Section 265-B. Funding committee

1.  There shall be a funding committee
  which shall have thirteen members appointed by the governor, except  for
  the  commissioner  who  shall serve as an ex officio member. Six members
  shall be appointed directly by the governor; two shall be  appointed  on
  the  nomination  of  the temporary president of the senate; two shall be
  appointed on the nomination of the speaker of the assembly; one shall be
  appointed on the nomination the senate minority leader and one shall  be
  appointed on the nomination of the assembly minority leader. A member of
  the funding committee shall also serve on the ethics committee.
    2. The funding committee shall perform the following functions:
    (a)  provide  for  an  independent  scientific  peer  review committee
  composed of individuals  with  expertise  in  the  field  of  biomedical
  research  who  shall  review  grant  applications  based on the criteria
  requirements and standards adopted by the funding  committee,  and  make
  recommendations to the funding committee for the award of grants;
    (b)  develop  criteria  including  an  appropriate competitive scoring
  method, standards, and requirements for considering funding applications
  and  for  awarding  research  grants,  including  but  not  limited   to
  recommendations  for  the overhead/indirect component of such grants for
  the development and submission of funding applications by New York state
  based consortia;
    (c) recommend standards for the scientific and  medical  oversight  of
  awards;
    (d)  solicit  through  requests  for  proposals  and otherwise, and to
  accept proposals for research projects including grant applications;
    (e) review grant applications based on the criteria, requirements, and
  standards adopted by the funding  committee  utilizing  a  process  that
  gives  due consideration to the amount of nonpublic funds contributed by
  the project sponsor, including cash,  in-kind  personnel,  equipment  or
  materials,  donations,  the  opportunity  to  leverage  funds, including
  federal, private and not-for-profit funds reasonably anticipated  to  be
  received  by  the  project  sponsors;  provided, however, that nonpublic
  funds shall only be considered as a factor by the funding committee when
  reviewing  applications  of  equivalent  merit  as  determined  by   the
  independent scientific peer review committee;
    (f) make recommendations to the commissioner for the award of research
  therapy development and clinical trial grants; and
    (g)  recommend standards for the evaluation of grantees to ensure that
  they comply with all applicable requirements, including, but not limited
  to, conducting peer group progress  oversight  reviews  of  grantees  to
  ensure  compliance  with  the  terms  of  the  award  and  report to the
  commissioner any recommendations or subsequent  action.  Such  standards
  shall mandate periodic reporting by grantees.
    3.  With the exception of the ex officio member, the funding committee
  shall be divided into three classes. Of the  three  classes,  the  first
  class  appointed  shall  include three of the governor's appointees, one
  appointee nominated by the temporary president of the  senate,  and  one
  appointee nominated by the speaker of the assembly and shall serve for a
  term  ending  one year from the effective date of this title. The second
  class shall include two of  the  governor's  appointees,  one  appointee
  nominated  by  the  minority  leader  of  the  senate, and one appointee
  nominated by the minority leader of the assembly and shall serve  for  a
  term  ending  two years from the effective date of this title. The third
  class shall  include  the  final  governor's  appointee,  one  appointee
  nominated  by  the  temporary president of the senate, and one appointee
  nominated by the speaker of the assembly; and shall  serve  for  a  term
  ending  three years from the effective date of this title. Subsequently,
  each member appointed shall serve a term of three years and no more than

  two terms of three years each. A vacancy in the membership of the  board
  shall be filled for the unexpired portion of the term in the same manner
  as the original appointment.