According to the California State Controller's office, the California Supreme Court has denied a petition to review the constitutionality of Proposition 71, which voters approved in 2004 to spend $3 billion in tax dollars over 10 years on stem cell research in the state. That means California Institute for Regenerative Medicine, which was also formed as part of Prop 71, is finally free to distribute funds. It's been a long haul. Full press release from CA State Controller John Chiang after the jump.
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SACRAMENTO - State Controller John Chiang today made the following statement in response to today's Supreme Court ruling denying the petition to review the constitutionality of Proposition 71:
"I am pleased that the Supreme Court has reaffirmed the voters' will and ended the litigation that tied up the funding for California's investment in stem cell research.
"California can now issue the $3 billion in bonds to fund and accelerate stem cell research, offering hope of potential life-saving medical discoveries. Today's ruling will also help the State move quickly to foster opportunities in medical science and new technologies."
Controller Chiang chairs the California Financial Accountability
Oversight Committee of the California Institute for Regenerative
Medicine, and also appoints members to Institute's Independent Citizens
Oversight Committee.
