Bill > HB1448

This bill establishes an advanced technology review committee and grant program in North Dakota to support early-stage technology research and development. The committee will consist of representatives from the state's information technology department, university system, and three private sector technology experts appointed by the governor and legislative leaders. The committee will review and approve grants for entrepreneurs, startup companies, and small businesses working on innovative advanced technology projects, with a particular focus on areas like artificial intelligence, machine learning, and quantum computing. Grant recipients must use funds to enhance technology research and development, and cannot use the money for administrative costs or building investments. The grants aim to promote economic development and workforce advancement in the state. A new special fund will be created in the state treasury to support these grants, and the department of commerce will administer the program. After grant completion, the department will conduct an independent review to evaluate the project's impact, assessing factors such as product development, economic contributions, patent potential, and workforce benefits. Grant recipients must repay funds if they no longer conduct activities within the state, ensuring accountability and local economic engagement.