I-181 establishes the Montana Biomedical Research Authority to oversee and review grant applications for the purpose of promoting the development of therapies and cures for brain diseases and injuries and mental illnesses, including Alzheimers, Parkinsons, brain cancer, dementia, traumatic brain injury and stroke. The grants, which are funded by state general obligation bonds, can be used to pay the costs of peer-reviewed biomedical research and therapy development, recruiting scientists and students and acquiring innovative technologies at Montana biomedical research organizations. I-181 provides specifics for the Montana Biomedical Research Authoritys membership, powers, staffing, grant eligibility and evaluation requirements, and reporting requirements.
I-181 authorizes the creation of state bond debts for $20 million per year for a period of ten years. State general fund costs for debt service and other expenses would be $17.38 million total for the first four years and peak at $16 million per year for fiscal years 2027-2037.
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