The California Institute for Regenerative Medicine (CIRM) is a state agency that was created by the passage of Proposition 71 in November 2004. The CIRM will distribute $3 billion of public money to fund stem cell research and build research facilities over the next ten years. The CIRM is mandated to prioritize funding for embryonic stem cell research and research cloning. The funds it allocates will be generated by the sale of state bonds at a total cost, including interest, of $6 billion to $7 billion.
The CIRM is governed by a twenty-nine member governing board, the Independent Citizens Oversight Committee (ICOC). It is composed of officers from public and private universities and nonprofit research centers, representatives of biotechnology corporations, and disease-specific patient advocates. Twenty-seven members are appointed by California elected officials and chancellors of the University of California system, who select them on the basis of the institutional or patient advocacy affiliations specified by Proposition 71. The chair and vice-chair are then elected by these members from candidates nominated by the elected officials.
Proposition 71 established three ICOC advisory...