§ 53-C — Report on financial support of research institutes

§ 53-c. Report on financial support of research institutes. If any\nstate agency agrees to provide financial support or any other assistance\nto cover any operating loss for a research institute, such agency shall\nsubmit to the chairs of the senate committee on finance and the assembly\ncommittee on ways and means a report on the calculation of such loss.\nThis calculation shall include all revenue of the corporation from\nwhatever source and all expenses of the corporation. If such calculation\nresults in an operating surplus, such surplus shall be paid to the state\nand may be credited to the budget of the affiliated agency subject to an\nappropriation by the legislature.\n