S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8200

                            I N  S E N A T E

                           September 28, 2016
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the public authorities law, in relation to creating  the
  New York state center for the expansion of nanoscale science and engi-
  neering

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Statement of  legislative  findings  and  declaration.  The
legislature  hereby recognizes that the continued growth and development
of the nanotechnology industry is of vital importance  to  the  economic
well-being  of  the  state and its citizens. The State University of New
York's (SUNY) Polytechnic Institute (SUNY Polytechnic) is an  innovative
global   education,  research,  development  and  technology  deployment
resource that has attracted more than $43 billion in  high-tech  invest-
ments.  Its  location enables it to play a significant role in the revi-
talization of upstate New York.
  The legislature also finds that strengthening the governance  of  this
innovative  hub would further serve the economic interest of the upstate
New York region and the state as a whole.  Currently  SUNY  Polytechnic,
including  its research and development initiatives, are overseen by the
17-member SUNY Board of Trustees and a council of 10 members. SUNY Poly-
technic, however, is unlike any other state-operated institution because
of its niche focus on high technology education  and  commercialization.
Therefore,  the  legislature  finds  that SUNY Polytechnic would benefit
from the establishment of a quasi-governmental entity that would utilize
its flexible structure to focus on fostering the growth of nanotechnolo-
gy research and development.
  S 2. Article 10-A of the public authorities law is amended by adding a
new title 3 to read as follows:
                                 TITLE 3
    NEW YORK STATE CENTER FOR THE EXPANSION OF NANOSCALE SCIENCE AND
                               ENGINEERING
SECTION 3170. DEFINITIONS.
        3171. CREATION; GOVERNANCE; BOARD OF DIRECTORS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD14201-02-6

S. 8200                             2

        3172. PURPOSE; POWERS; DUTIES.
        3173. CHIEF EXECUTIVE OFFICER AND SENIOR MANAGEMENT.
        3174. REGIONAL PARTNERSHIPS.
        3175. CONFLICTS OF INTEREST.
        3176. CONTRIBUTIONS TO THE CENTER.
        3177. EXEMPTION FROM TAXATION.
        3178. AUDIT AND ANNUAL REPORT.
  S 3170. DEFINITIONS. AS USED IN THIS TITLE:
  1.  "BOARD"  OR  "BOARD OF DIRECTORS" SHALL MEAN THE NINE MEMBER BOARD
CREATED PURSUANT TO  SECTION  THIRTY-ONE  HUNDRED  SEVENTY-ONE  OF  THIS
TITLE.
  2.  "CENTER"  OR  "CENTER  FOR  THE EXPANSION OF NANOSCALE SCIENCE AND
ENGINEERING", SHALL MEAN THE ENTITY CREATED PURSUANT TO SECTION  THIRTY-
ONE HUNDRED SEVENTY-ONE OF THIS TITLE.
  3.  "CEO" SHALL MEAN THE CHIEF EXECUTIVE OFFICER APPOINTED PURSUANT TO
SECTION THIRTY-ONE HUNDRED SEVENTY-THREE OF THIS TITLE.
  4. "SUNY POLYTECHNIC" SHALL MEAN THE  STATE  UNIVERSITY  OF  NEW  YORK
POLYTECHNIC INSTITUTE.
  S  3171.  CREATION;  GOVERNANCE;  BOARD  OF DIRECTORS. 1. CREATION AND
GOVERNANCE. THERE IS HEREBY CREATED WITHIN THIS TITLE THE NEW YORK STATE
CENTER FOR THE EXPANSION  OF  NANOSCALE  SCIENCE  AND  ENGINEERING.  THE
CENTER  SHALL  BE GOVERNED AND ALL OF ITS POWERS EXERCISED BY A BOARD OF
DIRECTORS, WHICH SHALL CONSIST OF NINE VOTING MEMBERS.
  2. BOARD OF DIRECTORS. THE BOARD SHALL BE APPOINTED AS  FOLLOWS:  FIVE
DIRECTORS  SHALL  BE APPOINTED BY THE GOVERNOR, ONE OF WHOM SHALL BE THE
CHIEF EXECUTIVE OFFICER OF SUNY POLYTECHNIC, ONE SHALL BE  APPOINTED  BY
THE  TEMPORARY  PRESIDENT  OF  THE SENATE, ONE SHALL BE APPOINTED BY THE
SPEAKER OF THE ASSEMBLY, ONE SHALL BE APPOINTED BY THE  MINORITY  LEADER
OF  THE  SENATE AND ONE SHALL BE APPOINTED BY THE MINORITY LEADER OF THE
ASSEMBLY. OF THE NINE MEMBERS APPOINTED, AT  LEAST  FOUR  MEMBERS  SHALL
HAVE  SIGNIFICANT  EXPERIENCE  AND  HAVE  DEMONSTRATED LEADERSHIP IN THE
PRIVATE SECTOR, INCLUDING, BUT NOT LIMITED TO, EXPERIENCE IN HIGH  TECH-
NOLOGY  AND/OR  NANOTECHNOLOGY AND VENTURE CAPITAL. AT LEAST TWO MEMBERS
SHALL HAVE SIGNIFICANT EXPERIENCE IN ACADEMIA  AND  RESEARCH,  INCLUDING
TEACHING  AND RESEARCH IN THE FOLLOWING FIELDS: NANOSCIENCE, NANOBIOSCI-
ENCE, NANOENGINEERING OR NANOECONOMICS. AT LEAST ONE MEMBER  SHALL  HAVE
SIGNIFICANT EXPERIENCE AND LEADERSHIP IN GOVERNMENT, PARTICULARLY IN THE
AREA OF ECONOMIC DEVELOPMENT. THE REMAINING TWO MEMBERS SHALL HAVE EXPE-
RIENCE  IN  THE  PRIVATE  SECTOR, ACADEMIA, OR GOVERNMENT, PROVIDED THAT
BOTH MEMBERS SHALL NOT HAVE EXPERIENCE IN THE SAME SECTOR. THE CHAIR  OF
THE  BOARD  SHALL  BE  APPOINTED  BY THE GOVERNOR FROM AMONG THE PRIVATE
SECTOR MEMBERS, UPON THE ADVICE AND CONSENT OF  THE  SENATE.  ALL  OTHER
OFFICERS  OF  THE  BOARD  SHALL  BE  ELECTED FROM AMONG ITS MEMBERS BY A
MAJORITY VOTE OF THE BOARD'S VOTING MEMBERS.
  3. MEETINGS OF THE BOARD. THE BOARD SHALL PROVIDE FOR THE  HOLDING  OF
REGULAR AND SPECIAL MEETINGS. A MAJORITY OF VOTING MEMBERS SHALL CONSTI-
TUTE  A  QUORUM FOR THE TRANSACTION OF ANY BUSINESS AND UNLESS A GREATER
NUMBER IS REQUIRED BY THE BY-LAWS OF THE CENTER, THE ACTS OF THE MAJORI-
TY OF THE VOTING MEMBERS PRESENT AT A MEETING AT WHICH QUORUM IS PRESENT
SHALL BE DEEMED TO BE ACTS OF THE BOARD.
  4. BY-LAWS. THE BOARD SHALL ADOPT BY-LAWS FOR THE FOUNDATION  AND  MAY
APPOINT  SUCH  OFFICERS  AND EMPLOYEES AS IT DEEMS NECESSARY AND MAY FIX
THEIR COMPENSATION AND PRESCRIBE THEIR DUTIES.
  5. COMPENSATION. BOARD MEMBERS SHALL RECEIVE NO COMPENSATION FOR THEIR
SERVICES BUT SHALL BE REIMBURSED FOR THEIR EXPENSES ACTUALLY AND  NECES-
SARILY  INCURRED  BY  THEM IN THE PERFORMANCE OF THEIR DUTIES UNDER THIS

S. 8200                             3

TITLE. NO BOARD MEMBER SHALL BE DISQUALIFIED  FROM  HOLDING  ANY  PUBLIC
EMPLOYMENT, NOR SHALL HE OR SHE FORFEIT ANY SUCH EMPLOYMENT BY REASON OF
THEIR APPOINTMENT HEREUNDER NOTWITHSTANDING THE PROVISIONS OF ANY GENER-
AL, SPECIAL OR LOCAL LAW, ORDINANCE OR CITY CHARTER.
  6.  RULES  AND REGULATIONS. THE CENTER SHALL PROMULGATE SUCH RULES AND
REGULATIONS AS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS TITLE.
  S 3172. PURPOSE; POWERS; DUTIES. 1. PURPOSE. THE CENTER IS CREATED  TO
FULFILL  THE  PUBLIC  PURPOSES  OF  FURTHERING JOB CREATION AND ECONOMIC
GROWTH AND ADVANCES IN THE FIELD OF NANOTECHNOLOGY AND TO FACILITATE THE
COMMERCIALIZATION OF NANOSCIENTIFIC INNOVATIONS IN THE STATE. THE CENTER
IS AUTHORIZED AND DIRECTED TO PREPARE A STRATEGIC PLAN AND  PROVIDE  FOR
THE  IMPLEMENTATION  OF  PROGRAMS  TO: (A) WORK WITH SUNY POLYTECHNIC TO
FURTHER ENCOURAGE CUTTING-EDGE ACADEMIC RESEARCH IN THE FIELD  OF  NANO-
TECHNOLOGY;  (B)  FACILITATE  JOB  GROWTH  AND BUSINESS EXPANSION IN THE
FIELD OF NANOTECHNOLOGY; AND (C) MANAGE AND SUPPORT THE  DEVELOPMENT  OF
PARTNERSHIPS  AMONG ACADEMIA, GOVERNMENT AND INDUSTRY TO FURTHER ADVANCE
THE FIELD OF NANOTECHNOLOGY IN THE STATE AND ITS VARIOUS REGIONS.
  2. POWERS. THE CENTER SHALL HAVE THE POWER: (A) TO SUE  AND  BE  SUED;
(B)  TO  HAVE A SEAL AND ALTER THE SAME AT ITS PLEASURE; (C) TO ACQUIRE,
HOLD AND DISPOSE OF PERSONAL PROPERTY FOR ITS CORPORATE PURPOSES; (D) TO
ENTER INTO CONTRACTS WITH THE STATE, POLITICAL SUBDIVISIONS OR ANY AGEN-
CY OR INSTRUMENTALITY THEREOF, OR ANY PERSON, FIRM OR  CORPORATION;  (E)
TO  ACCEPT  GIFTS,  FUNDS,  PROPERTY  OR SERVICES FROM PUBLIC OR PRIVATE
SOURCES IN FURTHERANCE OF ITS CORPORATE PURPOSES; (F)  TO  ADOPT,  AMEND
AND REPEAL BY-LAWS FOR THE MANAGEMENT AND REGULATION OF ITS AFFAIRS; AND
(G)  TO DO ANY AND ALL OTHER THINGS NECESSARY OR CONVENIENT TO CARRY OUT
ITS PURPOSES AND EFFECTIVELY IMPLEMENT THE  PROVISIONS  OF  THIS  TITLE,
PROVIDED  HOWEVER THAT THE CENTER SHALL HAVE NO AUTHORITY TO ISSUE BONDS
OR NOTES.
  3. DUTIES. THE CENTER SHALL HAVE ALL OF THE FOLLOWING DUTIES:  (A)  TO
ADOPT BY-LAWS, GUIDELINES AND REGULATIONS AS IT DEEMS NECESSARY TO OVER-
SEE  THE  PROGRAMS  AS  DEFINED  IN  THIS  TITLE; (B) TO CONTRACT AND TO
EXECUTE INSTRUMENTS NECESSARY OR CONVENIENT FOR THE  CONDUCTING  OF  ITS
BUSINESS; (C) TO ACCEPT FUNDS FROM ALL AVAILABLE SOURCES; (D) TO ENCOUR-
AGE  AND  COORDINATE PROGRAMS AND INVESTMENTS WHICH ADVANCE THE COMPETI-
TIVENESS OF NEW YORK  BUSINESSES  IN  THE  GLOBAL  ECONOMY  THROUGH  THE
PROMOTION OF NANOTECHNOLOGY, INNOVATION AND COMMERCIALIZATION THROUGHOUT
THE  STATE'S  REGIONS;  (E)  TO  DEVELOP POLICIES AND IMPLEMENT PROGRAMS
WHICH PROMOTE AN ENTREPRENEURIAL BUSINESS ENVIRONMENT, ADVANCE NANOTECH-
NOLOGY AND ENCOURAGE THE DEVELOPMENT OF AN  INNOVATIVE  AND  COMPETITIVE
WORKFORCE;  (F)  TO COORDINATE AND ADVANCE STATEWIDE AND REGIONAL INITI-
ATIVES TO MARKET NANOTECHNOLOGY BUSINESSES IN THE  STATE,  AND  RESEARCH
ACTIVITIES RELATED TO ECONOMIC DEVELOPMENT AND OPPORTUNITIES AT ACADEMIC
AND  RESEARCH  INSTITUTIONS AND COMMUNITY-BASED AND ECONOMIC DEVELOPMENT
INITIATIVES WITHIN THE STATE  AND  AT  THE  NATIONAL  AND  INTERNATIONAL
LEVEL;  (G)  TO  ASSIST  EFFORTS TO IDENTIFY AND PURSUE FUNDING OPPORTU-
NITIES FROM THE FEDERAL GOVERNMENT  AND  OTHER  SOURCES  AND  COORDINATE
PROGRAMS  TO PROVIDE FUNDING TO LEVERAGE SUCH GRANTS AND AWARDS; AND (H)
TO ESTABLISH AND REQUIRE AUDITS, DISCLOSURES AND OTHER REVIEW PROCEDURES
FOR ALL ACTIVITIES FUNDED BY THE CENTER.
  S 3173. CHIEF EXECUTIVE OFFICER AND SENIOR MANAGEMENT.  THE  DIRECTORS
SHALL  APPOINT  A CHIEF EXECUTIVE OFFICER AND SENIOR MANAGEMENT TEAM AND
PRESCRIBE THE DUTIES AND COMPENSATION OF THE CEO AND SUCH MEMBERS OF THE
SENIOR MANAGEMENT TEAM. THE CEO SHALL BE  RESPONSIBLE  FOR,  SUBJECT  TO
BOARD OVERSIGHT AND APPROVAL, SETTING THE STRATEGIC VISION OF THE CENTER
AND  PURSUANT TO THIS SECTION, FACILITATING STATEWIDE AND REGIONAL PART-

S. 8200                             4

NERSHIPS, AS WELL AS ALL  OTHER  STRATEGIC  INITIATIVES  IMPLEMENTED  IN
FURTHERANCE  OF  THE  PURPOSE  OF THE CENTER. THE APPOINTMENT OF THE CEO
SHALL BE MADE NO LATER THAN SIXTY DAYS AFTER THE FIRST OFFICIAL  MEETING
OF THE BOARD.
  S  3174.  REGIONAL PARTNERSHIPS. 1. ESTABLISHMENT OF PARTNERSHIPS. THE
CEO SHALL SEEK TO FACILITATE THE ESTABLISHMENT OF PARTNERSHIPS IN  VARI-
OUS  REGIONS  OF THE STATE IN FURTHERANCE OF THE PURPOSES OF THE CENTER.
THE PURPOSE OF SUCH PARTNERSHIPS SHALL BE TO  ADVANCE  ECONOMIC  GROWTH,
BUSINESS  CREATION AND EXPANSION, JOB OPPORTUNITIES AND WORKFORCE DEVEL-
OPMENT IN THE STATE. THE CEO IS AUTHORIZED, WITHIN FUNDS  AVAILABLE,  TO
PROVIDE REGIONAL ECONOMIC ASSISTANCE TO CERTIFIED PARTNERSHIPS.
  2.  CERTIFICATION OF PARTNERSHIPS. THE CENTER SHALL BE RESPONSIBLE FOR
THE CERTIFICATION OF ANY AND ALL  REGIONAL  PARTNERSHIPS.  SUCH  CERTIF-
ICATION  SHALL  LAST  FOR A PERIOD AS DETERMINED BY THE CENTER. PARTNER-
SHIPS SHALL BE COMPRISED OF LOCAL  ECONOMIC  DEVELOPMENT  ORGANIZATIONS,
PRIVATE  INDUSTRY,  AND  TO THE EXTENT ITS FACILITIES ARE LOCATED IN THE
REGION, SUNY POLYTECHNIC. IN REGIONS OF THE STATE WHERE SUNY POLYTECHNIC
FACILITIES ARE NOT PRESENT, THE CENTER SHALL SEEK  TO  CERTIFY  PARTNER-
SHIPS  WITH  SUNY POLYTECHNIC, WHEREBY THE PRESENCE OF SUCH PARTNERSHIPS
CAN ENHANCE ECONOMIC GROWTH IN THE REGION.  BEFORE  ANY  PARTNERSHIP  IS
CERTIFIED BY THE CENTER, THE CENTER SHALL APPROVE WRITTEN GUIDELINES FOR
THE  PARTNERSHIP,  WHICH  SHALL  REQUIRE THE SUBMISSION OF A PARTNERSHIP
PLAN PURSUANT TO SUBDIVISION THREE OF THIS SECTION.
  3. PARTNERSHIP PLANS. EACH PARTNERSHIP SEEKING CERTIFICATION  PURSUANT
TO  SUBDIVISION  TWO  OF  THIS SECTION SHALL SUBMIT A PLAN TO THE CENTER
WITHIN THIRTY DAYS OF THE ISSUANCE OF A REQUEST FOR PROPOSALS. SUCH PLAN
SHALL INCLUDE SUCH DETAIL AS REQUESTED BY THE CENTER. FOR THOSE PARTNER-
SHIPS IN REGIONS WHERE A SUNY POLYTECHNIC FACILITY IS NOT  PRESENT,  THE
PLAN  SHALL  INCLUDE AN ANALYSIS OF HOW THE REGION MIGHT BENEFIT ECONOM-
ICALLY FROM THE CONSTRUCTION OF A SUNY POLYTECHNIC FACILITY, AS WELL  AS
THE PROJECTED COSTS OF CONSTRUCTION.
  4.  CONTINUATION  OF  CERTIFICATION.  (A) THE CENTER SHALL ESTABLISH A
PROCESS BY WHICH EACH PARTNERSHIP MAY  CONTINUE  ITS  CERTIFICATION.  TO
CONTINUE  TO  BE  CERTIFIED, A PARTNERSHIP SHALL PERFORM SEVERAL DUTIES,
WHICH SHALL INCLUDE, BUT NOT BE LIMITED TO:
  (I) SERVING AS THE  STATE'S  KEY  REGIONAL  PARTNERS  IN  IDENTIFYING,
DEVELOPING,  ADAPTING  AND  IMPLEMENTING  NANOTECHNOLOGY  AND INNOVATIVE
STRATEGIES TO ENABLE THE GROWTH  AND  COMPETITIVENESS  OF  EXISTING  AND
EMERGING  COMPANIES THROUGH PROCESS IMPROVEMENT, TECHNOLOGY DEVELOPMENT,
COMMERCIALIZATION AND PRODUCTION;
  (II) ACTING AS REGIONAL FACILITATORS FOR COLLABORATIONS, PROGRAMS  AND
INITIATIVES BY AND AMONG THE CENTER, NANOTECHNOLOGY ENTERPRISES, ECONOM-
IC DEVELOPMENT ORGANIZATIONS, THE CORPORATE COMMUNITY, ACADEMIC RESEARCH
INSTITUTIONS  (INCLUDING  BUT  NOT LIMITED TO SUNY POLYTECHNIC), GOVERN-
MENT, WORKFORCE DEVELOPMENT ORGANIZATIONS, AND OTHER  INTERESTS  WORKING
COLLECTIVELY  TO ADVANCE ECONOMIC GROWTH. EACH PARTNERSHIP SHOULD STRESS
THE USE OF INFORMATION TECHNOLOGY AS A  NECESSARY  MEANS  TO  LINK  SUCH
ENTITIES TOGETHER IN A COHESIVE AND EFFECTIVE MANNER;
  (III)  DIRECTLY  PROVIDING  AND  SERVING  AS  A CONDUIT TO CAPITAL FOR
EXISTING AND EMERGING COMPANIES INVOLVED IN THE DEVELOPMENT, COMMERCIAL-
IZATION AND PRODUCTION OF INNOVATIVE PRODUCTS AND PROCESSES;
  (IV) DEVELOPING AND PROVIDING SUPPORT TO BUSINESS  INCUBATION  FACILI-
TIES  AND  ENCOURAGING THE DEVELOPMENT OF TECHNOLOGY BUSINESS IN OR NEAR
RESEARCH ACADEMIC INSTITUTIONS;

S. 8200                             5

  (B) EACH PARTNERSHIP SHALL ENCOURAGE BUSINESS MENTORING  OPPORTUNITIES
TO  EMERGING  COMPANIES IN ORDER TO PROVIDE RESOURCES AND INDUSTRY KNOW-
LEDGE TO CREATE OPPORTUNITIES FOR GROWTH.
  5.  APPROPRIATIONS.  ALL  STATE FUNDING ASSOCIATED WITH THE OPERATIONS
AND PROGRAMS OF THE REGIONAL PARTNERSHIPS SHALL BE APPROPRIATED  TO  THE
CENTER  FOR  ALLOCATION  TO  EACH OF THE PARTNERSHIPS AND SUCH APPROPRI-
ATIONS SHALL BE SEPARATE AND DISTINCT FROM OTHER APPROPRIATIONS FOR  THE
CENTER.  ALL  ALLOCATIONS AND DISBURSEMENTS OF THE CENTER FUNDS SHALL BE
AUTHORIZED AND DISBURSED BY A PARTNERSHIP, PURSUANT TO RULES  AND  REGU-
LATIONS ESTABLISHED BY THE CENTER.
  6.  REPORTING  REQUIREMENTS. EACH PARTNERSHIP SHALL ANNUALLY REPORT TO
THE CENTER ON ITS ACTIVITIES. SUCH REPORT SHALL CONSIST  OF  INFORMATION
AS REQUESTED BY THE CENTER.
  S 3175. CONFLICTS OF INTEREST. ELIGIBILITY FOR APPOINTMENT AS A DIREC-
TOR,  OFFICER  OR  EMPLOYEE  OF  THE  CENTER  SHALL  BE  SUBJECT  TO THE
PROVISIONS OF SECTION TWENTY-EIGHT HUNDRED TWENTY-FIVE OF THIS  CHAPTER.
IN  ADDITION TO THE REQUIREMENTS OF SUCH SECTION, IF ANY DIRECTOR, OFFI-
CER OR EMPLOYEE OF THE CENTER SHALL HAVE AN INTEREST, EITHER  DIRECT  OR
INDIRECT, IN ANY CONTRACT TO WHICH THE CENTER IS OR IS TO BE PARTY, SUCH
INTEREST  SHALL  BE  DISCLOSED TO THE CENTER IN WRITING AND SHALL BE SET
FORTH IN THE MINUTES OF THE CENTER. THE DIRECTOR,  OFFICER  OR  EMPLOYEE
HAVING SUCH INTEREST SHALL NOT PARTICIPATE IN ANY ACTION BY THE AUTHORI-
TY WITH RESPECT TO SUCH CONTRACT.
  S 3176. CONTRIBUTIONS TO THE CENTER. NOTWITHSTANDING THE PROVISIONS OF
ANY  GENERAL  OR  SPECIAL  LAW  OR  THE PROVISIONS OF ANY CERTIFICATE OF
INCORPORATIONS, CHARTER OR OTHER ARTICLES OF  ORGANIZATION,  ANY  CORPO-
RATION, ASSOCIATION OR PERSON IS HEREBY AUTHORIZED TO MAKE CONTRIBUTIONS
TO THE CENTER IN FURTHERANCE OF ITS PURPOSE AS STATED IN SUBDIVISION ONE
OF SECTION THIRTY-ONE HUNDRED SEVENTY-TWO OF THIS TITLE.
  S  3177.  EXEMPTION FROM TAXATION. THE PROPERTY, INCOME AND ACTIVITIES
OF THE CORPORATION SHALL BE EXEMPT FROM ALL TAXES, FEES AND ASSESSMENTS.
  S 3178. AUDIT AND ANNUAL REPORT. 1. AUDIT. THE ACCOUNTS OF THE  CENTER
SHALL  BE  SUBJECT  TO  THE SUPERVISION OF THE COMPTROLLER AND AN ANNUAL
AUDIT SHALL BE PERFORMED BY AN INDEPENDENT CERTIFIED  PUBLIC  ACCOUNTANT
SELECTED  BY  THE  BOARD  AND  SHALL  BE MADE AVAILABLE TO THE GOVERNOR,
LEGISLATURE AND GENERAL PUBLIC.
  2. ANNUAL REPORT. THE CENTER SHALL SUBMIT AN ANNUAL  REPORT  BY  APRIL
FIRST OF EACH YEAR TO THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY, AND THE
TEMPORARY PRESIDENT OF THE SENATE ON ITS OPERATIONS AND ACCOMPLISHMENTS,
INCLUDING  THE  ACCOMPLISHMENTS  OF ITS CERTIFIED REGIONAL PARTNERSHIPS.
SUCH REPORT SHALL PROVIDE, BUT NOT BE LIMITED  TO,  INFORMATION  ON  THE
ECONOMIC IMPACT OF THE CENTER AS MEASURED BY:
  (A) THE TOTAL NUMBER OF JOBS CREATED AND RETAINED, WHETHER DIRECTLY OR
INDIRECTLY,  THROUGH  FUNDING,  PROGRAMS  AND  SERVICES  PROVIDED BY THE
CENTER;
  (B) THE NUMBER OF START-UP BUSINESSES CREATED AND EXISTING  BUSINESSES
ASSISTED;
  (C)  THE  LEVERAGING  OF  NON-STATE FUNDS, PARTICULARLY PRIVATE FUNDS,
WHICH SHALL INCLUDE A QUANTIFICATION OF THE AMOUNT  OF  VENTURE  CAPITAL
INVESTED AS A RESULT OF THE CENTER'S STRATEGIC INITIATIVES; AND
  (D)  THE ACTUAL OR ANTICIPATED INVENTION, DEVELOPMENT OR REFINEMENT OF
NEW PRODUCTS AND PROCESSES WITH COMMERCIAL APPLICATION OF IMPORTANCE  TO
THE INDUSTRIES IN THE STATE.
  S  3.  This  act shall take effect on the ninetieth day after it shall
have become a law.