Section 43.350.070. Life sciences discovery fund.

The life sciences discovery fund is created in the custody of the state treasurer. Only the board or the board's designee may authorize expenditures from the fund. Expenditures from the fund may be made only for purposes of this chapter. Administrative expenses of the authority, including staff support, may be paid only from the fund. Revenues to the fund consist of transfers made by the legislature from strategic contribution payments deposited in the tobacco settlement account under RCW 43.79.480, moneys received pursuant to contribution agreements entered into pursuant to RCW 43.350.030, moneys received from gifts, grants, and bequests, and interest earned on the fund. During the 2015-2017 fiscal biennium, the legislature may transfer to other state funds or accounts such amounts as represent the excess balance of the life sciences discovery fund.

[ 2016 1st sp.s. c 36 § 937; 2011 c 5 § 916; 2005 c 424 § 8.]

NOTES:

Effective date—2016 1st sp.s. c 36: See note following RCW 18.20.430.

Effective date—2011 c 5: See note following RCW 43.79.487.

2016 1st sp.s. c 36 § 937; 2011 c 5 § 916; 2005 c 424 § 8.