MSNBC looks at the funding situation for the California Insitute for Regenerative Medicine: "Voters passed Proposition 71 in 2004 to create the institute and give it authority to borrow and spend $3 billion over 10 years. Lawsuits, however, have prevented it from going to the Wall Street bond market for its money. So the institute will fund the next rounds of grant-giving with a $150 million loan from the state and another $31 million in loans from philanthropic organizations ... A grant-review committee led by 15 scientists from outside of California last week sifted through 232 applications from state researchers vying for 30 grants worth a combined $24 million. Many of the grants will go to scientists getting into stem cell research for the first time and will be formally awarded in February. In March, another round of 25 grants worth about $80 million will go to established stem cell scientists."