196.1115.  Board's powers, duties and limitation on expenditures. — 1.  The moneys appropriated to the department of economic development that are not distributed by the department in any fiscal year to a center for excellence or a center for excellence endorsed program pursuant to section 196.1112, if any, shall be held in reserve by the department or shall be awarded on the basis of peer review panel recommendations for capacity building initiatives proposed by public and private not-for-profit academic, research, or health care institutions or organizations, or individuals engaged in competitive research in targeted fields consistent with the provisions of sections 196.1100 to 196.1130 .

  2.  The department may, in view of the limitations expressed in section 196.1130:

  (1)  Award and enter into grants or contracts relating to increasing Missouri's research capacity at public or private not-for-profit institutions;

  (2)  Make provision for peer review panels to recommend and review research projects;

  (3)  Contract for administrative and support services;

  (4)  Lease or acquire facilities and equipment;

  (5)  Employ administrative staff; and

  (6)  Receive, retain, hold, invest, disburse or administer any moneys that it receives from appropriations or from any other source.

  3.  The department shall utilize as much of the moneys as reasonably possible for building capacity at public and private not-for-profit institutions to do research rather than for administrative expenses.  The department shall not in any fiscal year expend more than two percent of the total moneys appropriated to it and of the moneys that it has in reserve or has received from other sources for its own administrative expenses; provided, however, that the general assembly by appropriation from the life sciences research trust fund may authorize a limited amount of additional moneys to be expended for administrative costs.