HB 2736-S - DIGEST

(DIGEST AS ENACTED)

     Declares that it is the policy of the state to encourage basic and applied scientific research by the state's research universities.

     Finds that state of the art facilities for research by research universities serve to attract the most capable students and faculty to the state and research grants from public and private institutions throughout the world.  The application of such research stimulates investment and employment within Washington and the strengthening of our tax base.

     Finds that, in order to finance research facilities, the state's research universities often use federal, state, private, and university resources and therefore require the authority to enter into financing arrangements that leverage funding sources and reduce the costs of such complex facilities to the state.

     Provides that, before January 31st of each year, the University of Washington and Washington State University must report to the ways and means committee of the senate and the capital budget committee of the house of representatives on the financing arrangements entered into under the authority of this act.