Tex. Educ. Code Section 62.166
Winding up of Contracts and Awards in Connection with Texas Emerging Technology Fund


(a)

The governor’s university research initiative is the successor to the Texas emerging technology fund. Awards from the Texas emerging technology fund shall be wound up in accordance with this section and Section 490.104 (Management of Investment Portfolio; Winding up and Final Liquidation), Government Code, and contracts governing awards from that fund shall be wound up in accordance with this section.

(b)

If a contract governing an award from the Texas emerging technology fund provides for the distribution of royalties, revenue, or other financial benefits to the state, including royalties, revenue, or other financial benefits realized from the commercialization of intellectual or real property developed from an award from the fund, those royalties, revenues, or other financial benefits shall continue to be distributed in accordance with the terms of the contract unless the award recipient and the governor agree otherwise. Unless otherwise required by law, royalties, revenue, or other financial benefits accruing to the state under a contract described by this subsection, including any money returned or repaid to the state by an award recipient, shall be credited to the governor’s university research initiative fund.

(c)

If money awarded from the Texas emerging technology fund is encumbered by a contract executed before September 1, 2015, but has not been distributed before that date, the money shall be distributed from the governor’s university research initiative fund in accordance with the terms of the contract, unless the award recipient and the governor agree otherwise.

(d)

Except for an obligation regarding the distribution of royalties, revenue, or other financial benefits to the state as provided by Subsection (b), if money awarded from the Texas emerging technology fund under a contract executed before September 1, 2015, has been fully distributed and the entity that received the award has fully performed all specific actions under the terms of the contract governing the award, the entity is considered to have fully satisfied the entity’s obligations under the contract. The entity shall file with the office a final report showing the purposes for which the award money has been spent and, if award money remains unspent, the purposes for which the recipient will spend the remaining money.
Added by Acts 2015, 84th Leg., R.S., Ch. 323 (S.B. 632), Sec. 1, eff. September 1, 2015.
Added by Acts 2015, 84th Leg., R.S., Ch. 915 (H.B. 26), Sec. 1.01, eff. September 1, 2015.

Source: Section 62.166 — Winding up of Contracts and Awards in Connection with Texas Emerging Technology Fund, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­62.­htm#62.­166 (accessed Mar. 23, 2024).

62.001
Short Title
62.002
Purpose
62.003
Definitions
62.021
Allocations
62.022
Allocation Formula
62.023
Severability
62.024
Amount of Allocation Increased
62.027
Effect of Legislation
62.051
Definitions
62.052
Purpose
62.053
Fund
62.071
Definitions
62.072
Funding
62.073
Rules
62.091
Purpose
62.092
Definitions
62.093
Funding
62.095
Appropriation of Fund to Eligible Institutions
62.096
Verification
62.097
Use of Appropriated Amounts
62.098
Annual Report
62.121
Definitions
62.122
Program Administration
62.123
Matching Grants
62.124
Rules
62.131
Purpose
62.132
Definitions
62.133
Funding
62.134
Appropriation of Fund to Eligible Institutions
62.135
Verification
62.136
Use of Appropriated Amounts
62.137
Annual Report
62.141
Purpose
62.142
Definitions
62.143
Administration and Investment of Fund
62.144
Funding
62.145
Eligibility to Receive Distributions from Fund
62.148
Distribution of Appropriated Funds to Eligible Institutions
62.149
Use of Allocated Amounts
62.150
Institutional Endowment Reporting
62.151
Determination and Report of Amount of Distributions
62.152
Rules
62.161
Definitions
62.162
Administration of Initiative
62.163
Matching Grants to Recruit Distinguished Researchers
62.164
Grant Award Criteria
62.165
Governor’s University Research Initiative Fund
62.166
Winding up of Contracts and Awards in Connection with Texas Emerging Technology Fund
62.167
Confidentiality of Information Concerning Awards from Texas Emerging Technology Fund
62.168
Reporting Requirement
62.169
Advisory Board
62.181
Definitions
62.182
Purpose
62.183
Funding
62.0535
Initial Contribution
62.1335
Eligibility to Receive Distributions from Fund
62.1481
Permanent Endowment for Education and Research Base Funding
62.1482
Research Performance Funding

Accessed:
Mar. 23, 2024

§ 62.166’s source at texas​.gov