FISCAL NOTE

Senate Bill 298 as passed the Senate amends 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; (3) provide dollar-for-dollar grant funds for non-state matching funds for a faculty and student intern partnership program; and (4) revises how the maximum grant award amount is calculated. This bill will not otherwise affect state or local funding.