State technology fund underfunded

State officials recommend replenishing the Emerging Technology Fund with $7.2 million during the next two years, far below the requested amount.

The Legislative Budget Board is proposing a 92 percent decrease “due to the estimated obligation of grant funding within the 2012–13 biennium,” according to the proposed budget released this week.

The ETF was established in 2005 to promote the development and commercialization of technology with grants awards. The Legislature initially replenished the ETF with more than $100 million every two years.