State Fiscal Highlights
· No direct fiscal effect on the state.
Local Fiscal Highlights
· No direct fiscal effect on political subdivisions.
Detailed Fiscal Analysis
The bill authorizes institutions of higher education to encourage entrepreneurial projects, which are efforts to develop or commercialize technology through research or technology transfer or investment in physical capital. The bill permits these institutions to:
1. Acquire ownership interests in entrepreneurial projects in exchange for intellectual property rights;
2. Borrow against nontax revenue to invest in entrepreneurial projects; and
3. Loan money or guarantee loans to support entrepreneurial projects.
The bill does not have a direct fiscal effect on institutions of higher education, but if an institution chooses to take advantage of the bill's provisions, there would likely be a fiscal effect. For example, the institution would likely incur costs in investing in the projects. In addition, a successful project, such as the commercialization of the institution's intellectual property, may increase the institution's revenues.
