Second Regular Session
              Sixty-eighth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 12-0661.01 Jerry Barry x4341    HOUSE BILL 12-1219
                    HOUSE SPONSORSHIP
 Miklosi, Todd
 
                   SENATE SPONSORSHIP
 Williams S., 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 State, Veterans, & Military Affairs
 
 
 
 Appropriations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning funding for emerging medical discoveries at the
            health sciences center, and, in connection therewith, 
            making an appropriation.
       
       
                           Bill Summary
       
            (Note: This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            The bill establishes a new fund to pay for the costs of clinical
       trials, governmental approval, and product sales of new medical products
       discovered at the health sciences center at the university of Colorado.
            The bill appropriates $10 million to the fund from the general
       fund.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, add 23-20-137.5 as
       follows:
            23-20-137.5. Emerging medical research fund - legislative
       declaration - creation. (1)  The general assembly hereby finds and
       declares that:
            (a)  The health sciences center at the university of
       Colorado is a premier medical research facility engaging in
       research in emerging biomedical, pharmaceutical, diagnostic,
       and medical device products;
            (b)  However, once the initial development stages of
       research, discovery, patenting, and proof-of-concept are
       completed, the health sciences center lacks the financial
       capability to complete the production of products through the
       stages of clinical trial, approval from the federal food and
       drug administration, and product sale;
            (c)  This lack of financial capability causes the health
       sciences center to potentially lose millions of dollars in the
       sale of products initially discovered at the health sciences
       center; and
            (d)  The establishment of a fund to pay for clinical trials,
       approval from the federal food and drug administration, and
       product sales could result in the state receiving millions of
       additional dollars.
            (2) (a)  There is hereby created in the state treasury the
       health sciences center emerging medical research fund,
       referred to in this section as the "fund". The fund consists of all
       moneys appropriated to the fund by the general assembly, any
       moneys received by the health sciences center to pay for
       clinical trials and federal approval of medical products, and
       other gifts, grants, or donations received by the health sciences
       center.
            (b)  Moneys in the fund are subject to annual
       appropriation by the general assembly to the health sciences
       center to pay for clinical trials, approval from the federal food
       and drug administration, and product sales for medical
       products discovered and developed at the health sciences
       center.
            (c)  Any moneys in the fund not expended for the purpose
       of this section may be invested by the state treasurer as
       provided by law. All interest and income derived from the
       investment and deposit of moneys in the fund shall be credited
       to the fund. Any unexpended and unencumbered moneys
       remaining in the fund at the end of a fiscal year shall remain in
       the fund and shall not be credited or transferred to the
       general fund or another fund.
            SECTION 2.  Appropriation. In addition to any other
       appropriation, there is hereby appropriated, out of any moneys in the
       general fund not otherwise appropriated, to the health sciences center
       emerging medical research fund, created in section 23-20-137.5,
       Colorado Revised Statutes, for the fiscal year beginning July 1, 2012, the
       sum of $10,000,000, or so much thereof as may be necessary, for the
       implementation of this act.
            SECTION 3.  Act subject to petition - effective date. This act
       takes effect at 12:01 a.m. on the day following the expiration of the
       ninety-day period after final adjournment of the general assembly (August
       8, 2012, if adjournment sine die is on May 9, 2012); except that, if a
       referendum petition is filed pursuant to section 1 (3) of article V of the
       state constitution against this act or an item, section, or part of this act
       within such period, then the act, item, section, or part will not take effect
       unless approved by the people at the general election to be held in
       November 2012 and, in such case, will take effect on the date of the
       official declaration of the vote thereon by the governor.