90-3-101. (Temporary) Short title -- findings -- purpose. (1) This chapter may be cited as the "Montana Science and Technology Financing Act".
     (2) The legislature finds and declares that:
     (a) it is the policy of the state of Montana to promote the health, safety, and general welfare of all the people of the state;
     (b) this policy will be furthered through strengthening and diversifying the state's economy by facilitating a public sector-private sector partnership to encourage scientific and technological development within the state in order to keep pace with a changing economic structure and to create new jobs and expand business opportunities;
     (c) this strengthening and diversification will be fostered by assisting in the acceleration of development of technology in the state through participation with the private sector in the financing of science and technology development projects that have significant potential for commercialization in Montana;
     (d) the permanent coal tax trust fund created by Article IX, section 5, of the Montana constitution is the appropriate source for providing financing programs for the development of new and expanding businesses in Montana; and
     (e) the Montana science and technology development board has demonstrated success in forging a partnership among the private sector, the university community, and government, and this success should be continued through an ongoing legislative commitment to the board's programs.
     (3) The purposes of this chapter are to:
     (a) strengthen and diversify Montana's economy by establishing a public-private sector partnership to encourage scientific and technological development within the state in order to keep pace with a transforming economic structure and to create new jobs and expand small business opportunities;
     (b) provide a funding source for the board to make seed capital project loans;
     (c) provide a mechanism for the board to use in making seed capital project loans; and
     (d) provide a mechanism and a funding source for the board to use in making research and development project loans. (Repealed effective July 1, 1999--secs. 13, 16(1), Ch. 549, L. 1997.)

     History: (3)(a)En. Sec. 1, Ch. 701, L. 1985; amd. Sec. 81, Ch. 83, L. 1989; amd. Sec. 6, Ch. 626, L. 1989; (1)En. Sec. 1, Ch. 316, L. 1989; (2), (3)(b) thru (3)(d)En. Sec. 2, Ch. 316, L. 1989; amd. Sec. 12, Ch. 589, L. 1991; amd. Secs. 5, 12, Ch. 594, L. 1991.