FINAL BILL REPORT

E2SSB 6015

C 425 L 09

Synopsis as Enacted

Brief Description: Directing the department of community, trade, and economic development to review commercialization and innovation in the life sciences and technology sectors.

Sponsors: Senate Committee on Ways & Means (originally sponsored by Senators Murray, Delvin and Marr).

Senate Committee on Economic Development, Trade & Innovation

Senate Committee on Ways & Means

House Committee on Community & Economic Development & Trade

House Committee on General Government Appropriations

Background: Washington has a number of programs and entities directed at the creation of new technologies and the encouragement of commercialization, both in the life sciences and general technology. Examples include the Washington Technology Center, the Life Sciences Discovery Fund, high tech research and development tax credits, and UW TechTransfer.

Multiple agencies also have jurisdiction over parts of innovation and commercialization, including the Department of Community, Trade, and Economic Development (CTED); the Higher Education Coordinating Board; the Workforce Training Board; the Economic Development Commission (EDC); and the Department of Revenue. Advocates have suggested that these agencies may inadvertently work at cross purposes.

Summary: CTED is required to report to the Legislature and the Governor by December 1, 2009, on methods Washington can use to encourage and support innovation in life sciences and information technology. CTED must look at ways to increase the amount of regional capital for early investments, examine state laws regarding these technologies, evaluate Washington's technology-based economic development efforts, and review the status of technology transfer efforts at research universities.

CTED must provide a draft report to the EDC, which must prepare written observations about the draft report and its relation to the overall strategies proposed by the EDC.

Votes on Final Passage: