• Commission to Study Expansion of Life Sciences Industry in North Carolina
  • August 19, 2010 | Author: Robert A. Kaplan
  • Law Firm: McGuireWoods LLP - Washington Office
  • During the 2009-2010 session, the North Carolina General Assembly  authorized a study commission to examine the need for additional life sciences companies to finance facilities and equipment for the manufacture, production or warehousing of life sciences products and services in North Carolina. The commission will also study the legislative proposals contained most recently in  Senate Bill 580 and  House Bill 530 regarding the potential establishment of the North Carolina Life Science Development Corporation.

    Senate Bill 580, which was passed by the Senate during the 2009 session, would have established the North Carolina Life Science Development Corporation and the Life Science Loan Fund to provide loans, tax credits, and other financial support to the growing life sciences industry in North Carolina. That measure ultimately failed in the House. This session, the bill was re-introduced, and the General Assembly ultimately decided to appoint the study commission described above.

    18-member Commission

    • 5 Senate members appointed by President Pro Tem
    • 5 House members appointed by Speaker of the House
    • 1 industry business executive appointed by Speaker of the House
    • 1 industry business executive appointed by President Pro Tem
    • 1 industry scientist appointed by Speaker of the House
    • 1 industry scientist appointed by President Pro Tem
    • 1 other public member with substantial industry experience appointed by Speaker of the House
    • 1 other public member with substantial industry experience appointed by President Pro Tem
    • 2 other public members with substantial knowledge/experience in discovery, development and commercialization of life sciences products or services appointed by governor

    The commission will make its final report and any recommendations to the General Assembly by Feb. 1, 2011. This is a critical piece of legislation for the life sciences industry, and a significant opportunity for those in the industry to get involved in the legislative process as well as the planning for development of the industry in our state.