Innovation reinvestment - withholding - transfers - bioscience - clean technology - short title - legislative declaration - definitions - repeal

(1) This section shall be known and may be cited as the Colorado Bioscience and Clean Technology Innovation Reinvestment Act.

(2) (a) The general assembly hereby finds, determines, and declares that:

(I) Recent legislative initiatives to expand the bioscience and clean technology segments of the Colorado economy have been both economically successful and supportive of Colorado's higher education research institutions;

(II) Such initiatives have demonstrated the potential for establishing Colorado as a national leader in bioscience and clean technology;

(III) Colorado efforts have been recognized as best practices for economic development of these industry sectors;

(IV) Those efforts have also demonstrated the potential to expand the role of Colorado's higher education research institutions in these areas; and

(V) The partnerships created between higher education research institutions and industry through these initiatives provide a model for economic development.