220.1501  Rulemaking authority to implement s. 220.15(2)(c), (4)(c), and (8).--The Department of Revenue has authority to adopt rules pursuant to the Administrative Procedure Act to implement s. 220.15(2)(c), (4)(c), and (8), as created by chapter 98-325, Laws of Florida. The Board of Regents and the president of each participating nonpublic university shall monitor the various sponsored research contracts and make a report to the Speaker of the House of Representatives and to the President of the Senate by February 1, 2000, which shall provide any necessary information which indicates if the provisions of chapter 98-325 have been successful in attracting additional sponsored research contracts.