,,ii #aafth ,,congress #b;d ,session ,s4 #cbhi ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #ac1 #bjbj,ms4 ,cortez ,masto 7for herself1 ,mr4 ,young1 and ,mr4 ,coons7 introduced the following bill2 which was read twice and referred to the ,committee on ,small ,business and ,entrepreneurship ,a ,,bill ,to require the ,administrator of the ,small ,business ,administration to establish an ,innovation ,voucher ,grant ,program4 #a4 ,short title ,this ,act may be cited as the ,small ,business ,innovation ,voucher ,act of #bjbj4 #b4 ,definitions ,in this ,act3 7#a7 ,administrator ,the term ,administrator means the ,administrator of the ,small ,business ,administration4 7#b7 ,eligible entity ,the term eligible entity means-- 7,a7 an institution of higher education1 as defined in section #aja of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajja72 or 7,b7 a nonprofit research lab1 institution1 or other similar organization in the ,united ,states associated with educational or research activities1 including a federally funded research and development center4 7#c7 ,h,u,b,zone ,the term ,h,u,b,zone has the meaning given the term in section #ca7;b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #feg;a7b774 7#d7 ,program ,the term ,program means the ,innovation ,voucher ,grant ,program established under section #c4 7#e7 ,reservist ,the term ,reservist means a member of a reserve component of the ,armed ,forces named in section #ajaja of title #aj1 ,united ,states ,code4 7#f7 ,rural area ,the term rural area means any county that the ,bureau of the ,census has defined as mostly rural or completely rural in the most recent decennial census4 7#g7 ,service-connected ,the term service-connected has the meaning given the term in section #aja of title #ch1 ,united ,states ,code4 7#h7 ,small business concern2 small business concern owned and controlled by veterans2 small business concern owned and controlled by women ,the terms small business concern1 small business concern owned and controlled by veterans1 and small business concern owned and controlled by women have the meanings given those terms in section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb74 7#i7 ,small business concern in an underserved market ,the term small business concern in an underserved market means a small business concern-- 7,a7 that is located in-- 7i7 a low- to moderate-income community2 7ii7 a ,h,u,b,zone2 7iii7 a community that has been designated as an empowerment zone or an enterprise community under section #acia of the ,internal ,revenue ,code of #aihf2 7iv7 a community that has been designated as a ,promise ,zone by the ,secretary of ,housing and ,urban ,development2 7v7 a community that has been designated as a qualified opportunity zone under section #adjj,z-#a of the ,internal ,revenue ,code of #aihf2 or 7vi7 a rural area2 7,b7 for which more than #ej percent of the employees reside in a low- to moderate-income community2 7,c7 that has been in existence for not more than #b years2 7,d7 owned and controlled by socially and economically disadvantaged individuals1 including minorities2 7,e7 owned and controlled by women2 7,f7 owned and controlled by veterans2 7,g7 owned and controlled by service-disabled veterans2 or 7,h7 not less than #ea percent owned and controlled by #a or more-- 7i7 members of the ,armed ,forces participating in the ,transition ,assistance ,program of the ,department of ,defense2 7ii7 ,reservists2 7iii7 spouses of veterans1 members of the ,armed ,forces1 or ,reservists2 or 7iv7 surviving spouses of veterans who died on active duty or as a result of a service-connected disability4 7#aj7 ,small business concern owned and controlled by socially and economically disadvantaged individuals ,the term small business concern owned and controlled by socially and economically disadvantaged individuals has the meaning given the term in section #h7;d77#c77;,c7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcg7;d77#c77;,c774 #c4 ,innovation ,voucher ,grant ,program 7a7 ,establishment ,not later than #ahj days after the date of enactment of this ,act1 the ,administrator shall establish a program to be known as the ,innovation ,voucher ,grant ,program under which the ,administrator shall1 on a competitive basis and in accordance with subsection 7g71 award to small business concerns grants for the ,federal share of the cost of purchasing from eligible entities technical assistance and services necessary to carry out projects to advance research1 development1 or commercialization of new or innovative products and services4 7b7 ,purposes of program ,the purposes of the ,program are-- 7#a7 to foster collaboration between small business concerns and research institutions or other similar organizations2 7#b7 to facilitate access by small business concerns to capital-intensive infrastructure and advanced research capabilities2 7#c7 to enable small business concerns to access technical expertise and capabilities that will lead to the development of innovative products2 7#d7 to promote business dynamism and competition2 7#e7 to stimulate ,united ,states leadership in advanced research1 innovation1 and technology2 7#f7 to accelerate the development of an advanced workforce2 and 7#g7 to preserve and create new jobs4 7c7 ,application 7#a7 ,in general ,a small business concern desiring a grant under the ,program shall submit to the ,administrator an application with the eligible entity from which the small business concern will purchase technical assistance and services using funds awarded under the grant4 7#b7 ,selection ,not later than #ahj days after the deadline established by the ,administrator to submit applications under paragraph 7#a71 the ,administrator shall select the recipients of the grants under the ,program4 7d7 ,evaluation ,in evaluating an application for a grant under the ,program1 the ,administrator shall take into consideration-- 7#a7 the likelihood that funds awarded under the grant will be used to create or advance a novel product or service2 7#b7 the feasibility of creating or advancing a novel product or service proposed to be created or advanced using funds awarded under the grant2 and 7#c7 whether creating or advancing a product or service proposed to be created or advanced using funds awarded under the grant could be accomplished without a grant awarded under the ,program4 7e7 ,amount ,a grant made under the ,program shall be made in an amount of not less than #ae1jjj and not more than #ge1jjj1 which shall remain available to the grantee until expended4 7f7 ,amounts for small business concerns 7#a7 ,in general ,except to the extent that the ,administrator determines otherwise1 not less than #dj percent of the amounts made available for the ,program in a fiscal year shall be set aside and expended through-- 7,a7 a small business concern in an underserved market2 or 7,b7 a small business concern in a region or ,state that has historically been underserved by ,federal research and development funds4 7#b7 ,remaining amount ,any amount that is set aside under paragraph 7#a7 in a fiscal year that is not expended by the end of the fiscal year shall be-- 7,a7 except as provided in subparagraph 7,b71 available in the following fiscal year to make grants to small business concerns described in subparagraphs 7,a7 and 7,b7 in paragraph 7#a72 and 7,b7 on and after ,october #a1 #bjbd1 available to make grants to all small business concerns under the ,program4 7g7 ,federal share ,the ,federal share of the cost of purchasing technical assistance and services described in subsection 7a7 using funds awarded under a grant made under the ,program shall be-- 7#a7 not more than #ge percent1 if the amount of the grant is less than #ej1jjj2 and 7#b7 not more than #ej percent1 if the amount of the grant is not less than #ej1jjj4 7h7 ,reports 7#a7 ,reports from grant recipients ,not later than #ahj days after the date on which a project carried out under a grant awarded under the ,program is completed1 the recipient of the grant shall submit to the ,administrator a report on the project1 including-- 7,a7 whether and how the project met the original expectations for the project2 7,b7 how the results of the project were incorporated in the business of the grant recipient2 and 7,c7 whether and how the project improved innovation practices of the grant recipient4 7#b7 ,report of the ,administrator ,not later than #b years after the date on which the ,administrator establishes the ,program1 and every #b years thereafter until the date on which the amounts appropriated for the ,program are expended1 the ,administrator shall submit to the ,committee on ,small ,business and ,entrepreneurship of the ,senate and the ,committee on ,small ,business of the ,house of ,representatives a report on grants awarded under the ,program1 including-- 7,a7 a description of the grants awarded2 7,b7 the estimated number of products or services created or advanced under grants awarded under the ,program that could have been created or advanced without grants awarded under the ,program2 and 7,c7 a description of the impact of the ,program on knowledge transfer and commercialization4 7#c7 ,final report of the ,administrator ,not later than #ahj days after the date on which amounts appropriated for the ,program are expended1 the ,administrator shall submit to the committees described in paragraph 7#b7 a final report containing the information described in subparagraphs 7,a71 7,b71 and 7,c7 of that paragraph4 #d4 ,authorization of appropriations ,there is authorized to be appropriated to the ,administrator to carry out the ,program #aj1jjj1jjj for each of fiscal years #bjba through #bjbe1 to remain available until expended4