The fourth installment to Walkin' the Tech Talkin' Gov Walk (see the April 17 , May 8 and June 5 issues of the Digest) covers the outcomes of the 2006 legislative sessions within Colorado, Iowa, Minnesota and Vermont. Following is a synopsis of bills passed and budget appropriations relevant to tech-based economic development and the priorities outlined in respective gubernatorial addresses at the beginning of 2006.
Colorado
Gov. Bill Owens signed into law a $26.5 million economic development package, which includes investments in bioscience and job creation. While the bulk of the funds are slated for increasing tourism ($19 million), two of the bills include funds aimed at increasing science and technology research and creating better jobs in the state.
HB 06-1360 provides $2 million in one-time funding for the advancement of new bioscience discoveries at Colorado research institutions. The legislation creates the Bioscience Discovery Evaluation Grant Program within the Colorado Office of Economic Development to improve and expand the evaluation of new bioscience discoveries with the intent to commercialize new products and services. Grants are to be distributed to technology transfer offices in amounts of up to $150,000 per bioscience research project.
Under HB 06-1017, the Economic Development Commission has the authority to offer financial incentives to any business that creates a minimum of five new jobs in rural areas and 10 in urban areas. Jobs must be created and maintained for at least one year before the company can receive the incentives. The legislation allocates $3 million annually to the program, of which 15 percent is earmarked for job creation within Enterprize Zones outside the Metro Denver area.
Gov. Owens also signed a bill that provides funding to a new Colorado renewable energy collaboration. HB 1322 creates the Colorado Renewable Energy Authority and allocates up to $2 million per year for three years, beginning in fiscal year 2007. Under the legislation, the Authority must use the allocation of state matching funds to support one or more proposals of a consortium consisting of the Colorado School of Mines, Colorado State University, University of Colorado, and the National Renewable Energy Laboratory for federal energy research funding and energy-related research funding from federal agencies and other public and private entities.
Iowa
The General Assembly approved Gov. Tom Vilsack's request of $50 million for the Iowa Values Fund within the Department of Economic Development (refer to HF 2459). Established in 2003, the Iowa Values Fund supports economic development opportunities in the specific areas of life sciences, software and information technology, advanced manufacturing, and value added agriculture (see the June 6, 2003 issue of the Digest). The governor signed the budget bills on June 1. They do not include his recommendation of $2.3 million for the Bioscience Alliance and $250,000 for the creation of a Lean Manufacturing Institute to provide training for manufacturing firms.
The budget includes, however, investments from various funds for FY 07 to the State Board of Regents to implement infrastructure-related recommendations (refer to HF 2782) proposed by the governor in his Condition-of-the-State Address (see the Jan. 16 issue of the Digest).
Another bill that passed during the session is SF 2272, which requires high school students to take three years of math and science and takes effect with the graduating class of 2010-11.
Minnesota
The Legislature passed and Gov. Tim Pawlenty signed HF 2959, authorizing nearly $1 billion in general obligation bonds to finance more than 100 capital projects. The final bonding bill includes $307 million for renovation and construction of buildings at the University of Minnesota (UM) and Minnesota State College and University campuses. According to the Minnesota High Tech Association, funding for four UM building projects include: