(1) The general assembly hereby finds and declares that:(a) During the peer review process for awarding federally sponsored research projects, the federal government often requires project applicants to provide state matching moneys or gives preference to applicants that demonstrate an ability to provide such moneys.(b) Colorado, unlike many other states, does not have a dedicated source of matching moneys for federally sponsored research projects.(c) Federal requirements and preferences for state matching moneys disadvantage Colorado public universities when competing against universities in other states that can access dedicated sources of state matching moneys.(d) It is therefore necessary and appropriate for the state to provide a dedicated source of matching moneys that will allow Colorado public universities to compete on equal footing with out-of-state universities when applying for federally sponsored research projects and to create an authority to oversee the use of the matching moneys.L. 2007: Entire article added, p. 1599, § 1, effective May 31.