Washington State House of Representatives Office of Program Research | BILL ANALYSIS |
Finance Committee |
2SSB 6675
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
Brief Description: Creating the Washington global health technologies and product development competitiveness program and allowing certain tax credits for program contributions.
Sponsors: Senate Committee on Ways & Means (originally sponsored by Senators Murray, Pflug, Shin, Kastama, Kohl-Welles and Kilmer).
Brief Summary of Second Substitute Bill |
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Hearing Date: 3/18/10
Staff: Jeffrey Mitchell (786-7139).
Background:
Washington's global health care sector is responsible for approximately 50,000 jobs and over $1.7 billion in salaries in the state. It also generates $4.1 billion in business activity. The Legislative Committee on Economic Development and International Relations conducted a hearing in 2009 on the economic impact of the sector. It was suggested at the hearing that there was tremendous growth potential for the sector and that incentives for the sector and for commercialization activities would help the sector expand and create jobs.
Summary of Bill:
The Washington Global Health Technologies and Product Development Competitiveness Program is created, to be administered by a board of directors appointed by the Governor. The board is to contract with the Department of Health for management services. The board's duties include soliciting funds from businesses, foundations, and the federal government, and making grants for development of global health technologies and products.
Grant award recipients must conduct their research, development, and production activities within Washington, except for clinical trials that must be carried out in developing countries. The board may provide funding for recruitment and employment of global health researchers at state research institutions upon the recommendation of the state Economic Development Commission.
The Washington Global Health Technologies and Product Development Account (WGHTPD account) is created. The WGHTPD account will be funded with monies from grantors or donors who require deposition of funds in a state account and will be used to support the grants for global health commercialization efforts. No state or local government funds may be deposited into the WGHTPD account. For all other funds received, the board will administer a separate account which will be used to support the operations of the grants program.
Appropriation: None.
Fiscal Note: Requested on March 15, 2010.
Effective Date: The bill takes effect 90 days after adjournment of the session in which the bill is passed.