(1) The board may accept grant proposals and establish a competitive process for the awarding of grants.

     (2) The board shall establish a peer review committee to include board members, scientists, engineers, and individuals with specific recognized expertise. The peer review committee shall provide to the board an independent peer review of all proposals determined to be competitive for a grant award that are submitted to the board.

     (3) In the awarding of grants, priority shall be given to proposals that leverage additional private and public funding resources.

     (4) Up to fifty percent of available funds from the *investing in innovation account may be used to support commercialization opportunities for research in Washington state through an organization with commercialization expertise such as the Spokane intercollegiate research and technology institute.

     (5) The center may not be a direct recipient of grant awards under chapter 403, Laws of 2003.

[2003 c 403 § 6.]

NOTES:

     *Reviser's note: The section creating the investing in innovation account, 2003 c 403 § 3, was vetoed by the governor.