Bill Text: AZ HB2022 | 2011 | Fiftieth Legislature 1st Regular | Introduced

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Bill Title: Technical correction; licensing; patent; income

Spectrum: Partisan Bill (Republican 1-0)

Status: (N/A - Dead) 2011-01-04 - Prefiled [HB2022 Detail]

Download: Arizona-2011-HB2022-Introduced.html

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PREFILED    JAN 04 2011

REFERENCE TITLE: technical correction; licensing; patent; income

 

 

 

 

State of Arizona

House of Representatives

Fiftieth Legislature

First Regular Session

2011

 

 

HB 2022

 

Introduced by

Representative Court

 

 

AN ACT

 

amending section 15‑1647, Arizona Revised Statutes; relating to Arizona state university.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 15-1647, Arizona Revised Statutes, is amended to read:

START_STATUTE15-1647.  Distribution of licensing and patent income; Arizona state university; report

A.  Notwithstanding any other law, Arizona state university shall distribute the gross or net income derived from the licensing and other revenues derived from patents, including anticancer, antiviral, antifungal or antimicrobial drug discoveries or inventions, including up‑front payments, royalties and any other subsequent or eventual revenue attributable to commercialization.

B.  The distribution of income received pursuant to subsection A shall be detailed by Arizona state university in an audited annual report.  Arizona state university shall specify the expenditures and actual expenses in the audited annual report.  The report shall be distributed annually to the president of the Arizona board of regents, the governor, the president of the senate, the speaker of the house of representatives,  and the secretary of state and the department of library, archives and public records. END_STATUTE