Law:Title 4. Executive Branch. Subtitle F. Commerce And Industrial Development from Chapter 488. Southeast Texas Biotechnology Park (Texas)

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Subtitle F. Commerce And Industrial Development

Contents

Chapter 488. Southeast Texas Biotechnology Park

Section  488.001.  Coalition Establishment.

The Southeast Texas Biotechnology Park Coalition is established. The coalition is composed of public and private health-related institutions, and other private for-profit and nonprofit and governmental institutions, and is established for the purpose of developing, funding, and operating a biotechnology research and development park to be known as the Southeast Texas Biotechnology Park.

Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11, 2001.



Section  488.002.  Purpose; Location.

(a) The park shall be operated for the purposes of:

(1)  furthering the mission of the coalition members;

(2)  economic development of the state, including the production of net revenue to the state and coalition members, from the commercialization of biotechnology research;

(3)  recruiting and retaining leading scientists and established biotechnology enterprises; and

(4)  supporting the growth and development of new biotechnology enterprises.

(b)  The park shall be located in the area of Houston, Texas, known as the Texas Medical Center.

Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11, 2001.



Section  488.003.  Coalition Members.

The membership of the coalition may include any interested governmental or private for-profit or nonprofit institution, including:

(1)  Baylor College of Medicine;

(2)  Johnson Space Center of the National Aeronautics and Space Administration;

(3)  Memorial Hermann Health Care System;

(4)  Rice University;

(5)  St. Luke's Episcopal Health System/Texas Heart Institute;

(6)  Texas Southern University;

(7)  TIRR Systems;

(8)  the University of Houston System;

(9)  The University of Texas M. D. Anderson Cancer Center;

(10)  The University of Texas Medical Branch at Galveston; and

(11)  The University of Texas Health Science Center at Houston.

Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11, 2001.



Section  488.004.  Nonprofit Corporation.

The coalition may establish a nonprofit corporation to develop and operate the park.

Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11, 2001.



Section  488.005.  Land And Infrastructure.

The park may be developed on land owned by the State of Texas and made available for that purpose, as well as on land acquired by the state, the nonprofit corporation, or a member institution for purposes of the park.

Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11, 2001.



Section  488.006.  Investment; Funding.

(a) The park shall be developed as a public-private partnership in which both public institutions and private entities contribute to the development, funding, and operation of the park.

(b)  Leases producing revenue to state institutions participating in the development of the park shall be at market rates.

Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11, 2001.


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