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HB3529 Engrossed |
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LRB094 08237 RLC 38424 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Technology Advancement and Development Act |
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| is amended by changing Section 2002 as follows:
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| (20 ILCS 700/2002) (from Ch. 127, par. 3702-2)
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| Sec. 2002. Grant purposes.
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| (a) Grants authorized under this Article
shall be awarded |
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| only for the following purposes: (i) applied innovation
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| research that provides initial grant funding to help serve |
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| critical research
and development projects to respond
to
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| unique, advanced technology projects and which foster the |
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| development of
Illinois' economy through
the advancement of the |
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| State's economic, scientific, and technological
assets, or
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| which are recognized as technology programs of exemplary and |
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| outstanding
research in the field of science and technology; or |
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| to assist
eligible
applicants in the State apply for, or |
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| qualify for and leverage, federal
funds awarded for advanced |
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| technology projects concerning research and
development, |
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| business innovation research or technical development, or the
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| transfer of useful technology to the private sector;
(ii) |
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| university and industry partnerships that create high-skill |
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| employment
opportunities and internship
activities in the |
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| communities that enable graduates and faculty to stay in
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| Illinois and
university and industry initiatives that |
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| strengthen the relationship between
industry and academia in
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| Illinois so that applied university research is responsive to |
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| the needs of the
various state industries
and industry |
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| clusters;
(iii)
centers of excellence in technology |
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| commercialization, innovation evaluation,
and intellectual
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| property management that encourages the growth of new |
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| enterprises based on
technologies
developed at Illinois |