Bill > H4375

This bill aims to preserve and advance Massachusetts' competitiveness in scientific research and innovation by establishing a Research Resilience Fund and appropriating $200 million to support public higher education institutions. The fund will provide bridge financing to help institutions adapt to potential reductions in federal research funding, with up to $80 million for flexible funding support, $40 million for talent retention, and $30 million for research partnerships and opportunities across various scientific fields. The bill creates a new Research Opportunity Review Board to oversee the fund, which will evaluate potential investments based on factors like job retention, scientific advancement, economic growth potential, and impact on vulnerable populations. The legislation defines an "independent research institution" as a nonprofit research organization with tax-exempt status, and allows the Massachusetts Development Finance Agency to solicit gifts and grants to support the fund. Additionally, the bill makes several technical amendments to extend and modify existing funding mechanisms, with a particular focus on protecting scientific research, retaining talent, and supporting economic development in Massachusetts by helping research institutions bridge potential funding gaps.

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https://malegislature.gov/Bills/194/H4375