ; and

(4) provide a reasonable return on investment for the

state, with fiduciary responsibilities to the state of Texas,

with a non-binding target of at least 1% returns per year,

subject to the decision of the Institute's oversight

committee.

SECTION 2. Section 102.0511(c), Health and Safety Code, is

amended to read as follows:

(c) The chief executive officer shall hire:

(1) one chief scientific officer;

(2) one chief operating officer;

(3) one chief investment officer;

( 3 4 ) one chief product development officer; and

( 4 5 ) one chief prevention officer.

SECTION 3. Section 102.251(a-2-C), Health and Safety Code,

is amended to read as follows:

(C) to the extent possible, gives priority to

proposals that:

(i) could lead to immediate or long-term medical

and scientific breakthroughs in the area of cancer

prevention or cures for cancer;

(ii) strengthen and enhance fundamental science

in cancer research;

(iii) ensure a comprehensive coordinated

approach to cancer research;

(iv) to the best of the program integration

committee's knowledge, with consultation by the chief

investment officer and chief financial officer, is

expected to be financially viable and to enter the

market within 15 years of initial investment, provide a

complete return on initial investment for the state

within 20 years, as long as a grant is considered by the

program integration committee to be of extraordinary

scientific or medical value;

( iv v ) are interdisciplinary or

interinstitutional;

(v i ) address federal or other major research

sponsors' priorities in emerging scientific or

technology fields in the area of cancer prevention or

cures for cancer;

(vi i ) are matched with funds available by a

private or nonprofit entity and institution or

institutions of higher education;

(vii i ) are collaborative between any combination

of private and nonprofit entities, public or private

agencies or institutions in this state, and public or

private institutions outside this state;

( viii ix ) have a demonstrable economic

development benefit to this state;

( i x) enhance research superiority at

institutions of higher education in this state by

creating new research superiority, attracting existing

research superiority from institutions not located in

this state and other research entities, or enhancing

existing research superiority by attracting from

outside this state additional researchers and

resources;

(x i ) expedite innovation and product

development, attract, create, or expand private sector

entities that will drive a substantial increase in

high-quality jobs, and increase higher education

applied science or technology research capabilities;

and

(xi i ) address the goals of the Texas Cancer Plan;

and

SECTION 4. Section 102.255 (c-3), Health and Safety Code,

is amended to read as follows:

(3) specify:

(A) the amount of matching funds to be dedicated

under Subdivision (2);

(B) the period in which the grant award must be

spent;

(C) the name of the research project to which

matching funds are to be dedicated; and

(D) the specific deliverables of the project that

is the subject of the grant proposal . ; and

(E) an agreement by the grant recipient to

provide bi-annual reports on the anticipated timeline

for a return on investment for the state's portion of

the grant money, when taking into consideration the

progress made by grant recipient and market conditions.

SECTION 5. This Act takes effect immediately if it receives

a vote of two-thirds of all the members elected to each house, as

provided by Section 39, Article III, Texas Constitution. If this

Act does not receive the vote necessary for immediate effect, this

Act takes effect September 1, 2025.