AUTHORIZES BONDS CONTINUING STEM CELL RESEARCH. INITIATIVE STATUTE.
OFFICIAL TITLE AND SUMMARY
PREPARED BY THE ATTORNEY GENERAL
- Authorizes $5.5 billion in state general obligation bonds to fund grants from the California Institute of Regenerative Medicine to educational, nonprofit, and private entities for: stem cell and other medical research, including training; stem cell therapy development and delivery; research facility construction; and associated administrative expenses.
- Dedicates $1.5 billion to research and therapy for Alzheimer's, Parkinson’s, stroke, epilepsy, and other brain and central nervous system diseases and conditions.
- Appropriates General Fund moneys to pay bond debt service.
- Expands programs promoting stem cell and other medical research, therapy development and delivery, and student and physician training and fellowships.
SUMMARY OF LEGISLATIVE ANALYST'S ESTIMATE OF NET STATE AND LOCAL GOVERNMENT FISCAL IMPACT:
- Increased state costs to repay bonds estimated at about $260 million per year over the next roughly 30 years.
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