CHAPTER 488. SOUTHEAST TEXAS BIOTECHNOLOGY PARK
GOVERNMENT CODE
TITLE 4. EXECUTIVE BRANCH
SUBTITLE F. COMMERCE AND INDUSTRIAL DEVELOPMENT
CHAPTER 488. SOUTHEAST TEXAS BIOTECHNOLOGY PARK
Sec. 488.001. COALITION ESTABLISHMENT. The Southeast Texas
Biotechnology Park Coalition is established. The coalition is
composed of public and private health-related institutions, and
other private for-profit and nonprofit and governmental
institutions, and is established for the purpose of developing,
funding, and operating a biotechnology research and development
park to be known as the Southeast Texas Biotechnology Park.
Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11,
2001.
Sec. 488.002. PURPOSE; LOCATION. (a) The park shall be
operated for the purposes of:
(1) furthering the mission of the coalition members;
(2) economic development of the state, including the production
of net revenue to the state and coalition members, from the
commercialization of biotechnology research;
(3) recruiting and retaining leading scientists and established
biotechnology enterprises; and
(4) supporting the growth and development of new biotechnology
enterprises.
(b) The park shall be located in the area of Houston, Texas,
known as the Texas Medical Center.
Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11,
2001.
Sec. 488.003. COALITION MEMBERS. The membership of the
coalition may include any interested governmental or private
for-profit or nonprofit institution, including:
(1) Baylor College of Medicine;
(2) Johnson Space Center of the National Aeronautics and Space
Administration;
(3) Memorial Hermann Health Care System;
(4) Rice University;
(5) St. Luke's Episcopal Health System/Texas Heart Institute;
(6) Texas Southern University;
(7) TIRR Systems;
(8) the University of Houston System;
(9) The University of Texas M. D. Anderson Cancer Center;
(10) The University of Texas Medical Branch at Galveston; and
(11) The University of Texas Health Science Center at Houston.
Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11,
2001.
Sec. 488.004. NONPROFIT CORPORATION. The coalition may
establish a nonprofit corporation to develop and operate the
park.
Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11,
2001.
Sec. 488.005. LAND AND INFRASTRUCTURE. The park may be
developed on land owned by the State of Texas and made available
for that purpose, as well as on land acquired by the state, the
nonprofit corporation, or a member institution for purposes of
the park.
Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11,
2001.
Sec. 488.006. INVESTMENT; FUNDING. (a) The park shall be
developed as a public-private partnership in which both public
institutions and private entities contribute to the development,
funding, and operation of the park.
(b) Leases producing revenue to state institutions participating
in the development of the park shall be at market rates.
Added by Acts 2001, 77th Leg., ch. 574, Sec. 1, eff. June 11,
2001.