Oklahoma § 74-5060.13 - Challenge funding of research

§ 74-5060.13. Challenge funding of research

A. The Center may use monies from the Research Support

Revolving Fund for the purposes of this act by awarding competitive

funds, through professional service contracts or otherwise, to

institutions of higher education, nonprofit research foundations and

private enterprises of special importance to the Oklahoma economy.

B. The Center is authorized to provide challenge funding to

Oklahoma higher education institutions for the purpose of assisting

such institutions to raise funds in research areas where they have

achieved or have true promise of attaining a standard of excellence

as recognized by national and international peers. The Center may

transfer to the Oklahoma State Regents for Higher Education the

endowed chairs established pursuant to paragraph 1 of subsection D

of this section, with any funds associated with such endowed chairs,

for the purposes specified in Section 3952 of Title 70 of the

Oklahoma Statutes.

Oklahoma Statutes - Title 74. State Government

C. Any higher education institution which desires to obtain

such challenge funding authorized in subsection B of this section

shall submit an application to the Oklahoma Center for the

Advancement of Science and Technology. Such application shall

specify the total amount of funds such institution will provide to

meet the requirements of the challenge funding and the research

merits and economic benefits of the proposals as well as any other

information which the Center may deem necessary in order to evaluate

the application; provided, however, such institution shall not use

state-appropriated funds for the purpose of meeting the requirements

of such challenge funding.

D. Funding shall be awarded on the following basis:

1. For endowed chair professional service contracts or grants,

the Center shall match Two Dollars ($2.00) from the More Oklahoma

Science and Technology (MOST) Eminent Scholars and Research

Equipment Account for every One Dollar ($1.00) of interest income

generated by the endowment for such chair; however, the amount of a

state professional service contract or grant for any endowed chair

shall not be less than Fifty Thousand Dollars ($50,000.00) for any

one fiscal year. Funding awarded to match such interest shall be

limited to endowed chairs created after May 27, 1986; and

2. For research professional service contracts or grants, the

Center shall match One Dollar ($1.00) from the More Oklahoma Science

and Technology (MOST) Eminent Scholars and Research Equipment

Account for every One Dollar ($1.00) of monies that will be raised

by such institution for matching purposes. The minimum amount of a

state professional service contract or grant for any research

project shall not be less than Ten Thousand Dollars ($10,000.00) and

shall be limited to acquiring research equipment. No applicant for

a professional service contract or grant for research equipment

under this paragraph shall be required to obtain the mandatory

matching funding prior to application to the Center for funding.

Applicants selected by the Center for funding shall have up to

twelve (12) months from the date of selection to obtain the required

matching funds. A selected applicant may request an extension of

time not to exceed three (3) months to obtain the necessary matching

funds. The period for obtaining matching funds shall not exceed a

total of fifteen (15) months from the date of selection.

E. Persons selected to hold such endowed chairs or to receive

funding for research as provided for in this section shall be

selected pursuant to the procedures of the higher education

institution which has been awarded such funding.

F. Approval of any challenge funding proposal shall be based

upon the proposal submitted, external peer review and such

additional investigation as the staff of the Center shall make.

Added by Laws 1987, c. 222, § 28, operative July 1, 1987. Amended

by Laws 1989, c. 312, § 8, operative July 1, 1989; Laws 1992, c.

Oklahoma Statutes - Title 74. State Government

324, § 27, eff. July 1, 1992; Laws 1995, c. 279, § 4, eff. July 1,

1995.