Senate Oks Bill Providing Economic Research Funds/goes to Committee

Article excerpt

A bill whichwould provide seed money through the Oklahoma Department of Commerce to faculty members or faculty groups for industrial research projects which lead towards Oklahoma's economic recovery was passed by a vote of 47 to 0 in the Senate Wednesday passed.

House Bill 1447, sponsored in the Senate by Rep. Norman Lamb, R-Enid, is slated for consideration in conference committee.

In fact, the measure probably will be included along with the Oklahoma Economic Recovery Act of 1987 in the same conference committee.

According to Lamb, House Bill 1447 has the edge over other economic development bills passed in this session of the Oklahoma Legislature because it calls for action to be taken that will lead to economic development in Oklahoma.

"I'm a little afraid the other economic development bills are more philosophical, where this one provides some action be taken," said Lamb. "I believe this bill will be the lead dog in economic development."

House Bill 1447 provides that a revolving fund known as the Excellence in Research for Economic Growth Fund would be established at the Oklahoma Department of Commerce.

The fund would consist of money appropriated by the Oklahoma Legislature, as well as grants and donations. …