Proposal Would Give Naming Rights to Donors
An Independent Citizens' Review Committee board subcommittee on Thursday unanimously approved a proposal to allow corporations that donate money to the California Institute for Regenerative Medicine to attach their names to such things as conference rooms and grants, the AP/San Jose Mercury News reports.
One idea under the proposal would name fellowship programs after donors who contribute at least $10 million.
The proposal would allow companies to donate funds for naming rights as long as less than 5% of the company's annual budget is for stem cell research. The proposal also would bar donor companies from applying for grants from Proposition 71, which was approved by voters in November 2004 to fund stem cell research. The ban would prevent conflicts of interest, proponents of the proposal said.
However, critics of the plan say the potential for conflicts of interest remains.
The full ICOC board is expected to adopt the proposal at a meeting on Thursday (Elias, AP/San Jose Mercury News, 3/31).