By: Hughes S.B. No. 2796               AN ACT   relating to the Cancer Prevention Research Institute's fiscal   responsibilities to the state of Texas.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 102.002, Health and Safety Code, is   amended to read as follows:          Sec. 102.002.  PURPOSES. The Cancer Prevention and Research   Institute of Texas is established to:                (1)  create and expedite innovation in the area of   cancer research and in enhancing the potential for a medical   or scientific breakthrough in the prevention of cancer and   cures for cancer;                (2)  attract, create, or expand research capabilities   of public or private institutions of higher education and   other public or private entities that will promote a   substantial increase in cancer research and in the creation   of high-quality new jobs in this state; and                (3)  develop and implement the Texas Cancer Plan.; and                (4)  provide a reasonable return on investment for the   state, with fiduciary responsibilities to the state of Texas,   with a non-binding target of at least 1% returns per year,   subject to the decision of the Institute's oversight   committee.          SECTION 2.  Section 102.0511(c), Health and Safety Code, is   amended to read as follows:                (c)  The chief executive officer shall hire:                      (1)  one chief scientific officer;                      (2)  one chief operating officer;                      (3)  one chief investment officer;                      (34) one chief product development officer; and                      (45) one chief prevention officer.          SECTION 3.  Section 102.251(a-2-C), Health and Safety Code,   is amended to read as follows:                (C)  to the extent possible, gives priority to   proposals that:                      (i)  could lead to immediate or long-term medical   and scientific breakthroughs in the area of cancer   prevention or cures for cancer;                      (ii)  strengthen and enhance fundamental science   in cancer research;                      (iii)  ensure a comprehensive coordinated   approach to cancer research;                      (iv)  to the best of the program integration   committee's knowledge, with consultation by the chief   investment officer and chief financial officer, is   expected to be financially viable and to enter the   market within 15 years of initial investment, provide a   complete return on initial investment for the state   within 20 years, as long as a grant is considered by the   program integration committee to be of extraordinary   scientific or medical value;                      (ivv)  are interdisciplinary or   interinstitutional;                      (vi)  address federal or other major research   sponsors' priorities in emerging scientific or   technology fields in the area of cancer prevention or   cures for cancer;                      (vii)  are matched with funds available by a   private or nonprofit entity and institution or   institutions of higher education;                      (viii)  are collaborative between any combination   of private and nonprofit entities, public or private   agencies or institutions in this state, and public or   private institutions outside this state;                      (viiiix)  have a demonstrable economic   development benefit to this state;                      (ix)  enhance research superiority at   institutions of higher education in this state by   creating new research superiority, attracting existing   research superiority from institutions not located in   this state and other research entities, or enhancing   existing research superiority by attracting from   outside this state additional researchers and   resources;                      (xi)  expedite innovation and product   development, attract, create, or expand private sector   entities that will drive a substantial increase in   high-quality jobs, and increase higher education   applied science or technology research capabilities;   and                      (xii)  address the goals of the Texas Cancer Plan;   and          SECTION 4.  Section 102.255 (c-3), Health and Safety Code,   is amended to read as follows:                (3)  specify:                      (A)  the amount of matching funds to be dedicated   under Subdivision (2);                      (B)  the period in which the grant award must be   spent;                      (C)  the name of the research project to which   matching funds are to be dedicated; and                      (D)  the specific deliverables of the project that   is the subject of the grant proposal.; and                      (E)  an agreement by the grant recipient to   provide bi-annual reports on the anticipated timeline   for a return on investment for the state's portion of   the grant money, when taking into consideration the   progress made by grant recipient and market conditions.          SECTION 5.  This Act takes effect immediately if it receives   a vote of two-thirds of all the members elected to each house, as   provided by Section 39, Article III, Texas Constitution.  If this   Act does not receive the vote necessary for immediate effect, this   Act takes effect September 1, 2025.