Schwarzenegger seeks $95 million for research funding

Calif. Gov. Arnold Schwarzenegger has proposed spending $95 million to support research into clean energy, biomedicine and computer science.

State officials say the funding plan, released Wednesday, would play an important role in attracting private investment totaling as much as $1 billion.

The plan includes $40 million that would go to university researchers, $30 million to support a solar energy project at Lawrence Berkeley National Laboratory at UC Berkeley and $20 million to help research on nanotechnology, biomedicine and information technology.

"As a leader in developing new technologies, California will reap tremendous rewards for our economy and environment from this investment," Schwarzenegger said in a statement.

The budget, expected to be released next week, still needs approval from the state legislature.