Stem Cell Money Held Up

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Monday, May 9, 2005

At the Stem Cell Research and Cures Finance Committee meeting, in Sacramento members authorized the sale of three billion dollars in bonds, called for under Proposition 71.  But a recently filed lawsuit has put the money on hold—which frustrates Davis resident Karen Miner who’s in a wheelchair as a result of a spinal cord injury. 

    “The whole world can change for the better… and these little groups… I’m just infuriated that they can stop something.”

State officials say they’re fighting the lawsuit filed by two taxpayer groups who are represented by a legal defense fund that opposes stem cell research on moral grounds.

 In the meantime, the committee is looking for alternate funding sources. State Treasurer Phil Angelides has suggested issuing short-term Bond Anticipation Notes to generate 200-million dollars—but says it must still be determined if that’s feasible.