Johnnie B. Byrd, Sr., Alzheimer’s Center and Research Institute.

(1) CREATION AND MISSION.—The Johnnie B. Byrd, Sr., Alzheimer’s Center and Research Institute is established within the University of South Florida. The institute has a statewide mission to advance research, education, treatment, prevention, and the early detection of Alzheimer’s disease and is responsible for distributing peer-reviewed competitive grant funds for Alzheimer’s disease research.

(2) CHIEF EXECUTIVE OFFICER.—The institute shall be administered by a chief executive officer who shall be appointed by and serve at the pleasure of the president of the University of South Florida or the president’s designee. The chief executive officer shall prepare an annual report for the institute which describes the expenditure of all of the institute’s funds and provides information regarding research that has been conducted or funded by the institute, including the expected and actual results of the research.

(3) BUDGET.—The institute’s budget shall include the moneys appropriated in the General Appropriations Act, donated, or otherwise provided to the institute from private, local, state, and federal sources, as well as technical and professional income generated or derived from practice activities at the institute. Any appropriation to the institute shall be expended for the purposes specified in this section, including conducting and supporting research and related clinical services, awarding institutional grants and investigator-initiated research grants to other persons within the state through a peer-reviewed competitive process, developing and operating integrated data projects, providing assistance to the memory disorder clinics established in s. 430.502, and providing for the operation of the institute.