Perspectives on the conditions of academic research facilities and the various funding mechanisms proposed for modernizing them are offered in this report on the University Research Facilities Revitalization Act of l985 (H.R. 2823). Major components of this bill include: (l) the creation of a university and college research laboratory modernization program in each of the six leading federal Research and Development (R&D) agencies; (2) an authorization of start-up funds for the programs and changes in R&D agency budgets for systematic facility renewal; (3) provisions which assure that large, well established research universities are not favored over smaller or newly emerging academic institutions; (4) plans for cost-sharing programs with federal contributions of approximately 5 billion dollars over ten years and 5 billion in nonfederal funds; and (5) use of a program of matching federal grants. Testimonies addressing these issues and the impact of research facilities on the quality of academic research and science education are presented. (ML)