This section creates the Missouri Science and Innovation Reinvestment Fund and says what money can go into it and how it must be used.
*348.264. Science and innovation reinvestment fund established — source of funds — purpose. — There is hereby established in the state treasury a special fund to be known as the "Missouri Science and Innovation Reinvestment Fund", previously established as the Missouri technology investment fund in this section, which shall consist of all moneys which may be appropriated to it by the general assembly based on the applicable percentage of the amount by which science and innovation employees' gross wages for the year exceeds the base year gross wages pursuant to section 348.265, other funds appropriated to it by the general assembly, and also any gifts, contributions, grants or bequests received from federal, private or other sources. Money in the Missouri science and innovation reinvestment fund shall be used to carry out the provisions of sections 348.250 to 348.275. Moneys for business modernization programs, technology application programs, technology commercialization programs and technology development programs established pursuant to the provisions of sections 348.250 to 348.275 shall be available from appropriations made by the general assembly from the Missouri science and innovation reinvestment fund. Any moneys remaining in the Missouri science and innovation reinvestment fund at the end of any fiscal year shall not lapse to the general revenue fund, as provided in section 33.080, but shall remain in the Missouri science and innovation reinvestment fund. (L. 1994 H.B. 1248 & 1048, A.L. 1995 H.B. 414, A.L. 2011 1st Ex. Sess. S.B. 7) Contingent effective date, see § 348.280 *Revisor's Note: This section was declared unconstitutional in Missouri Roundtable for Life, Inc. v. State, 396 S.W.3d 348 (Mo.banc). (2013) Provisions of S.B. 7 from First Extraordinary Session in 2011 are unconstitutional; section B of act as codified in section 348.280 is a violation of the single subject requirement of Article III, Section 23 and remaining provisions of bill could not be severed. Missouri Roundtable for Life, Inc. v. State, 396 S.W.3d 348 (Mo.banc).