Washington's Cancer Research Endowment Fund Created
Governor Inslee signed into law Senate Bill 6096, creating the The Cancer Research Endowment (CARE) Fund. The law (Chapter 43.348 RCW) authorizes the state to provide a state match of up to $10 million per year, for 10 years, to fund cancer research in Washington State.
The Fund is built on a public-private partnership model, and incentivizes additional investment by requiring private or non-state resources to match public funds. The objectives of the CARE Fund are to:
- Optimize the use of public funds by giving priority to research utilizing the best science and technology with the greatest potential to improve health outcomes;
- Increase the value of our public investments by leveraging our state's existing cancer research facilities and talent, as well as clinical and therapeutic resources;
- Incentivize additional investment by requiring private or other non-state resources to match public funds;
- Protect and benefit Washington taxpayers by funding proposals for cancer research that are reviewed by an independent scientific panel;
- Require fiscal and public accountability through independent audits, open public meetings and hearings, and annual reports to the public; and
- Create jobs and encourage investments that will generate new tax revenues in our state, and advance the biotech, medical device, and health care information technology industries in Washington.