FISCAL NOTE

Senate Bill 298 as introduced amends several provisions of the Alabama Innovation Act to: (1) provide that an Alabama research entity must create a partnership with a private sector applicant to receive grant funds; (2) establish a competitive scoring system for the awarding of future research and development grants; and (3) provide $1 of grant funds for each non-state dollar for a faculty and student intern partnership program. This bill will not otherwise affect state or local funding.