The Andy Hill Cancer Research Endowment (endowment) makes grants to public and private entities, including commercial entities, for the promotion of cancer research. Grant funding comes from both private and public sources. The endowment evaluates requests for funding based on a variety of factors, including:
The endowment is governed by a 13-member board and administered by a private, non-profit corporation with expertise in conducting or managing research granting activities, funds, or organizations.
The endowment fund match transfer account holds funds to support the endowment program and its administrative costs.
On July 1, 2022, $1 billion from the general fund is appropriated to the endowment fund match transfer account. The purpose of the act is to provide sustained investment in cancer research and to make the endowment program more robust. The board may expend the funds over a ten-year period or faster if the board determines it is a more effective method to meet the purposes of this act. The board must develop a detailed expenditure plan for this funding. Until the moneys have been exhausted, the board shall update the Legislature on a biennial basis to provide a detailed description of current and anticipated research projects being funded from the appropriation.
PRO: The pandemic has shown a disparity in access to cancer screening and care. The funding in the bill will help close that gap and will attract new research into the state which will create jobs. Cancer is the number one cause of death by disease in children and there is a need for a significant increase in research funding for promising projects.