§ 704. Research proposals. 1. The committee shall consider the need, priority and potential success of research proposals in determining those bearing the most potential benefit to the equine industry in this state.
2. Individuals and institutions eligible for research grants from such funds shall submit to the committee their proposals for the conduct of research projects to be supported by such grants.
3. Each such proposal shall include a complete description of the proposed project, a detailed budget for the same, the personnel conducting the project, and a time schedule for the project with an explanation of any contingencies included in the description.
4. The committee shall cause all such proposals to be transmitted within five days of receipt, to the state racing and wagering board.
5. The committee may, in its discretion, cause such proposals to be reviewed by one or more experts in the field or related research and may approve, disapprove or recommend changes to such projects.
6. The committee's approval, disapproval and/or recommendations with regard to each proposal or its adoption of a budget shall be sent to the state racing and wagering board.
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