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1997 SESSION

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SB 1047 Trigon Blue Cross Blue Shield.

Introduced by: John H. Chichester | all patrons    ...    notes | add to my profiles

SUMMARY:

Commonwealth Health Research Fund. Establishes a special nonreverting fund to be used to provide financial assistance for research efforts that have the potential of maximizing human health benefits for the citizens of the Commonwealth. The fund consists of the proceeds of the Commonwealth's policyholder shares issued pursuant to the conversion of Trigon Blue Cross Blue Shield from a mutual insurer to a stock corporation. The fund will be managed by the Virginia Retirement System. Decisions regarding disbursements from the fund will be made by a seven-member board. The board will not have its own staff; administrative support will be provided by personnel from the State Council of Higher Education. The board may provide assistance only to research efforts proposed by state institutions of higher education, state agencies or nonprofit organizations in Virginia, and will give priority to funding collaborative research efforts and projects where funds can be leveraged to foster contributions from other entities. This bill is identical to SB 2581.


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