Bill Text: WV HB3273 | 2023 | Regular Session | Introduced

West Virginia House Bill 3273 (Prior Session Legislation)

Introduced

Bill Title: Create State Tech Transfer Commission

Spectrum: Partisan Bill (Republican 10-0)

Status: (Introduced - Dead) 2023-02-14 - To House Judiciary [HB3273 Detail]

Download: West_Virginia-2023-HB3273-Introduced.html

WEST VIRGINIA LEGISLATURE

2023 REGULAR SESSION

Introduced

House Bill 3273

By Delegates Keaton, Linville, Phillips, Steele, Cannon, Street, Clark, Zatezalo, Maynor, and Honaker

[Introduced February 03, 2023; Referred to the Committee on Education then the Judiciary]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article, designated §18B-12B-1, §18B-12B-2, §18B-12B-3, §18B-12B-4, §18B-12B-5; relating to establishing the State Tech Transfer Commission.

Be it enacted by the Legislature of West Virginia:

article 12B. State Tech Transfer Commission.

§18B-12B-1. Declaration of policy.

(a) Intellectual property owned by a state institution of higher education is, ultimately, the property of the state of West Virginia.

(b) The chief fruit of intellectual property owned by the state of West Virginia is commercialization of such property for creation of jobs and economic prosperity.

(c) The public policy of this state shall be to promote the public interest of commercializing intellectual property held by state institutions of higher education at a reasonable amount of monetary satisfaction for the institution while abiding by reasonable terms.

§18B-12B-2. State Tech Transfer Commission established; membership; staffing.

(a) There is created a State Tech Transfer Commission, situated within the Higher Education Policy Commission;

(b) It shall be composed of five members appointed by the Governor to staggered, three-year terms fitting the following qualifications:

(1) A member who is an attorney from a list of three qualified nominees furnished by the West Virginia State Bar;

(2) A member with a professional background in the field of engineering;

(3) A member with a professional background in the field of bioscience;

(4) A member with a professional background in a venture capital firm or startup company;

(5) A member who is retired from administration of a state institution of higher education.

(d) The Executive Director of the Jobs & Investment Trust shall be a member;

(e) Ex-Officio, Non-voting members of the Legislature, appointed by the Speaker and Senate President;

(f) Authorized to hire an executive director and staff necessary to effectuate the provisions of this article at a salary set by the Commission;

The Executive Director of the State Tech Transfer Commission serves at the will and pleasure of the Governor.

§18B-12B-3. Duties and Powers of the Commission.

(a) An entity seeking to license, acquire, or otherwise utilize intellectual property owned by a state institution of higher education may petition the State Tech Transfer Commission for a hearing to ascertain whether:

(1) A party to the negotiation is not negotiating in good faith;

(2) A party to the negotiation is not putting forth reasonable effort in pursuit of an agreement;

(3) The petitioner's proposed agreement to the state institution of higher education serves, prima facie, the public interest of commercializing intellectual property held at state institutions of higher education at a reasonable amount of monetary satisfaction for the institution while abiding by reasonable terms;

(4) The petitioner's proposed agreement certifies that the petitioners will avail themselves of the provisions of the Impact Fund provided for in §12-6E-1, et seq. of this code

(b) The petitioner and the state institution of higher education shall submit their respective proposed agreement to the Commission for consideration.

(c) In the event that the Commission makes a finding consistent with (a)(1) or (a)(2) above, the Commission may enter an order to do any of the following:

(1) Remand negotiations to the two parties with parameters prescribed by the Commission;

(2) Offer a proposed agreement to the petitioner on behalf of the state institution of higher education;

(3) Adopt the petitioner's proposed agreement on behalf of the state institution of higher education.

(d) In the event the Commission makes a finding consistent with (a)(3) above, the Commission may enter an order to do any of the following:

(1) Remand negotiations to the two parties with parameters prescribed by the Commission;

(2) Offer a proposed agreement to the petitioner on behalf of the state institution of higher education;

(3) Adopt the petitioner's proposed agreement on behalf of the state institution of higher education.

(e) In the event the Commission makes a finding consistent with (a)(4) above, the Commission may enter an order to do any of the following:

(1) Remand negotiations to the two parties with parameters prescribed by the Commission;

(2) Offer a proposed agreement to the petitioner on behalf of the state institution of higher education;

(3) Adopt the petitioner's proposed agreement on behalf of the state institution of higher education.

§18B-12B-4. Construction of Statute; severability.

(a) This article shall be construed in conformity with any applicable federal law.

(b) If any provision of this article or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the article, and to this end the provisions of this article are severable.

§18B-12B-5. Effective date.

This article shall take effect on January 1, 2024.

NOTE: The purpose of this bill is to establish the State Tech Transfer Commission for the purpose of oversight for the utilization of intellectual property held by state institutions of higher education.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.