,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #cbhi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,febru>y #ac1 #bjbj,ms4
 ,cortez ,ma/o 7= h]self1 ,mr4 ,"y1 &   
,mr4 ,coons7 introduc$ ! foll[+ bill2   
:i* 0 read twice & ref]r$ to !          
,committee on ,small ,bus9ess &         
,entrepr5eur%ip  ,a ,,bill  ,to require 
! ,adm9i/rator ( ! ,small ,bus9ess      
,adm9i/ration to e/abli% an ,innovation 
,v\*] ,grant ,program4  #a4 ,%ort title 
,?is ,act may be cit$ z ! ,small        
,bus9ess ,innovation ,v\*] ,act ( #bjbj4
  #b4 ,def9itions ,9 ?is ,act3 7#a7     
,adm9i/rator ,! t]m ,adm9i/rator means !
 ,adm9i/rator ( ! ,small ,bus9ess       
,adm9i/ration4  7#b7 ,eligible entity ,!
 t]m eligible entity means-- 7,a7 an    
in/itution ( high] education1 z def9$ 9 
section #aja ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajja72 or  7,b7 
a nonpr(it rese>* lab1 in/itution1 or   
o!r simil> organization 9 ! ,unit$      
,/ates associat$ ) educational or rese>*
 activities1 includ+ a f$]ally fund$    

rese>* & developm5t c5t]4  7#c7         
,h,u,b,zone ,! t]m ,h,u,b,zone has !    
mean+ giv5 ! t]m 9 section #ca7;b7 ( !  
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#feg;a7b774  7#d7 ,program ,! t]m       
,program means ! ,innovation ,v\*]      
,grant ,program e/abli%$ "u section #c4 
7#e7 ,res]vi/ ,! t]m ,res]vi/ means a   
memb] ( a res]ve compon5t ( ! ,arm$     
,=ces nam$ 9 section #ajaja ( title #aj1
 ,unit$ ,/ates ,code4  7#f7 ,rural area 
,! t]m rural area means any c\nty t !   
,bureau ( ! ,c5sus has def9$ z mo/ly    
rural or completely rural 9 ! mo/ rec5t 
dec5nial c5sus4  7#g7 ,s]vice-connect$  
,! t]m s]vice-connect$ has ! mean+ giv5 
! t]m 9 section #aja ( title #ch1 ,unit$
 ,/ates ,code4  7#h7 ,small bus9ess     
conc]n2 small bus9ess conc]n own$ &     
controll$ by vet]ans2 small bus9ess     
conc]n own$ & controll$ by wom5 ,! t]ms 
small bus9ess conc]n1 small bus9ess     
conc]n own$ & controll$ by vet]ans1 &   
small bus9ess conc]n own$ & controll$ by
 wom5 h ! mean+s giv5 ^? t]ms 9 section 

#c ( ! ,small ,bus9ess ,act 7#ae        
,u4,s4,c4 #fcb74  7#i7 ,small bus9ess   
conc]n 9 an und]s]v$ m>ket ,! t]m small 
bus9ess conc]n 9 an und]s]v$ m>ket means
 a small bus9ess conc]n-- 7,a7 t is     
locat$ 9-- 7i7 a l[- to mod]ate-income  
community2  7ii7 a ,h,u,b,zone2  7iii7 a
 community t has be5 designat$ z an     
emp[]m5t zone or an ent]prise community 
"u section #acia ( ! ,int]nal ,rev5ue   
,code ( #aihf2  7iv7 a community t has  
be5 designat$ z a ,promise ,zone by !   
,secret>y ( ,h\s+ & ,urban ,developm5t2 
7v7 a community t has be5 designat$ z a 
qualifi$ opportunity zone "u section    
#adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( 
#aihf2 or  7vi7 a rural area2  7,b7 =   
:i* m ?an #ej p]c5t ( ! employees reside
 9 a l[- to mod]ate-income community2   
7,c7 t has be5 9 exi/5ce = n m ?an #b   
ye>s2  7,d7 own$ & controll$ by socially
 & economically disadvantag$            
individuals1 includ+ m9orities2  7,e7   
own$ & controll$ by wom52  7,f7 own$ &  
controll$ by vet]ans2  7,g7 own$ &      

controll$ by s]vice-disabl$ vet]ans2 or 
7,h7 n less ?an #ea p]c5t own$ &        
controll$ by #a or m-- 7i7 memb]s ( !   
,arm$ ,=ces p>ticipat+ 9 ! ,transition  
,assi/ance ,program ( ! ,dep>tm5t (     
,def5se2  7ii7 ,res]vi/s2  7iii7 sp\ses 
( vet]ans1 memb]s ( ! ,arm$ ,=ces1 or   
,res]vi/s2 or  7iv7 surviv+ sp\ses (    
vet]ans :o di$ on active duty or z a    
result ( a s]vice-connect$ disability4  
7#aj7 ,small bus9ess conc]n own$ &      
controll$ by socially & economically    
disadvantag$ individuals ,! t]m small   
bus9ess conc]n own$ & controll$ by      
socially & economically disadvantag$    
individuals has ! mean+ giv5 ! t]m 9    
section #h7;d77#c77;,c7 ( ! ,small      
,bus9ess ,act 7#ae ,u4,s4,c4            
#fcg7;d77#c77;,c774  #c4 ,innovation    
,v\*] ,grant ,program  7a7 ,e/abli%m5t  
,n lat] ?an #ahj days aft] ! date (     
enactm5t ( ?is ,act1 ! ,adm9i/rator %all
 e/abli% a program to be kn[n z !       
,innovation ,v\*] ,grant ,program "u :i*
 ! ,adm9i/rator %all1 on a competitive  

basis & 9 accordance ) subsection 7g71  
aw>d to small bus9ess conc]ns grants = !
 ,f$]al %>e ( ! co/ ( pur*as+ f eligible
 entities te*nical assi/ance & s]vices  
necess>y to c>ry out projects to advance
 rese>*1 developm5t1 or comm]cialization
 ( new or innovative products & s]vices4
  7b7 ,purposes ( program ,! purposes ( 
! ,program are-- 7#a7 to fo/]           
collaboration betwe5 small bus9ess      
conc]ns & rese>* in/itutions or o!r     
simil> organizations2  7#b7 to          
facilitate access by small bus9ess      
conc]ns to capital-int5sive             
infra/ructure & advanc$ rese>*          
capabilities2  7#c7 to enable small     
bus9ess conc]ns to access te*nical      
exp]tise & capabilities t w lead to !   
developm5t ( innovative products2  7#d7 
to promote bus9ess dynamism &           
competition2  7#e7 to /imulate ,unit$   
,/ates lead]%ip 9 advanc$ rese>*1       
innovation1 & te*nology2  7#f7 to       
accel]ate ! developm5t ( an advanc$     
work=ce2 &  7#g7 to pres]ve & create new

 jobs4  7c7 ,application  7#a7 ,9 g5]al 
,a small bus9ess conc]n desir+ a grant  
"u ! ,program %all submit to !          
,adm9i/rator an application ) ! eligible
 entity f :i* ! small bus9ess conc]n w  
pur*ase te*nical assi/ance & s]vices us+
 funds aw>d$ "u ! grant4  7#b7          
,selection ,n lat] ?an #ahj days aft] ! 
deadl9e e/abli%$ by ! ,adm9i/rator to   
submit applications "u p>agraph 7#a71 ! 
,adm9i/rator %all select ! recipi5ts ( !
 grants "u ! ,program4  7d7 ,evaluation 
,9 evaluat+ an application = a grant "u 
! ,program1 ! ,adm9i/rator %all take    
into consid]ation-- 7#a7 ! likelihood t 
funds aw>d$ "u ! grant w be us$ to      
create or advance a novel product or    
s]vice2  7#b7 ! feasibility ( creat+ or 
advanc+ a novel product or s]vice       
propos$ to be creat$ or advanc$ us+     
funds aw>d$ "u ! grant2 &  7#c7 :e!r    
creat+ or advanc+ a product or s]vice   
propos$ to be creat$ or advanc$ us+     
funds aw>d$ "u ! grant c\ld be          
accompli%$ )\t a grant aw>d$ "u !       

,program4  7e7 ,am\nt ,a grant made "u !
 ,program %all be made 9 an am\nt ( n   
less ?an #ae1jjj & n m ?an #ge1jjj1 :i* 
%all rema9 available to ! grantee until 
exp5d$4  7f7 ,am\nts = small bus9ess    
conc]ns  7#a7 ,9 g5]al ,except to !     
ext5t t ! ,adm9i/rator det]m9es o!rwise1
 n less ?an #dj p]c5t ( ! am\nts made   
available = ! ,program 9 a fiscal ye>   
%all be set aside & exp5d$ ?r\gh-- 7,a7 
a small bus9ess conc]n 9 an und]s]v$    
m>ket2 or  7,b7 a small bus9ess conc]n 9
 a region or ,/ate t has hi/orically be5
 und]s]v$ by ,f$]al rese>* & developm5t 
funds4  7#b7 ,rema9+ am\nt ,any am\nt t 
is set aside "u p>agraph 7#a7 9 a fiscal
 ye> t is n exp5d$ by ! end ( ! fiscal  
ye> %all be-- 7,a7 except z provid$ 9   
subp>agraph 7,b71 available 9 ! foll[+  
fiscal ye> to make grants to small      
bus9ess conc]ns describ$ 9 subp>agraphs 
7,a7 & 7,b7 9 p>agraph 7#a72 &  7,b7 on 
& aft] ,octob] #a1 #bjbd1 available to  
make grants to all small bus9ess conc]ns
 "u ! ,program4  7g7 ,f$]al %>e ,!      

,f$]al %>e ( ! co/ ( pur*as+ te*nical   
assi/ance & s]vices describ$ 9          
subsection 7a7 us+ funds aw>d$ "u a     
grant made "u ! ,program %all be-- 7#a7 
n m ?an #ge p]c5t1 if ! am\nt ( ! grant 
is less ?an #ej1jjj2 &  7#b7 n m ?an #ej
 p]c5t1 if ! am\nt ( ! grant is n less  
?an #ej1jjj4  7h7 ,reports  7#a7        
,reports f grant recipi5ts ,n lat] ?an  
#ahj days aft] ! date on :i* a project  
c>ri$ out "u a grant aw>d$ "u ! ,program
 is complet$1 ! recipi5t ( ! grant %all 
submit to ! ,adm9i/rator a report on !  
project1 includ+-- 7,a7 :e!r & h[ !     
project met ! orig9al expectations = !  
project2  7,b7 h[ ! results ( ! project 
7 incorporat$ 9 ! bus9ess ( ! grant     
recipi5t2 &  7,c7 :e!r & h[ ! project   
improv$ innovation practices ( ! grant  
recipi5t4  7#b7 ,report ( ! ,adm9i/rator
 ,n lat] ?an #b ye>s aft] ! date on :i* 
! ,adm9i/rator e/abli%es ! ,program1 & e
 #b ye>s !reaft] until ! date on :i* !  
am\nts appropriat$ = ! ,program are     
exp5d$1 ! ,adm9i/rator %all submit to ! 

,committee on ,small ,bus9ess &         
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives a report on grants    
aw>d$ "u ! ,program1 includ+-- 7,a7 a   
description ( ! grants aw>d$2  7,b7 !   
e/imat$ numb] ( products or s]vices     
creat$ or advanc$ "u grants aw>d$ "u !  
,program t c\ld h be5 creat$ or advanc$ 
)\t grants aw>d$ "u ! ,program2 &  7,c7 
a description ( ! impact ( ! ,program on
 k transf] & comm]cialization4  7#c7    
,f9al report ( ! ,adm9i/rator ,n lat]   
?an #ahj days aft] ! date on :i* am\nts 
appropriat$ = ! ,program are exp5d$1 !  
,adm9i/rator %all submit to ! committees
 describ$ 9 p>agraph 7#b7 a f9al report 
conta9+ ! in=mation describ$ 9          
subp>agraphs 7,a71 7,b71 & 7,c7 ( t     
p>agraph4  #d4 ,au?orization (          
appropriations ,!re is au?oriz$ to be   
appropriat$ to ! ,adm9i/rator to c>ry   
out ! ,program #aj1jjj1jjj = ea* (      
fiscal ye>s #bjba ?r\gh #bjbe1 to rema9 
available until exp5d$4