The Texas Senate has approved a bill to establish a new institute focused on finding a cure for Alzheimer's disease and other forms of dementia. The legislation, known as SB 5, was introduced by Senator Joan Huffman from Houston. It aims to create the Dementia Prevention and Research Institute of Texas (DPRIT), funded initially with $3 billion. Annual state revenue transfers are capped at $300 million thereafter.
Huffman emphasized Texas's potential in tackling this challenge due to its world-class medical centers and researchers. "There is no better place than Texas to take on this challenge," she stated, highlighting the state's advantageous business environment.
The plan is inspired by the Cancer Prevention and Research Institute of Texas (CPRIT), established in 2007 through legislation led by then-Senator Jane Nelson, now serving as Texas Secretary of State. Nelson expressed optimism about DPRIT's potential impact, saying, "We’re close, we’re close... And you have the opportunity to make that push."
Lt. Governor Dan Patrick noted the widespread support for this initiative: "Unlike any other state, really, we do have the wherewithal sometimes to do great, big things that impact everybody." He added that using surplus dollars for this cause could be highly beneficial.
In another development this week, the Senate passed a proposal to create a state Bitcoin reserve. This measure was authored by Senator Charles Schwertner from Georgetown. He believes it is essential for Texas to remain at the forefront of financial innovation: "I want Texas to lead in this... To lead in the digital financial economy."
Additionally, the Senate State Affairs Committee reviewed a proposal aimed at banning THC in all hemp consumables within Texas. The bill's author, Senator Charles Perry from Lubbock, explained that while industrialized hemp was legalized with agricultural intentions, an $8 billion industry of hemp consumables emerged instead. SB 3 seeks to prohibit any level or type of THC in hemp products but would not affect legal cannabinoids like CBD and CBG.
