,i #aacth ,,congress #ast ,session ,h4 ,r4 #ccdi ,,in ,,the ,,house ,,of ,,representatives ,october #bh1 #bjac,mr4 ,conyers 7for himself1 ,mr4 ,watt1 and ,mr4 ,collins of ,georgia7 introduced the following bill2 which was referred to the ,committee on the ,judiciary ,a ,,bill ,to provide for the permanent funding of the ,united ,states ,patent and ,trademark ,office1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,innovation ,protection ,act4 #b4 ,patent and ,trademark ,office funding 7a7 ,definitions ,in this section3 7#a7 ,director ,the term ,director means the ,under ,secretary of ,commerce for ,intellectual ,property and ,director of the ,united ,states ,patent and ,trademark ,office4 7#b7 ,fund ,the term ,fund means the ,united ,states ,patent and ,trademark ,office ,public ,enterprise ,revolving fund established under subsection 7c74 7#c7 ,office ,the term ,office means the ,united ,states ,patent and ,trademark ,office4 7#d7 ,trademark ,act of #aidf ,the term ,trademark ,act of #aidf means the ,act entitled ,an ,act to provide for the registration and protection of trademarks used in commerce1 to carry out the provisions of certain international conventions1 and for other purposes1 approved ,july #e1 #aidf 7#ae ,u4,s4,c4 #ajea et seq47 7commonly referred to as the ,trademark ,act of #aidf or the ,lanham ,act74 7b7 ,funding 7#a7 ,in general ,section #db of title #ce1 ,united ,states ,code1 is amended-- 7,a7 in subsection 7b71 by striking ,patent and ,trademark ,office ,appropriation ,account and inserting ,united ,states ,patent and ,trademark ,office ,public ,enterprise ,fund2 and 7,b7 in subsection 7c7-- 7i7 in paragraph 7#a7-- 7,i7 in the first sentence1 by striking ,to the extent and all that follows through fees and inserting ,fees2 and 7,,ii7 by striking shall be collected by and shall1 subject to paragraph 7#c71 be available to the ,director and inserting shall be collected by1 and shall be available to1 the ,director until expended2 and 7ii7 by striking paragraph 7#b7 and redesignating paragraph 7#c7 as paragraph 7#b74 7#b7 ,effective date ,the amendments made by paragraph 7#a7 shall take effect on the first day of the first fiscal year that begins on or after the date of the enactment of this ,act4 7c7 ,,uspto revolving fund 7#a7 ,establishment ,there is established in the ,treasury of the ,united ,states a revolving fund to be known as the ,united ,states ,patent and ,trademark ,office ,public ,enterprise ,fund4 ,any amounts in the ,fund shall be available for use by the ,director without fiscal year limitation4 7#b7 ,derivation of resources 7,a7 ,in general ,there shall be deposited into the ,fund on and after the effective date set forth in subsection 7b77#b7-- 7i7 any fees collected under title #ce1 ,united ,states ,code2 and 7ii7 any fees collected under the ,trademark ,act of #aidf 7#ae ,u4,s4,c4 #ajea et seq474 7,b7 ,remaining balances ,there shall be deposited in the ,fund1 on the effective date set forth in subsection 7b77#b71 any unobligated balances remaining in the ,patent and ,trademark ,office ,appropriation ,account1 and in the ,patent and ,trademark ,fee ,reserve ,fund established under section #db7;b77#b7 of title #ca1 ,united ,states ,code1 as in effect on the day before such effective date4 ,upon the payment of all obligated amounts in the ,patent and ,trademark ,fee ,reserve ,fund1 the ,patent and ,trademark ,fee ,reserve ,fund shall be terminated4 7#c7 ,expenses ,amounts deposited into the ,fund under paragraph 7#b7 shall be available1 without fiscal year limitation1 to cover-- 7,a7 all expenses1 to the extent consistent with the limitation on the use of fees set forth in section #db7;c7 of title #ce1 ,united ,states ,code1 including all administrative and operating expenses1 determined in the discretion of the ,director to be ordinary and reasonable1 incurred by the ,director for the continued operation of all services1 programs1 activities1 and duties of the ,office relating to patents and trademarks1 as such services1 programs1 activities1 and duties are described under-- 7i7 title #ce1 ,united ,states ,code2 and 7ii7 the ,trademark ,act of #aidf2 and 7,b7 all expenses incurred pursuant to any obligation1 representation1 or other commitment of the ,office4 7d7 ,annual report and operation plan ,not later than #fj days after the end of each fiscal year1 the ,director shall submit to ,congress a report that-- 7#a7 summarizes the operations of the ,office for the preceding fiscal year1 including financial details and staff levels broken down by each major activity of the ,office2 7#b7 describes the long term modernization plans of the ,office2 7#c7 sets forth details of any progress towards such modernization plans made in the preceding fiscal year2 and 7#d7 includes the results of the most recent audit carried out under subsection 7f74 7e7 ,annual spending plan 7#a7 ,in general ,not later than #cj days after the beginning of each fiscal year1 the ,director shall notify the ,committee on ,appropriations of the ,house of ,representatives and the ,committee on ,appropriations of the ,senate of the plan for the obligation and expenditure by the ,office of the total amount of the funds for that fiscal year in accordance with section #fje of the ,science1 ,state1 ,justice1 ,commerce1 and ,related ,agencies ,appropriations ,act1 #bjjf 7,public ,law #aji-ajh2 #aai ,stat4 #bccd74 7#b7 ,contents ,each plan under paragraph 7#a7 shall-- 7,a7 summarize the operations of the ,office for the current fiscal year1 including financial details and staff levels with respect to major activities2 and 7,b7 detail the operating plan of the ,office1 including specific expense and staff needs1 for the current fiscal year4 7f7 ,audit ,the ,director shall1 on an annual basis1 provide for an independent audit of the financial statements of the ,office4 ,such audit shall be conducted in accordance with generally accepted accounting principles4 7g7 ,budget ,the ,fund shall prepare and submit each year to the ,president a business-type budget in such manner1 and before such date1 as the ,president prescribes by regulation4