SB 895: California Science and Health Research Bond Act.

This bill establishes the California Foundation for Science and Health Research, which will oversee the distribution of $23 billion in funds for research and development in specific areas such as biomedical, behavioral health, and climate research. The foundation will award grants and make loans to public and private research companies, universities, and organizations. A council will develop strategic objectives and priorities for the foundation, and a scientific peer review process will be used to review and prioritize proposals. The council will have a majority quorum requirement, and a majority of its members will constitute a quorum for the transaction of business. The bill also requires that research funded by the foundation be conducted under established standards of open scientific exchange, peer review, and public oversight. The bill makes findings to demonstrate the need for pr…