,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #cbh  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #d1 #bjai,mr4 
,moran 7= himself1 ,mr4 ,w>n]1 ,mr4     
,blunt1 & ,ms4 ,klobu*>7 introduc$ !    
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ! ,judici>y  ,a      
,,bill  ,to jump-/>t economic recov]y   
?r\gh ! =mation & gr[? ( new bus9esses1 
& = o!r purposes4  #a4 ,%ort title2     
table ( cont5ts  7a7 ,%ort title ,?is   
,act may be cit$ z ! ,/>tup ,act4  7b7  
,table ( cont5ts ,! table ( cont5ts =   
?is ,act is z foll[s3 ,sec4 #a4 ,%ort   
title2 table ( cont5ts4,sec4 #b4        
,f9d+s4,sec4 #c4 ,conditional p]man5t   
resid5t /atus = immigrants ) an advanc$ 
degree 9 a ,,/em field4,sec4 #d4        
,immigrant entrepr5eurs4,sec4 #e4       
,elim9ation ( ! p] c\ntry num]ical      
limitation = employm5t-bas$ visas4,sec4 
#f4 ,accel]at$ comm]cialization (       
taxpay]-fund$ rese>*4,sec4 #g4 ,regional
 innovation program4,sec4 #h4 ,economic 
impact ( significant ,f$]al ag5cy       

rules4,sec4 #i4 ,bi5nial ,/ate />tup    
bus9ess report4,sec4 #aj4 ,new bus9ess  
=mation report4,sec4 #aa4 ,rescission ( 
unsp5t ,f$]al funds4  #b4 ,f9d+s        
,congress makes ! foll[+ f9d+s3  7#a7   
,a*iev+ economic recov]y w require !    
=mation & gr[? ( new companies4  7#b7   
,betwe5 #aihj & #bjje1 companies t 7    
less ?an #e ye>s old acc\nt$ = ne>ly all
 net job creation 9 ! ,unit$ ,/ates4    
7#c7 ,new firms 9 ! ,unit$ ,/ates create
 an av]age ( #c1jjj1jjj jobs p] ye>4    
7#d7 ,to get ,am]icans back to "w1      
entrepr5eurs mu/ be free to innovate1   
create new companies1 & hire employees4 
#c4 ,conditional p]man5t resid5t /atus =
 immigrants ) an advanc$ degree 9 a     
,,/em field  7a7 ,9 g5]al ,*apt] #b (   
title ,,ii ( ! ,immigration &           
,nationality ,act 7#h ,u4,s4,c4 #aaha et
 seq47 is am5d$ by ins]t+ aft] section  
#baf;,a ! foll[+3  #baf;,b4 ,conditional
 p]man5t resid5t /atus = ali5s ) an     
advanc$ degree 9 a ,,/em field  7a7 ,9  
g5]al ,not)/&+ any o!r provision ( ?is  

,act1 ! ,secret>y ( ,homel& ,security   
may--  7#a7 adju/ ! /atus ( n m ?an     
#ej1jjj ali5s :o h e>n$ a ma/]'s degree 
or a doctorate degree at an in/itution (
 high] education 9 a ,,/em field to t ( 
an ali5 conditionally admitt$ = p]man5t 
resid5ce2 &  7#b7 au?orize ea* ali5     
grant$ an adju/m5t ( /atus "u p>agraph  
7#a7 to rema9 9 ! ,unit$ ,/ates--  7,a7 
= up to #a ye> aft] ! expiration ( !    
ali5's /ud5t visa "u section            
#aja7;a77#ae77;,f77i7 if ! ali5 is      
dilig5tly se>*+ = an opportunity to     
become actively engag$ 9 a ,,/em field2 
&  7,b7 indef9itely if ! ali5 rema9s    
actively engag$ 9 a ,,/em field4  7b7   
,application = conditional p]man5t      
resid5t /atus ,e ali5 apply+ =          
conditional p]man5t resid5t /atus "u ?is
 section %all submit an application to !
 ,secret>y ( ,homel& ,security be=e !   
expiration ( ! ali5's /ud5t visa 9 su*  
=m & mann] z ! ,secret>y %all prescribe 
by regulation4  7c7 ,ineligibility =    
,f$]al ,gov]nm5t assi/ance ,an ali5     

grant$ conditional p]man5t resid5t /atus
 "u ?is section %all n be eligible1 :ile
 9 su* /atus1 =--  7#a7 any unemploym5t 
comp5sation 7z def9$ 9 section #he7;b7 (
 ! ,int]nal ,rev5ue ,code ( #aihf72 or  
7#b7 any ,f$]al means-te/$ public b5efit
 7z t t]m is us$ 9 section #djc ( !     
,p]sonal ,responsibility & ,"w          
,opportunity ,reconciliation ,act (     
#aiif 7#h ,u4,s4,c4 #afac774  7d7       
,effect on naturalization resid5cy      
requirem5t ,an ali5 grant$ conditional  
p]man5t resid5t /atus "u ?is section    
%all be deem$ to h be5 lawfully admitt$ 
= p]man5t resid5ce = purposes ( meet+ ! 
#e-ye> resid5cy requirem5t "u section   
#caf7;a77#a74  7e7 ,removal ( condition 
,! ,secret>y ( ,homel& ,security %all   
remove ! conditional basis ( an ali5's  
conditional p]man5t resid5t /atus "u ?is
 section on ! date t is #e ye>s aft] !  
date su* /atus 0 grant$ if ! ali5       
ma9ta9$ 8 or h] eligibility = su* /atus 
dur+ ! entire #e-ye> p]iod4  7f7        
,def9itions ,9 ?is section3  7#a7       

,actively engag$ 9 a ,,/em field ,! t]m 
actively engag$ 9 a ,,/em field--  7,a7 
means-- 7i7 ga9fully employ$ 9 a = pr(it
 bus9ess or nonpr(it organization 9 !   
,unit$ ,/ates 9 a ,,/em field2  7ii7    
tea*+ #a or m ,,/em field c\rses at an  
in/itution ( high] education2 or  7iii7 
employ$ by a ,f$]al1 ,/ate1 or local    
gov]nm5t entity2 &  7,b7 includes any   
p]iod ( up to #f mon?s dur+ :i* ! ali5  
does n meet ! requirem5t "u subp>agraph 
7,a7 if su* p]iod 0 imm$iately prec$$ by
 a #a-ye> p]iod dur+ :i* ! ali5 met !   
requirem5t "u subp>agraph 7,a74  7#b7   
,in/itution ( high] education ,! t]m    
in/itution ( high] education has ! mean+
 giv5 ! t]m 9 section #aja7;a7 ( !      
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajja7;a774  7#c7 ,,/em field 
,! t]m ,,/em field means any field (    
/udy or occupation includ$ on ! mo/     
rec5t ,,/em-,designat$ ,degree ,program 
,li/ publi%$ 9 ! ,f$]al ,regi/] by !    
,dep>tm5t ( ,homel& ,security 7z        
describ$ 9 section                      

#bad4b7;f77#aa77;i77,c77#b7 ( title #h1 
,code ( ,f$]al ,regulations74  4  7b7   
,cl]ical am5dm5t ,! table ( cont5ts ( ! 
,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aaja note7 is am5d$ by ins]t+
 aft] ! item relat+ to section #baf;,a !
 foll[+3  ,sec4 #baf;,b4 ,conditional   
p]man5t resid5t /atus = ali5s ) an      
advanc$ degree 9 a ,,/em field4  4  7c7 
,gov]nm5t ,acc\ntability ,(fice /udy    
7#a7 ,9 g5]al ,n lat] ?an #c ye>s aft] !
 date ( ! enactm5t ( ?is ,act1 !        
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit a report to ,congress reg>d+
 ! ali5 college graduates :o 7 grant$   
immigrant /atus "u section #baf;,b ( !  
,immigration & ,nationality ,act1 z add$
 by subsection 7a74  7#b7 ,cont5ts ,!   
report requir$ "u p>agraph 7#a7 %all    
include--  7,a7 ! numb] ( ali5s describ$
 9 p>agraph 7#a7 :o h e>n$ a ma/]'s     
degree1 brok5 d[n by ! numb] ( su*      
degrees 9 sci5ce1 te*nology1 eng9e]+1 & 
ma!matics2  7,b7 ! numb] ( ali5s        
describ$ 9 p>agraph 7#a7 :o h e>n$ a    

doctorate degree1 brok5 d[n by ! numb] (
 su* degrees 9 sci5ce1 te*nology1       
eng9e]+1 & ma!matics2  7,c7 ! numb] (   
ali5s describ$ 9 p>agraph 7#a7 :o h     
f\nd$ a bus9ess 9 ! ,unit$ ,/ates 9 a   
,,/em field2  7,d7 ! numb] ( ali5s      
describ$ 9 p>agraph 7#a7 :o are employ$ 
9 ! ,unit$ ,/ates 9 a ,,/em field1 brok5
 d[n by employm5t sector 7=-pr(it1      
nonpr(it1 or gov]nm5t72 &  7,e7 ! numb] 
( ali5s describ$ 9 p>agraph 7#a7 :o are 
employ$ by an in/itution ( high]        
education4  7#c7 ,def9itions ,! t]ms    
in/itution ( high] education & ,,/em    
field h ! mean+s giv5 su* t]ms 9 section
 #baf;,b7f7 ( ! ,immigration &          
,nationality ,act1 z add$ by subsection 
7a74  #d4 ,immigrant entrepr5eurs  7a7  
,qualifi$ ali5 entrepr5eurs  7#a7       
,admission z immigrants ,*apt] #a (     
title ,,ii ( ! ,immigration &           
,nationality ,act 7#h ,u4,s4,c4 #aaea et
 seq47 is am5d$ by add+ at ! end !      
foll[+3  #baj;,a4 ,qualifi$ ali5        
entrepr5eurs  7a7 ,admission z          

immigrants ,! ,secret>y ( ,homel&       
,security may issue a conditional       
immigrant visa1 9 accordance ) ?is      
section & section #baf;,a1 to n m ?an   
#ge1jjj qualifi$ ali5 entrepr5eurs4  7b7
 ,application = conditional p]man5t     
resid5t /atus ,e ali5 apply+ = a        
conditional immigrant visa "u ?is       
section %all submit an application to ! 
,secret>y ( ,homel& ,security 9 su* =m &
 mann] z ! ,secret>y %all prescribe by  
regulation4  7c7 ,revocation ,if1 dur+ !
 #d-ye> p]iod beg9n+ on ! date on :i* an
 ali5 is grant$ a visa "u ?is section1 !
 ,secret>y ( ,homel& ,security det]m9es 
t ! ali5 is no long] a qualifi$ ali5    
entrepr5eur1 ! ,secret>y %all--  7#a7   
revoke su* visa2 &  7#b7 notify ! ali5 t
 he or %e--  7,a7 may volunt>ily dep>t f
 ! ,unit$ ,/ates 9 accordance ) section 
#bdj;,b2 or  7,b7 w be subject to       
removal proce$+s "u section #bdj if !   
ali5 does n dep>t f ! ,unit$ ,/ates n   
lat] ?an #f mon?s aft] receiv+          
notification "u ?is p>agraph4  7d7      

,removal ( conditional basis ,!         
,secret>y ( ,homel& ,security %all      
remove ! conditional basis ( ! /atus (  
an ali5 issu$ an immigrant visa "u ?is  
section on t date t is #d ye>s aft] !   
date on :i* su* visa 0 issu$ if su* visa
 0 n revok$ pursuant to subsection 7c74 
7e7 ,def9itions ,9 ?is section3  7#a7   
,full-"t employee ,! t]m full-"t        
employee means a ,unit$ ,/ates citiz5 or
 legal p]man5t resid5t :o is paid by !  
new bus9ess entity regi/]$ by a qualifi$
 ali5 entrepr5eur at a rate t is        
comp>able to ! m$ian income ( employees 
9 ! region4  7#b7 ,qualifi$ ali5        
entrepr5eur ,! t]m qualifi$ ali5        
entrepr5eur means an ali5 :o--  7,a7 at 
! "t ! ali5 applies = an immigrant visa 
"u ?is section--  7i7 is lawfully pres5t
 9 ! ,unit$ ,/ates2 &  7ii7 7,i7 holds a
 nonimmigrant visa issu$ pursuant to    
section #aja7;a77#ae77;,h77i77b72 or    
7,,ii7 holds a nonimmigrant visa issu$  
pursuant to section                     
#aja7;a77#ae77;,f77i72  7,b7 dur+ !     

#a-ye> p]iod beg9n+ on ! date ! ali5 is 
grant$ a visa "u ?is section--  7i7     
regi/]s at lea/ #a new bus9ess entity 9 
a ,/ate2  7ii7 employs1 at su* bus9ess  
entity 9 ! ,unit$ ,/ates1 at lea/ #b    
full-"t employees :o are n relatives ( !
 ali52 &  7iii7 inve/s1 or raises       
capital inve/m5t (1 n less ?an #ajj1jjj 
9 su* bus9ess entity2 &  7,c7 dur+ !    
#c-ye> p]iod beg9n+ on ! la/ day ( !    
#a-ye> p]iod describ$ 9 p>agraph 7#b71  
employs1 at su* bus9ess entity 9 !      
,unit$ ,/ates1 an av]age ( at lea/ #e   
full-"t employees :o are n relatives ( !
 ali54  4  7#b7 ,cl]ical am5dm5t ,!     
table ( cont5ts ( ! ,immigration &      
,nationality ,act 7#h ,u4,s4,c4 #aaja   
note7 is am5d$ by add+ aft] ! item      
relat+ to section #baj ! foll[+3  ,sec4 
#baj;,a4 ,qualifi$ ali5 entrepr5eurs4  4
  7b7 ,conditional p]man5t resid5t /atus
 ,section #baf;,a ( ! ,immigration &    
,nationality ,act 7#h ,u4,s4,c4 #aahf;b7
 is am5d$--  7#a7 by /rik+ ,attorney    
,g5]al ea* place su* t]m appe>s & ins]t+

 ,secret>y ( ,homel& ,security2  7#b7 9 
subsection 7b77#a77;,c71 by /rik+       
#bjc7;b77#e71 & ins]t+ #bjc7;b77#e7 or  
#baj;,a1 z appropriate12  7#c7 9        
subsection 7c77#a71 by /rik+ ali5       
entrepr5eur mu/ ea* place su* t]m appe>s
 & ins]t+ ali5 entrepr5eur %all2  7#d7 9
 subsection 7d77#a77;,b71 by /rik+ !    
p]iod at ! end & ins]t+ or #baj;,a1 z   
appropriate42 &  7#e7 9 subsection      
7f77#a71 by /rik+ ! p]iod at ! end &    
ins]t+ or #baj;,a44  7c7 ,gov]nm5t      
,acc\ntability ,(fice /udy  7#a7 ,9     
g5]al ,n lat] ?an #c ye>s aft] ! date ( 
! enactm5t ( ?is ,act1 ! ,comptroll]    
,g5]al ( ! ,unit$ ,/ates %all submit a  
report to ,congress reg>d+ ! qualifi$   
ali5 entrepr5eurs :o 7 grant$ immigrant 
/atus "u section #baj;,a ( !            
,immigration & ,nationality ,act1 z add$
 by subsection 7a74  7#b7 ,cont5ts ,!   
report describ$ 9 p>agraph 7#a7 %all    
include in=mation reg>d+--  7,a7 ! numb]
 ( qualifi$ ali5 entrepr5eurs :o h      
receiv$ immigrant /atus "u section      

#baj;,a ( ! ,immigration & ,nationality 
,act1 z add$ by subsection 7a71 li/$ by 
c\ntry ( orig92  7,b7 ! localities 9 :i*
 su* qualifi$ ali5 entrepr5eurs h       
initially settl$2  7,c7 :e!r su*        
qualifi$ ali5 entrepr5eurs g5]ally rema9
 9 ! localities 9 :i* !y initially      
settle2  7,d7 ! types ( comm]cial       
ent]prises t su* qualifi$ ali5          
entrepr5eurs h e/abli%$2 &  7,e7 ! types
 & numb] ( jobs creat$ by su* qualifi$  
ali5 entrepr5eurs4  #e4 ,elim9ation ( ! 
p] c\ntry num]ical limitation =         
employm5t-bas$ visas  7a7 ,9 g5]al      
,section #bjb7;a77#b7 ( ! ,immigration &
 ,nationality ,act 7#h ,u4,s4,c4        
#aaeb7;a77#b77 is am5d$--  7#a7 9 !     
p>agraph head+1 by /rik+ &              
employm5t-bas$2  7#b7 by /rik+ 7#c71    
7#d71 & 7#e71 & ins]t+ 7#c7 & 7#d712    
7#c7 by /rik+ subsections 7a7 & 7b7 (   
section #bjc & ins]t+ section #bjc7;a72 
7#d7 by /rik+ #g & ins]t+ #ae2 &  7#e7  
by /rik+ su* subsections & ins]t+ su*   
section4  7b7 ,con=m+ am5dm5ts ,section 

#bjb ( ! ,immigration & ,nationality    
,act 7#h ,u4,s4,c4 #aaeb7 is am5d$--    
7#a7 9 subsection 7a7--  7,a7 9 p>agraph
 7#c71 by /rik+ bo? subsections 7a7 &   
7b7 ( section #bjc & ins]t+ section     
#bjc7;a72 &  7,b7 by /rik+ p>agraph     
7#e72 &  7#b7 by am5d+ subsection 7e7 to
 read z foll[s3  7e7 ,special rules =   
c\ntries at ceil+ ,if ! total numb] (   
immigrant visas made available "u       
section #bjc7;a7 to natives ( any s+le  
=eign /ate or dep5d5t area w exce$ !    
num]ical limitation specifi$ 9          
subsection 7a77#b7 9 any fiscal ye>1 9  
det]m9+ ! allotm5t ( immigrant visa     
numb]s to natives "u section #bjc7;a71  
visa numb]s ) respect to natives ( t    
/ate or area %all be allocat$ 7to !     
ext5t practicable & o!rwise consi/5t )  
?is section & section #bjc7 9 a mann] s 
t1 except z provid$ 9 subsection        
7a77#d71 ! proportion ( ! visa numb]s   
made available "u ea* ( p>agraphs 7#a7  
?r\gh 7#d7 ( section #bjc7;a7 is equal  
to ! ratio ( ! total numb] ( visas made 

available "u ! respective p>agraph to ! 
total numb] ( visas made available "u   
section #bjc7;a74  4  7c7               
,c\ntry-,specific (fset ,section #b ( ! 
,*9ese ,/ud5t ,protection ,act ( #aiib  
7#h ,u4,s4,c4 #abee note7 is am5d$--    
7#a7 9 subsection 7a71 by /rik+         
subsection 7e77 & ins]t+ subsection     
7d772 &  7#b7 by /rik+ subsection 7d7 & 
r$esignat+ subsection 7e7 z subsection  
7d74  7d7 ,effective date ,! am5dm5ts   
made by ?is section %all take effect on 
,septemb] #cj1 #bjai1 & %all apply to   
fiscal ye>s beg9n+ ) fiscal ye> #bjbj4  
7e7 ,transition rules = employm5t-,bas$ 
immigrants  7#a7 ,9 g5]al ,subject to ( 
?is subsection & not)/&+ title ,,ii ( ! 
,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aaea et seq471 ! foll[+ rules
 %all apply3  7,a7 ,= fiscal ye> #bjbj1 
#ae p]c5t ( ! immigrant visas made      
available "u ea* ( p>agraphs 7#b7 & 7#c7
 ( section #bjc7;b7 ( su* ,act 7#h      
,u4,s4,c4 #aaec7;b77 %all be allott$ to 
immigrants :o are natives ( a =eign /ate

 or dep5d5t area t 0 n #a ( ! #b =eign  
/ates ) ! l>ge/ aggregate numb]s (      
natives obta9+ immigrant visas dur+     
fiscal ye> #bjah "u su* p>agraphs4  7,b7
 ,= fiscal ye> #bjba1 #aj p]c5t ( !     
immigrant visas made available "u ea* ( 
su* p>agraphs %all be allott$ to        
immigrants :o are natives ( a =eign /ate
 or dep5d5t area t 0 n #a ( ! #b =eign  
/ates ) ! l>ge/ aggregate numb]s (      
natives obta9+ immigrant visas dur+     
fiscal ye> #bjai "u su* p>agraphs4  7,c7
 ,= fiscal ye> #bjbb1 #aj p]c5t ( !     
immigrant visas made available "u ea* ( 
su* p>agraphs %all be allott$ to        
immigrants :o are natives ( a =eign /ate
 or dep5d5t area t 0 n #a ( ! #b =eign  
/ates ) ! l>ge/ aggregate numb]s (      
natives obta9+ immigrant visas dur+     
fiscal ye> #bjbj "u su* p>agraphs4  7#b7
 ,p]-c\ntry levels  7,a7 ,res]v$ visas  
,) respect to ! visas res]v$ "u ea* (   
subp>agraphs 7,a7 ?r\gh 7,c7 ( p>agraph 
7#a71 ! numb] ( su* visas made available
 to natives ( any s+le =eign /ate or    

dep5d5t area 9 ! appropriate fiscal ye> 
may n exce$ #be p]c5t 79 ! case ( a s+le
 =eign /ate7 or #b p]c5t 79 ! case ( a  
dep5d5t area7 ( ! total numb] ( su*     
visas4  7,b7 ,unres]v$ visas ,) respect 
to ! immigrant visas made available "u  
ea* ( p>agraphs 7#b7 & 7#c7 ( section   
#bjc7;b7 ( ! ,immigration & ,nationality
 ,act 7#h ,u4,s4,c4 #aaec7;b77 & n      
res]v$ "u p>agraph 7#a71 = ea* ( fiscal 
ye>s #bjbj1 #bjba1 & #bjbb1 n m ?an #he 
p]c5t %all be allott$ to immigrants :o  
are natives ( any s+le =eign /ate4  7#c7
 ,special rule to prev5t unus$ visas    
,if1 ) respect to fiscal ye> #bjbj1     
#bjba1 or #bjbb1 ! op]ation ( p>agraphs 
7#a7 & 7#b7 w\ld prev5t ! total numb] ( 
immigrant visas made available "u       
p>agraph 7#b7 or 7#c7 ( section #bjc7;b7
 ( ! ,immigration & ,nationality ,act   
7#h ,u4,s4,c4 #aaec7;b77 f be+ issu$1   
su* visas may be issu$ dur+ ! rema9d] ( 
su* fiscal ye> )\t reg>d to su*         
p>agraphs 7#a7 & 7#b74  7#d7 ,rules =   
*>geability ,section #bjb7;b7 ( !       

,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aaeb7;b77 %all apply 9       
det]m9+ ! =eign /ate to :i* an ali5 is  
*>geable = purposes ( ?is subsection4   
#f4 ,accel]at$ comm]cialization (       
taxpay]-fund$ rese>*  7a7 ,def9itions ,9
 ?is section3  7#a7 ,c\ncil ,! t]m      
,c\ncil means ! ,advisory ,c\ncil on    
,innovation & ,entrepr5eur%ip ( !       
,dep>tm5t ( ,comm]ce e/abli%$ pursuant  
to section #be7;c7 ( ! ,/ev5son-,wydl]  
,te*nology ,innovation ,act ( #aihj 7#ae
 ,u4,s4,c4 #cgbj7;c774  7#b7 ,eligible  
entity ,! t]m eligible entity means--   
7,a7 an in/itution ( high] education2 or
  7,b7 a v5ture developm5t organization4
  7#c7 ,extramural budget  7,a7 ,9 g5]al
 ,except z provid$ 9 subp>agraph 7,b71 !
 t]m extramural budget means ! sum ( !  
total obligations m9us am\nts obligat$ =
 su* activities by employees ( ! ag5cy 9
 or ?r\gh ,gov]nm5t-own$1               
,gov]nm5t-op]at$ facilities4  7,b7      
,exceptions ,! t]m extramural budget    
%all n include-- 7i7 ) respect to !     

,dep>tm5t ( ,en]gy1 am\nts obligat$ =-- 
7,i7 atomic en]gy def5se programs solely
 = weapons activities2 or  7,,ii7 naval 
reactor programs2 &  7ii7 ) respect to  
,unit$ ,/ates ,ag5cy = ,int]national    
,developm5t1 am\nts obligat$ solely =-- 
7,i7 g5]al in/itutional support (       
int]national rese>* c5t]s2 or  7,,ii7   
grants to =eign c\ntries4  7#d7         
,in/itution ( high] education ,! t]m    
in/itution ( high] education has ! mean+
 giv5 ! t]m 9 section #aja7;a7 ( !      
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajja7;a774  7#e7 ,nonpr(it   
organization ,! t]m nonpr(it            
organization means an entity or         
organization-- 7,a7 7i7 describ$ 9      
section #eja7;c77#c7 ( ! ,int]nal       
,rev5ue ,code ( #aihf2 &  7ii7 exempt f 
taxation "u #eja7;a7 ( su* ,act2 or     
7,b7 describ$ 9 p>agraph 7#a7 or 7#b7 ( 
section #agj7;c7 ( su* ,act4  7#f7      
,rese>* or rese>* & developm5t ,! t]ms  
rese>* & rese>* & developm5t mean any   
activity t is--  7,a7 a sy/ematic1      

int5sive /udy direct$ t[>d great] k or  
und]/&+ ( ! subject /udi$2  7,b7 a      
sy/ematic /udy direct$ specifically t[>d
 apply+ new k to meet a recogniz$ ne$2  
or  7,c7 a sy/ematic application ( k    
t[>d ! production ( useful mat]ials1    
devices1 & sy/ems or me?ods1 includ+    
design1 developm5t1 & improvem5t (      
prototypes & new processes to meet      
specific requirem5ts4  7#g7 ,secret>y ,!
 t]m ,secret>y means ! ,secret>y (      
,comm]ce4  7#h7 ,/ate organization ,!   
t]m ,/ate organization means an entity t
 has be5 creat$ by-- 7,a7 a ,/ate2  7,b7
 ! ,commonweal? ( ,pu]to ,rico2 or  7,c7
 ! ,di/rict ( ,columbia4  7#i7 ,v5ture  
developm5t organization ,! t]m v5ture   
developm5t organization means a ,/ate or
 nonpr(it organization t contributes to 
regional or sector-bas$ economic        
prosp]ity by provid+ a portfolio (      
s]vices int5d$ to accompli% at lea/ #c (
 ! foll[+ purposes3  7,a7 ,accel]at+ !  
comm]cialization ( rese>* or rese>* &   
developm5t4  7,b7 ,assi/+ 9 ! creation (

 high-gr[? private ent]prises t are     
comm]cializ+ te*nology4  7,c7 ,/r5g!n+ !
 competitive position ( exi/+ small- &  
m$ium-siz$ ent]prises ?r\gh !           
developm5t1 comm]cial adoption1 or      
deploym5t ( te*nology4  7,d7 ,provid+   
exp]t assi/ance to-- 7i7 private        
companies2  7ii7 faculty1 /aff1 & /ud5ts
 ( in/itutions ( high] education :o are 
comm]cializ+ new products or s]vices2 or
  7iii7 entrepr5eurs :o are comm]cializ+
 new products or s]vices4  7,e7 ,provid+
 f9ancial grants1 loans1 or direct      
f9ancial inve/m5t 9 companies t are     
comm]cializ+ te*nology4  7b7 ,grant     
program au?oriz$  7#a7 ,9 g5]al ,ea*    
,f$]al ag5cy t has an extramural budget 
= rese>* or rese>* & developm5t t is 9  
excess ( #ajj1jjj1jjj = ea* ( ! fiscal  
ye>s #bjbj ?r\gh #bjbd1 %all transf]    
#j4ae p]c5t ( su* extramural budget =   
ea* ( su* fiscal ye>s to ! ,secret>y to 
enable ! ,secret>y to c>ry out a grant  
program 9 accordance ) ?is subsection4  
7#b7 ,grants  7,a7 ,aw>d+ ( grants  7i7 

,9 g5]al ,f funds transf]r$ pursuant to 
p>agraph 7#a71 ! ,secret>y %all use !   
crit]ia develop$ by ! ,c\ncil to aw>d   
grants to eligible entities =           
initiatives to improve comm]cialization 
& transf] ( te*nology4  7ii7 ,reque/ =  
proposals ,n lat] ?an #cj days aft] !   
,c\ncil submits ! recomm5dations =      
crit]ia to ! ,secret>y "u subsection    
7c77#d77;,b71 & annually !reaft] = ea*  
fiscal ye> = :i* ! grant program is     
au?oriz$1 ! ,secret>y %all release a    
reque/ = proposals4  7iii7 ,applications
 ,eligible entities t desire to receive 
a grant "u ?is subsection %all submit an
 application to ! ,secret>y n lat] ?an  
#ij days aft] ! ,secret>y releases !    
reque/ = proposals "u clause 7ii74  7iv7
 ,c\ncil review  7,i7 ,9 g5]al ,!       
,secret>y %all submit ea* application   
receiv$ "u clause 7iii7 to ! ,c\ncil =  
,c\ncil review4  7,,ii7 ,recomm5dations 
,! ,c\ncil %all review ea* application  
receiv$ "u subclause 7,i7 & submit      
recomm5dations = grant aw>ds to !       

,secret>y1 includ+ fund+ recomm5dations 
= ea* proposal4  7,,iii7 ,public release
 ,! ,c\ncil %all publicly release any   
recomm5dations made "u subclause 7,,ii74
  7,,iv7 ,consid]ation ( recomm5dations 
,9 aw>d+ grants "u ?is subsection1 !    
,secret>y %all take into consid]ation ! 
recomm5dations ( ! ,c\ncil "u subclause 
7,,ii74  7,b7 ,comm]cialization capacity
 build+ grants  7i7 ,9 g5]al ,!         
,secret>y %all aw>d grants to eligible  
entities to support specific innovative 
initiatives to improve ! regional       
capacity = private companies1 faculty1  
/aff1 & /ud5ts ( in/itutions ( high]    
education1 or entrepr5eurs to           
comm]cialize te*nology orig9at+ f       
f$]ally fund$ rese>*4  7ii7 ,cont5t (   
proposals ,grants %all be aw>d$ "u ?is  
subp>agraph =-- 7,i7 proposals          
demon/rat+ ! capacity = accel]at$       
comm]cialization1 pro(-(-concept        
profici5cy1 & translat+ sci5tific       
discov]ies & cutt+-edge inv5tions into  
te*nological innovations & new          

companies2 &  7,,ii7 innovative         
approa*es to a*iev+ ! goals ref]r$ to 9 
subclause 7,i7 t c be replicat$ by o!r  
in/itutions ( high] education or v5ture 
developm5t organizations if ! innovative
 approa*es are successful4  7#c7        
,assessm5t ( success ,grants aw>d$ "u   
?is subsection %all use crit]ia =       
assess+ ! success ( programs ?r\gh !    
e/abli%m5t ( b5*m>ks4  7#d7 ,t]m9ation  
,! ,secret>y is au?oriz$ to t]m9ate     
grant fund+ to an eligible entity 9     
accordance ) ! process & p]=mance       
metrics recomm5d$ by ! ,c\ncil4  7#e7   
,limitations  7,a7 ,project managem5t   
co/s ,a grant recipi5t may use n m ?an  
#aj p]c5t ( grant funds aw>d$ "u ?is    
subsection = ! purpose ( fund+ project  
managem5t co/s ( ! grant program4  7,b7 
,supplem5t1 n supplant ,an eligible     
entity t receives a grant "u ?is        
subsection %all use ! grant funds to    
supplem5t1 & n to supplant1 non-,f$]al  
funds t w\ld1 9 ! abs5ce ( su* grant    
funds1 be made available = activities   

describ$ 9 ?is section4  7#f7 ,unsp5t   
funds ,any funds transf]r$ to !         
,secret>y "u p>agraph 7#a7 = a fiscal   
ye> t are n exp5d$ by ! end ( su* fiscal
 ye> may be exp5d$ 9 any subsequ5t      
fiscal ye> ?r\gh fiscal ye> #bjbd4 ,any 
funds transf]r$ "u p>agraph 7#a7 t are  
rema9+ at ! end ( ! grant program's     
au?orization "u ?is subsection %all be  
transf]r$ to ! ,treasury = deficit      
r$uction4  7c7 ,c\ncil  7#a7 ,9 g5]al ,n
 lat] ?an #abj days aft] ! date ( !     
enactm5t ( ?is ,act1 ! ,c\ncil %all     
conv5e & develop recomm5dations =       
crit]ia 9 aw>d+ grants to eligible      
entities "u subsection 7b74  7#b7       
,submission to dep>tm5t ( comm]ce &     
public release ,! ,c\ncil %all-- 7,a7   
submit ! recomm5dations describ$ 9      
p>agraph 7#a7 to ! ,secret>y2 &  7,b7   
release ! recomm5dations to ! public4   
7#c7 ,majority vote ,! recomm5dations   
submitt$ by ! ,c\ncil "u p>agraph 7#b7  
%all be det]m9$ by a majority vote (    
,c\ncil memb]s4  7#d7 ,p]=mance metrics 

,! ,c\ncil %all develop & provide to !  
,secret>y recomm5dations on p]=mance    
metrics to be us$ to evaluate grants    
aw>d$ "u subsection 7b74  7#e7          
,evaluation  7,a7 ,9 g5]al ,n lat] ?an  
#ahj days be=e ! expiration ( ! grant   
program au?oriz$ "u subsection 7b71 !   
,c\ncil %all evaluate ! effect ( ! grant
 program on accel]at+ ! comm]cialization
 ( te*nology orig9at+ f f$]ally fund$   
rese>* or rese>* & developm5t4  7,b7    
,inclusions ,! evaluation "u subp>agraph
 7,a7 %all include--  7i7 !             
recomm5dation ( ! ,c\ncil z to :e!r !   
grant program %\ld be cont9u$ or        
t]m9at$2  7ii7 quantitative data relat$ 
to ! effect1 if any1 t ! grant program  
has _h on accel]at+ ! comm]cialization (
 te*nology orig9at+ f f$]ally fund$     
rese>* & rese>* & developm5t2 &  7iii7 a
 description ( ! lessons le>n$ 9        
adm9i/]+ ! grant program1 & h[ su*      
lessons c\ld be appli$ to future ef=ts  
to accel]ate ! comm]cialization (       
te*nology orig9at+ f f$]ally fund$      

rese>* or rese>* & developm5t4  7,c7    
,availability ,! results ( ! evaluation 
"u subp>agraph 7,a7 %all be made        
available on a public website & submitt$
 to ,congress4 ,! ,secret>y %all notify 
all in/itutions ( high] education :5 !  
evaluation is publi%$ & h[ x c be       
access$4  7d7 ,rule ( con/ruction ,no?+ 
9 ?is section may be con/ru$ to alt]1   
modify1 or am5d any provision ( *apt]   
#ah ( title #ce1 ,unit$ ,/ates ,code    
7commonly kn[n z ! ,bayh-,dole ,act74   
#g4 ,regional innovation program        
,section #bg ( ! ,/ev5son-,wydl]        
,te*nology ,innovation ,act ( #aihj 7#ae
 ,u4,s4,c4 #cgbb7 is am5d$ to read z    
foll[s3  #bg4 ,regional innovation      
program  7a7 ,def9itions ,9 ?is section3
 7#a7 ,eligible recipi5t def9$ ,! t]m   
eligible recipi5t means--  7,a7 a ,/ate2
  7,b7 an ,indian tribe2  7,c7 a city or
 o!r political subdivision ( a ,/ate2   
7,d7 an entity t is a nonpr(it          
organization1 an in/itution ( high]     
education1 a public-private p>tn]%ip1 a 

sci5ce or rese>* p>k1 a ,f$]al          
laboratory1 a v5ture developm5t         
organization 7z def9$ 9 section #f7;a7 (
 ! ,/>tup ,act71 or an economic         
developm5t organization or simil> entity
 t is focus$ prim>ily on improv+ sci5ce1
 te*nology1 innovation1 &               
entrepr5eur%ip2 or  7,e7 a consortium ( 
any ( ! entities describ$ 9 subp>agraphs
 7,a7 ?r\gh 7,d74  7#b7 ,regional       
innovation initiative ,! t]m regional   
innovation initiative means a public or 
nonpr(it activity or program implem5t$ 9
 a specific geographic area to address  
issues ( greate/ ne$ 9 ! local          
innovation sy/ems--  7,a7 to increase ! 
success ( innovation-driv5 />tups2  7,b7
 to /r5g!n ! competitiv5ess ( exi/+     
bus9esses ?r\gh new product innovation2 
7,c7 to improve ! pace ( m>ket read9ess 
& ov]all comm]cialization ( innovation2 
&  7,d7 to enhance ! ov]all innovation  
capacity & long-t]m resili5ce ( !       
region4  7#c7 ,/ate ,! t]m ,/ate means  
"o ( ! sev]al ,/ates ( ! ,unit$ ,/ates1 

! ,di/rict ( ,columbia1 ! ,commonweal? (
 ,pu]to ,rico1 ! ,unit$ ,/ates ,virg9   
,isl&s1 ,guam1 ,am]ican ,samoa1 !       
,commonweal? ( ! ,nor!rn ,m>iana ,isl&s1
 or any o!r t]ritory or possession ( !  
,unit$ ,/ates4  7b7 ,e/abli%m5t ,!      
,secret>y %all e/abli% a regional       
innovation program to enc\rage & support
 ! developm5t ( ,/ate & local           
initiatives design$ to increase         
innovation-driv5 economic opportunity )9
 _! respective regions4  7c7 ,regional  
innovation grants  7#a7 ,au?orization ( 
grants ,z "p ( ! program e/abli%$ "u    
subsection 7b71 ! ,secret>y may aw>d    
grants1 on a competitive basis1 to      
eligible recipi5ts = activities design$ 
to /r5g!n ! competitiv5ess ( new & exi/+
 innovation-driv5 bus9esses )9 !        
geographic regions id5tifi$ by eligible 
recipi5ts be=e receiv+ a grant "u ?is   
subsection4  7#b7 ,p]missible activities
 ,grants aw>d$ "u ?is subsection may be 
us$ = activities det]m9$ appropriate by 
! ,secret>y t /rive to a*ieve #c or m ( 

! foll[+ outcomes3  7,a7 ,increas+ !    
availability & inve/m5t ( private &     
philan?ropic f9anc+ t supports          
innovation-bas$ bus9ess v5tures )9      
geographic regions & populations t h    
hi/orically receiv$ less v5ture capital 
?an ! av]age p] capita am\nt ( v5ture   
capital receiv$ by bus9esses ?r\gh\t !  
,unit$ ,/ates dur+ ! previ\s #c ye>s1 z 
det]m9$ by ! ,secret>y4  7,b7 ,complet+ 
! rese>*1 developm5t & introduction (   
new products1 processes1 & s]vices into 
! comm]cial m>ket by ,unit$ ,/ates      
companies1 z measur$ by increas$        
rev5ues1 increas$ sales1 great] m>ket   
%>e1 r$uce co/s1 increas$ m>ket value1  
or ov]all pr(itability increase1 z      
report$ by ! p>ticipat+ companies to !  
,secret>y4  7,c7 ,increas+ ! numb] (    
full-"t equival5t employm5t             
opportunities )9 innovation-bas$ bus9ess
 v5tures 9 ! geographic region t pay    
wages t are high] ?an ! m$ian = !       
geographic region4  7,d7 ,us+           
innovation1 te*nology1 & innovation-bas$

 bus9ess v5tures to help ! public &     
nonpr(it sectors--  7i7 to r$uce co/s   
associat$ ) c>ry+ out _! missions &     
s]vices2 or  7ii7 to a*ieve o!r         
quantifiable effici5cies1 sav+s1 or     
r$uctions 9 c>ry+ out _! op]ations &    
s]vice deliv]y4  7,e7 ,a*iev+           
quantifiable1 positive b5efits to1 or   
measurable enhancem5ts =1 ! economic    
p]=mance ( ! geographic region or !     
population )9 ! region id5tifi$ by !    
regional innovation program grant       
recipi5t ?r\gh increas$ collaboration1  
productive p>tn]%ips1 & /r5g!n$ network 
relation%ips 7int]nal & ext]nal to !    
region7 t support ! regional innovation 
sy/em4  7#c7 ,re/rict$ activities       
,grants aw>d$ "u ?is subsection may n be
 us$ to pay =-- 7,a7 co/s relat$ to !   
con/ruction1 expansion1 demolition1     
r5ovation1 or in/allation ( physical    
assets2  7,b7 co/s relat$ to !          
recruitm5t1 inducem5t1 or associat$     
f9ancial or tangible inc5tives t might  
be (f]$ to relocate an exi/+ bus9ess f a

 geographic area to ano!r geographic    
area2 or  7,c7 co/s associat$ ) (fsett+ 
rev5ues =gone by "o or m tax+ au?orities
 ?r\gh tax inc5tives1 tax increm5t      
f9anc+1 special improvem5t di/ricts1 tax
 abatem5ts = private developm5t )9      
designat$ zones or geographic areas1 or 
o!r r$uction 9 rev5ues result+ f tax    
cr$its affect+ ! geographic region ( !  
eligible recipi5ts4  7#d7 ,applications 
7,a7 ,9 g5]al ,an eligible recipi5t %all
 submit an application to ! ,secret>y at
 su* "t1 9 su* mann]1 & conta9+ su*     
in=mation & assurances z ! ,secret>y may
 require4  7,b7 ,compon5ts ,ea*         
application submitt$ "u subp>agraph 7,a7
 %all include a description ( ! regional
 innovation initiative support$ by !    
propos$ activity1 includ+--  7i7 :e!r ! 
regional innovation initiative is       
support$ by ! private sector1 ,/ate &   
local gov]nm5ts1 & o!r relevant         
/akehold]s2  7ii7 :i* #c or m ( !       
outcomes describ$ 9 p>agraph 7#b7 w !   
regional innovation initiative address  

by implem5t+ ! activities describ$ 9 !  
application2  7iii7 :at activities !    
regional innovation initiative w        
und]take & h[ ^? activities w a*ieve !  
outcomes describ$ 9 p>agraph 7#b72  7iv7
 h[ ! eligible recipi5t w measure       
progress t[>d1 & atta9m5t (1 ! outcomes 
address$ by ! regional innovation       
initiative2  7v7 :e!r ! p>ticipants 9 ! 
regional innovation initiative h access 
to1 or contribute to1 a well-tra9$      
work=ce & o!r innovation assets t are   
critical to ! successful outcomes       
specifi$ 9 ! application2  7vi7 :e!r !  
p>ticipants 9 ! regional innovation     
initiative are capable ( attract+       
additional funds f non-,f$]al s\rces2 & 
7vii7 if appropriate = ! activities     
propos$ 9 ! application1 ! likelihood t 
! p>ticipants 9 ! regional innovation   
initiative w be able to su/a9 activities
 aft] grant funds receiv$ "u ?is        
subsection h be5 exp5d$4  7,c7 ,fe$back 
,! ,secret>y %all provide fe$back to    
program applicants t are n aw>d$ grants 

to help !m improve future applications4 
7,d7 ,special consid]ations ,! ,secret>y
 %all give special consid]ation to-- 7i7
 applications propos+ to include work=ce
 or tra9+ relat$ activities 9 _!        
regional innovation initiative f        
eligible recipi5ts :o agree to          
collaborate ) local work=ce inve/m5t    
area bo>ds2 &  7ii7 applications f      
regions t conta9 communities negatively 
impact$ by trade4  7#e7 ,co/ %>e ,!     
,secret>y may n provide m ?an #ej p]c5t 
( ! total co/ ( any activity fund$ "u   
?is subsection4  7#f7 ,outrea* to rural 
communities ,! ,secret>y %all conduct   
outrea* to public & private sector      
entities 9 rural communities to enc\rage
 ^? entities to p>ticipate 9 regional   
innovation initiatives "u ?is           
subsection4  7#g7 ,fund+ ,! ,secret>y   
may accept funds f o!r ,f$]al ag5cies to
 support grants & activities "u ?is     
subsection4  7d7 ,regional innovation   
rese>* & in=mation program  7#a7 ,9     
g5]al ,z "p ( ! program e/abli%$ "u     

subsection 7b71 ! ,secret>y %all e/abli%
 a regional innovation rese>* &         
in=mation program--  7,a7 to ga!r1      
analyze1 & dissem9ate in=mation on be/  
practices = regional innovation         
initiatives1 includ+ in=mation relat+ to
 h[ innovation1 productivity1 & economic
 developm5t c be maximiz$ ?r\gh su*     
/rategies2  7,b7 to provide te*nical    
assi/ance1 includ+ ?r\gh ! developm5t ( 
te*nical assi/ance guides1 = !          
developm5t & implem5tation ( regional   
innovation initiatives2  7,c7 to support
 ! developm5t ( relevant metrics &      
measurem5t /&>ds to evaluate regional   
innovation initiatives1 includ+ ! ext5t 
to :i* su* /rategies /imulate           
innovation1 productivity1 & economic    
developm5t2 &  7,d7 to collect & make   
available data on regional innovation   
initiatives 9 ! ,unit$ ,/ates1 includ+  
data on--  7i7 ! size1 specialization1 &
 competitiv5ess ( regional innovation   
initiatives2  7ii7 ! regional dome/ic   
product contribution1 total jobs & e>n+s

 by key occupations1 e/abli%m5t size1   
nature ( specialization1 pat5ts1 ,f$]al 
rese>* & developm5t sp5d+1 & o!r        
relevant in=mation = regional innovation
 initiatives2 &  7iii7 supply *a9       
product & s]vice fl[s )9 & betwe5       
regional innovation initiatives4  7#b7  
,rese>* grants ,! ,secret>y may aw>d    
rese>* grants on a competitive basis to 
support & fur!r ! goals ( ! program     
e/abli%$ "u ?is section4  7#c7          
,dissem9ation ( in=mation ,data &       
analysis compil$ by ! ,secret>y "u !    
program e/abli%$ 9 ?is subsection %all  
be made available to o!r ,f$]al ag5cies1
 ,/ate & local gov]nm5ts1 & nonpr(it &  
=-pr(it entities4  7#d7 ,regional       
innovation grant program ,! ,secret>y   
%all incorporate data & analysis relat+ 
to any grant aw>d$ "u subsection 7c7    
into ! program e/abli%$ "u ?is          
subsection4  7e7 ,int]ag5cy coord9ation 
7#a7 ,9 g5]al ,to ! maximum ext5t       
practicable1 ! ,secret>y %all ensure t !
 activities c>ri$ out "u ?is section are

 coord9at$ )1 & d n duplicate ! ef=ts (1
 o!r programs at ! ,dep>tm5t ( ,comm]ce 
or at o!r ,f$]al ag5cies4  7#b7         
,collaboration  7,a7 ,9 g5]al ,!        
,secret>y %all explore & pursue         
collaboration ) o!r ,f$]al ag5cies1     
includ+ ?r\gh multiag5cy fund+          
opportunities1 on regional innovation   
/rategies4  7,b7 ,small bus9esses ,!    
,secret>y %all ensure t su*             
collaboration ) ,f$]al ag5cies          
prioritizes ! ne$s & *all5ges ( small   
bus9esses4  7f7 ,evaluation  7#a7 ,9    
g5]al ,n lat] ?an #e ye>s aft] ,congress
 appropriates funds to c>ry out ?is     
section1 ! ,secret>y %all competitively 
aw>d a contract ) an indep5d5t entity to
 conduct an evaluation ( programs       
e/abli%$ "u ?is section4  7#b7          
,requirem5ts ,! evaluation conduct$ "u  
p>agraph 7#a7 %all include-- 7,a7 an    
assessm5t ( :e!r ! program is a*iev+ its
 goals2  7,b7 ! program's efficacy 9    
provid+ aw>ds to geographically div]se  
entities2  7,c7 any recomm5dations = h[ 

! program may be improv$2 &  7,d7 a     
recomm5dation z to :e!r ! program %\ld  
be cont9u$ or t]m9at$4  7g7 ,report+    
requirem5t ,n lat] ?an #a ye> aft] !    
fir/ grant is aw>d$ "u subsection 7c7 & 
annually !reaft] until #e ye>s aft] !   
la/ grant recipi5t completes ! regional 
innovation initiative = :i* su* grant 0 
aw>d$1 ! ,secret>y %all submit a report 
to ,congress t describes ! outcome ( ea*
 regional innovation initiative t 0     
complet$ dur+ ! previ\s #e ye>s4  7h7   
,fund+ ,f am\nts appropriat$ by         
,congress = economic developm5t         
assi/ance programs1 ! ,secret>y may use 
up to #ajj1jjj1jjj 9 ea* ( ! fiscal ye>s
 #bjbj ?r\gh #bjbd to c>ry out ?is      
section4  4  #h4 ,economic impact (     
significant ,f$]al ag5cy rules ,section 
#eec ( title #e1 ,unit$ ,/ates ,code1 is
 am5d$ by add+ at ! end ! foll[+3  7f7  
,requir$ review be=e issuance (         
significant rules  7#a7 ,def9$ t]m ,9   
?is subsection ! t]m significant rule   
means a rule t is likely--  7,a7 to h an

 annual effect on ! economy (           
#ajj1jjj1jjj or m2  7,b7 to adv]sely    
affect1 9 a mat]ial way1 ! economy1 a   
sector ( ! economy1 productivity1       
competition1 jobs1 ! environm5t1 public 
heal? or safety1 or ,/ate1 local1 or    
tribal gov]nm5ts or communities2 or     
7,c7 to create a s]i\s inconsi/5cy or   
o!rwise int]f]e ) an action tak5 or     
plann$ by ano!r ag5cy4  7#b7 ,review    
,be=e issu+ a notice ( propos$ rulemak+ 
9 ! ,f$]al ,regi/] reg>d+ ! issuance ( a
 significant rule1 ! head ( ! ,f$]al    
ag5cy or indep5d5t regulatory ag5cy     
seek+ to issue ! rule %all complete a   
review1 to ! ext5t p]mitt$ by law1 t--  
7,a7 analyzes ! problem t ! propos$ rule
 int5ds to address1 includ+--  7i7 !    
specific m>ket failure1 su* z           
ext]nalities1 m>ket p[]1 or lack (      
in=mation1 t ju/ifies su* rule2 or  7ii7
 any o!r specific problem1 su* z !      
failures ( public in/itutions1 t        
ju/ifies su* rule2  7,b7 analyzes !     
expect$ impact ( ! propos$ rule on !    

ability ( new bus9esses to =m & exp&2   
7,c7 id5tifies ! expect$ impact ( !     
propos$ rule on ,/ate1 local1 & tribal  
gov]nm5ts1 includ+ ! availability (     
res\rces--  7i7 to c>ry out ! m&ates    
impos$ by ! rule on su* gov]nm5t        
entities2 &  7ii7 to m9imize ! burd5s t 
uniquely or significantly affect su*    
gov]nm5tal entities1 consi/5t ) a*iev+  
regulatory objectives2  7,d7 id5tifies  
any conflict+ or duplicative            
regulations2  7,e7 det]m9es-- 7i7 if    
exi/+ laws or regulations creat$1 or    
contribut$ to1 ! problem t ! new rule is
 int5d$ to correct2 &  7ii7 if ! laws or
 regulations ref]r$ to 9 clause 7i7 %\ld
 be modifi$ to m effectively a*ieve !   
int5d$ goal ( ! rule2 &  7,f7 includes !
 co/-b5efit analysis describ$ 9 p>agraph
 7#c74  7#c7 ,co/-b5efit analysis ,a    
co/-b5efit analysis describ$ 9 ?is      
p>agraph %all include--  7,a7 7i7 an    
assessm5t1 includ+ ! und]ly+ analysis1 (
 b5efits anticipat$ f ! propos$ rule1   
su* z--  7,i7 promot+ ! effici5t        

function+ ( ! economy & private m>kets2 
7,,ii7 enhanc+ heal? & safety2  7,,iii7 
protect+ ! natural environm5t2 &  7,,iv7
 elim9at+ or r$uc+ discrim9ation or     
bias2 &  7ii7 ! quantification ( !      
b5efits describ$ 9 clause 7i71 to !     
ext5t feasible2  7,b7 7i7 an assessm5t1 
includ+ ! und]ly+ analysis1 ( co/s      
anticipat$ f ! propos$ rule1 su* z--    
7,i7 ! direct co/s to ! ,f$]al ,gov]nm5t
 to adm9i/] ! rule2  7,,ii7 ! direct    
co/s to bus9esses & o!rs to comply ) !  
rule2 &  7,,iii7 any adv]se effects on !
 effici5t function+ ( ! economy1 private
 m>kets 7includ+ productivity1          
employm5t1 & competitiv5ess71 heal?1    
safety1 & ! natural environm5t2 &  7ii7 
! quantification ( ! co/s describ$ 9    
clause 7i71 to ! ext5t feasible2  7,c7  
7i7 an assessm5t1 includ+ ! und]ly+     
analysis1 ( co/s & b5efits ( pot5tially 
effective & reasonably feasible         
alt]natives to ! propos$ rule1 :i* h be5
 id5tifi$ by ! ag5cy or by ! public1    
includ+ tak+ reasonably viable          

nonregulatory actions2 &  7ii7 an       
explanation ( :y ! propos$ rule is      
pref]able to ! alt]natives id5tifi$ "u  
clause 7i74  7#d7 ,report ,be=e issu+ a 
notice ( propos$ rulemak+ 9 ! ,f$]al    
,regi/] reg>d+ ! issuance ( a           
significant rule1 ! head ( ! ,f$]al     
ag5cy or indep5d5t regulatory ag5cy     
seek+ to issue ! rule %all--  7,a7      
submit ! results ( ! review conduct$ "u 
p>agraph 7#b7 to ! appropriate          
congressional committees2 &  7,b7 po/ ! 
results ( ! review conduct$ "u p>agraph 
7#b7 on a publicly available website4   
7#e7 ,judicial review ,any det]m9ations 
made1 or o!r actions tak51 by an ag5cy  
or indep5d5t regulatory ag5cy "u ?is    
subsection %all n be subject to judicial
 review4  4  #i4 ,bi5nial ,/ate />tup   
bus9ess report  7a7 ,data collection ,! 
,secret>y ( ,comm]ce %all regul>ly      
compile in=mation f ea* ( ! #ej ,/ates &
 ! ,di/rict ( ,columbia on ,/ate laws t 
affect ! =mation & gr[? ( new bus9esses 
)9 ! ,/ate or ,di/rict4  7b7 ,report ,n 

lat] ?an #ah mon?s aft] ! date ( !      
enactm5t ( ?is ,act1 & e #b ye>s        
!reaft]1 ! ,secret>y ( ,comm]ce1 us+    
data compil$ "u subsection 7a71 %all    
prep>e a report t--  7#a7 analyzes !    
economic effect ( ,/ate & ,di/rict laws 
t ei!r enc\rage or inhibit bus9ess      
=mation & gr[?2 &  7#b7 ranks ! ,/ates &
 ! ,di/rict bas$ on ! effectiv5ess ) :i*
 _! laws fo/] new bus9ess creation &    
economic gr[?4  7c7 ,di/ribution ,!     
,secret>y ( ,comm]ce %all--  7#a7 submit
 ea* report prep>$ "u subsection 7b7 to 
,congress2 &  7#b7 make ea* report      
available to ! public on ! website ( !  
,dep>tm5t ( ,comm]ce4  7d7 ,inclusion ( 
l>ge metropolitan areas ,n lat] ?an #ij 
days aft] ! submission ( ! fir/ report  
"u ?is section1 ! ,secret>y ( ,comm]ce  
%all submit to ,congress a /udy on !    
feasibility & advisability ( includ+1 9 
future reports1 in=mation ab\t ! effect 
( local laws & ord9ances on ! =mation & 
gr[? ( new bus9esses 9 l>ge metropolitan
 areas )9 ! ,unit$ ,/ates4  7e7         

,au?orization ( appropriations ,!re are 
au?oriz$ to be appropriat$ su* sums z   
may be necess>y to c>ry out ?is section4
  #aj4 ,new bus9ess =mation report  7a7 
,9 g5]al ,! ,secret>y ( ,comm]ce %all   
regul>ly compile quantitative &         
qualitative in=mation on bus9esses 9 !  
,unit$ ,/ates t are n m ?an #a ye> old4 
7b7 ,data collection ,! ,secret>y (     
,comm]ce %all-- 7#a7 regul>ly compile   
in=mation f ! ,bureau ( ! ,c5sus'       
bus9ess regi/] on new bus9ess =mation 9 
! ,unit$ ,/ates2 &  7#b7 conduct qu>t]ly
 surveys ( bus9ess own]s :o />t a       
bus9ess dur+ ! #a-ye> p]iod end+ on !   
date on :i* su* survey is conduct$ to   
ga!r qualitative in=mation ab\t !       
factors t influ5c$ _! decision to />t ! 
bus9ess4  7c7 ,r&om sampl+ ,9 conduct+  
surveys "u subsection 7b77#b71 !        
,secret>y may use r&om sampl+ to id5tify
 a gr\p ( bus9ess own]s :o are          
repres5tative ( all ! bus9ess own]s     
describ$ 9 subsection 7b77#b74  7d7     
,b5efits ,! ,secret>y ( ,comm]ce %all   

in=m bus9ess own]s select$ to p>ticipate
 9 a survey conduct$ "u ?is section ( ! 
b5efits !y w\ld receive f p>ticipat+ 9 !
 survey4  7e7 ,volunt>y p>ticipation    
,bus9ess own]s select$ to p>ticipate 9 a
 survey conduct$ "u ?is section may     
decl9e to p>ticipate )\t p5alty4  7f7   
,report ,n lat] ?an #ah mon?s aft] !    
date ( ! enactm5t ( ?is ,act1 & e #c    
mon?s !reaft]1 ! ,secret>y ( ,comm]ce   
%all use ! data compil$ "u subsection   
7b7 to prep>e a report t--  7#a7 li/s ! 
aggregate numb] ( new bus9esses =m$ 9 ! 
,unit$ ,/ates2  7#b7 li/s ! aggregate   
numb] ( p]sons employ$ by new bus9esses 
=m$ 9 ! ,unit$ ,/ates2  7#c7 analyzes ! 
payroll ( new bus9esses =m$ 9 ! ,unit$  
,/ates2  7#d7 summ>izes ! data collect$ 
"u subsection 7b72 &  7#e7 id5tifies !  
mo/ effective means by :i* gov]nm5t     
(ficials c enc\rage ! =mation & gr[? (  
new bus9esses 9 ! ,unit$ ,/ates4  7g7   
,di/ribution ,! ,secret>y ( ,comm]ce    
%all--  7#a7 submit ea* report prep>$ "u
 subsection 7f7 to ,congress2 &  7#b7   

make ea* report available to ! public on
 ! website ( ! ,dep>tm5t ( ,comm]ce4    
7h7 ,au?orization ( appropriations ,!re 
are au?oriz$ to be appropriat$ su* sums 
z may be necess>y to c>ry out ?is       
section4  #aa4 ,rescission ( unsp5t     
,f$]al funds  7a7 ,9 g5]al ,not)/&+ any 
o!r provision ( law1 ( all available    
unobligat$ funds = fiscal ye> #bjai1 !  
am\nt necess>y to c>ry out ?is ,act & ! 
am5dm5ts made by ?is ,act 9 appropriat$ 
discretion>y funds are h]eby resc9d$4   
7b7 ,implem5tation ,! ,director ( !     
,(fice ( ,managem5t & ,budget %all      
det]m9e & id5tify f :i* appropriation   
acc\nts ! rescission "u subsection 7a7  
%all apply & ! am\nt ( su* rescission t 
%all apply to ea* su* acc\nt4  7c7      
,report ,n lat] ?an #fj days aft] ! date
 ( ! enactm5t ( ?is ,act1 ! ,director ( 
! ,(fice ( ,managem5t & ,budget %all    
submit a report to ! ,secret>y ( !      
,treasury & ,congress ( ! acc\nts &     
am\nts det]m9$ & id5tifi$ = rescission  
"u subsection 7b74