June 5, 2008, Introduced by Rep. Hildenbrand and referred to the Committee on New Economy and Quality of Life.
A bill to amend 1984 PA 270, entitled
"Michigan strategic fund act,"
by amending section 88l (MCL 125.2088l), as added by 2005 PA 215.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 88l . (1) The commercialization board shall consist of 19
members, as provided under subsections (2) and (3).
(2)
The commercialization board shall include each of the 2 7
following voting ex officio members:
(a) The director of the department of labor and economic
growth or his or her designee from within the department of labor
and economic growth.
(b) The state treasurer or his or her designee from within the
department of treasury.
(c) The president of Michigan state university or his or her
designee from within the university.
(d) The president of the university of Michigan or his or her
designee from within the university.
(e) The president of Wayne state university or his or her
designee from within the university.
(f) The president of western Michigan university or his or her
designee from within the university.
(g) The president of Michigan technological university or his
or her designee from within the university.
(3)
The commercialization board shall include the following 17
12 members appointed by the governor with, except for the
individuals described in subdivisions (c) and (d), the advice and
consent of the senate:
(a) Seven members representing business with expertise,
knowledge, skill, or experience in venture capital investments,
business finance, bringing competitive edge technology products to
market, or representing a qualified business.
(b) A member representing the Van Andel institute, a Michigan
charitable trust, MICS 13607, or a successor organization.
(c)
One member appointed from a list of 2 3 or more
individuals selected by the majority leader of the senate
representing qualified businesses or persons with business,
technological, or financial experience related to competitive edge
technology.
(d)
One member appointed from a list of 2 3 or more
individuals selected by the speaker of the house of representatives
representing qualified businesses or persons with business,
technological, or financial experience related to competitive edge
technology.
(e)
A member representing Michigan state university.
(f)
A member representing the university of Michigan.
(g)
A member representing Wayne state university.
(h)
A member representing western Michigan university.
(i)
A member representing Michigan technological university.
(e) (j)
A member representing a public
university in Michigan
other than Michigan state university, the university of Michigan,
Wayne state university, western Michigan university, or Michigan
technological university.
(f) (k)
A member representing automation
alley, a Michigan
nonprofit corporation incorporated on May 21, 1998, or a successor
organization.
(4) Of the members of the commercialization board initially
appointed under subsection (3), 5 members shall be appointed for
terms expiring on December 31, 2006, 5 members shall be appointed
for terms expiring on December 31, 2007, 5 members shall be
appointed for terms expiring on December 31, 2008, and 2 members
shall be appointed for terms expiring on December 31, 2009. After
the expiration of the initial appointment terms provided for by
this subsection, members of the commercialization board shall be
appointed for terms of 4 years.
(5) For members of the commercialization board appointed under
subsection (3), a vacancy on the commercialization board occurring
other than by expiration of a term shall be filled in the same
manner as the original appointment for the balance of the unexpired
term. A member of the commercialization board shall hold office
until a successor has been appointed and qualified. A member of the
commercialization board is eligible for reappointment. State
employees are not eligible to serve as members appointed under
subsection (3). As used in this subsection, "state employees" does
not include an officer or employee of a state institution of higher
education.
(6) The governor shall designate 1 of the members of the
commercialization board to serve as its chairperson at the pleasure
of the governor. The commercialization board shall select from
among its members a member to serve as vice-chairperson and a
member to serve as secretary.
(7) Upon appointment to the commercialization board under this
section and upon the taking and filing of the constitutional oath
of office prescribed in section 1 of article XI of the state
constitution of 1963, a member shall enter the office and exercise
the duties of the office.
(8) Members of the commercialization board shall serve without
compensation, but may be reimbursed for actual and necessary
expenses.
(9) Upon the initial appointment of members under this
section, the commercialization board shall organize and adopt its
own policies, procedures, schedule of regular meetings, and a
regular meeting date, place, and time.
(10) The commercialization board may delegate to its
chairperson, vice-chairperson, or the president of the fund those
functions of the commercialization board under this chapter that
the commercialization board deems necessary or appropriate
consistent with the requirements of this act.
(11) (10)
The Except as otherwise
provided in this subsection,
the commercialization board may act only by resolution approved by
a majority of commercialization board members appointed and
serving. A majority of the members of the commercialization board
appointed and serving shall constitute a quorum for the transaction
of business. If 1 or more members of the commercialization board is
physically present at a meeting of the commercialization board or
is participating by teleconference, videoconference, or other
electronic means recuses himself or herself from participation
because of a potential or actual conflict of interest on a matter
before the commercialization board, the remaining members of the
commercialization board physically present at a meeting of the
commercialization board or participating by teleconference,
videoconference, or other electronic means shall constitute a
quorum of the commercialization board and the commercialization
board may act by resolution approved by a majority of the remaining
and participating members. The commercialization board shall meet
in person or by means of electronic communication devices that
enable all participants in the meeting to communicate with each
other.
(12) (11)
The commercialization board shall
conduct all
business at public meetings held in compliance with the open
meetings act, 1976 PA 267, MCL 15.261 to 15.275. Public notice of
the time, date, and place of each meeting shall be given in the
manner required by the open meetings act, 1976 PA 267, MCL 15.261
to 15.275, and shall be published on the fund's internet website.