Thursday, February 28, 2008

Bioscience Promotion Bill Heads to Senate

The House gave final passage Wednesday to a bill aimed at promoting the state's biotechnology sector.

HB 1001 would open the door to state funding of early stage biotech research. The bill proposes to provide "bioscience discovery evaluation" grants by means of lottery proceeds.

The maximum grant amount would be $250,000, depending on the applicant's particular circumstances.

The bill was approved on a 52-13 vote, with 12 Republicans and Democrat Paul Weissman of Louisville voting "no."