(a) An eligible institution may use money received under this subchapter only for the support and maintenance of educational and general activities that promote increased research capacity at the institution in a manner that aligns with the goals of the state's master plan for higher education developed under Section 61.051.
(b) For purposes of Subsection (a), the use of money shall be limited to the following permitted activities:
(1) providing faculty support and paying faculty salaries;
(2) purchasing equipment or library materials;
(3) paying graduate stipends;
(4) supporting research performed at the institution, including undergraduate research;
(5) increasing technology transfer, commercialization, and patent development; and
(6) increasing the number of research doctoral graduates in this state.
(c) Money received in a fiscal year by an institution under this subchapter that is not used in that fiscal year by the institution may be held and used by the institution in subsequent fiscal years for the purposes prescribed by this section.