§ 704. Research proposals. 1. The committee shall consider the need,
priority and potential success of research proposals in determining
those bearing the most potential benefit to the equine industry in this
state.

2. Individuals and institutions eligible for research grants from such
funds shall submit to the committee their proposals for the conduct of
research projects to be supported by such grants.

3. Each such proposal shall include a complete description of the
proposed project, a detailed budget for the same, the personnel
conducting the project, and a time schedule for the project with an
explanation of any contingencies included in the description.

4. The committee shall cause all such proposals to be transmitted
within five days of receipt, to the commission.

5. The committee may, in its discretion, cause such proposals to be
reviewed by one or more experts in the field or related research and may
approve, disapprove or recommend changes to such projects.

6. The committee's approval, disapproval and/or recommendations with
regard to each proposal or its adoption of a budget shall be sent to the
commission.