F.__The President of the Maine Technical College System or the president's designee; and

G.__The Director of the State Planning Office or the director's designee.

SUMMARY

This bill establishes the Applied Research and Development Fund to be used for applied research and development relevant to the Maine economy. The fund will receive annual General Fund appropriations equivalent to one percent of actual General Fund revenue for the previous year.

The bill also establishes an organization responsible for making awards from the fund. A 12-member governing board is established to oversee the activities of the organization.