,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #dfbd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #ag1         
#bjbj,mr4 ,coons 7= himself & ,mr4      
,durb97 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to /r5g!n ,am]ican economic 
resili5cy & equitably exp& economic     
opportunity by laun*+ a national        
competition1 promot+ ,/ate & local      
/rategic plann+1 enc\rag+ innovation by 
! public & private sectors1 & by        
sub/antially inve/+ ,f$]al res\rces 9   
rese>* & developm5t4  #a4 ,%ort title   
,?is ,act may be cit$ z ! ,innovation   
,c5t]s ,accel]ation ,act4  #b4          
,def9itions ,9 ?is ,act3 7#a7 ,committee
 ,! t]m ,committee means ! ,innovation  
,c5t] ,selection ,committee e/abli%$ "u 
section #c4  7#b7 ,eligible area ,! t]m 
eligible area means a metropolitan      
/ati/ical area t-- 7,a7 has a population
 ( n less ?an #ejj1jjj2 &  7,b7 is n    
designat$ z an e/abli%$ te* hub4  7#c7  

,e/abli%$ te* hub ,! t]m e/abli%$ te*   
hub means ! #i metropolitan /ati/ical   
areas 9 ! ,unit$ ,/ates ) ! l>ge/ total 
numb] ( innovation sector jobs 9 #bjai4 
7#d7 ,hispanic-s]v+ in/itution ,! t]m   
,hispanic-s]v+ in/itution has ! mean+   
giv5 ! t]m 9 section #ejb ( ! ,high]    
,education ,act ( #aife 7#bj ,u4,s4,c4  
#aaja;a74  7#e7 ,hi/orically ,black     
college or univ]sity ,! t]m hi/orically 
,black college or univ]sity has ! mean+ 
giv5 ! t]m "p ,b in/itution 9 section   
#cbb ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajfa74  7#f7 ,innovation
 c5t] ,! t]m innovation c5t] means an   
eligible area designat$ by ! ,committee 
"u section #c7;e74  7#g7 ,innovation    
sector job ,! t]m innovation sector job 
means a job 9 ! foll[+ rese>* &         
developm5t sectors1 z categoriz$ "u !   
,nor? ,am]ican ,indu/ry ,classification 
,sy/em3 7,a7 ,basic *emical manufactur+ 
7#cbea74  7,b7 ,pe/icide1 f]tiliz]1 &   
o!r agricultural *emical manufactur+    
7#cbec74  7,c7 ,ph>maceutical & m$ic9e  

manufactur+ 7#cbed74  7,d7 ,comput] &   
p]iph]al equipm5t manufactur+ 7#ccda74  
7,e7 ,communications equipm5t           
manufactur+ 7#ccdb74  7,f7              
,semiconductor & o!r electronic         
compon5ts manufactur+ 7#ccdd74  7,g7    
,navigational1 measur+1 electrom$ical1 &
 control in/rum5ts manufactur+ 7#ccde74 
7,h7 ,a]ospace product & p>ts           
manufactur+ 7#ccfd74  7,i7 ,s(tw>e      
publi%]s 7#eaab74  7,j7 ,satellite      
telecommunications 7#eagd74  7,k7 ,data 
process+1 ho/+1 & relat$ s]vices        
7#eahb74  7,l7 ,o!r in=mation s]vices   
7#eaia74  7,m7 ,sci5tific rese>* &      
developm5t s]vices 7#edag74  7#h7 ,,/em 
,! t]m ,,/em means sci5ce1 te*nology1   
eng9e]+1 & ma!matics4  #c4 ,innovation  
,c5t] ,selection ,committee  7a7        
,e/abli%m5t ,!re is e/abli%$ !          
,innovation ,c5t] ,selection ,committee1
 :i* %all-- 7#a7 e/abli% ! global       
competitive edge ( ! ,unit$ ,/ates 9 !  
#ba/ c5tury across a range ( innovation 
sectors critical to national & economic 

security2  7#b7 enable #i metropolitan  
/ati/ical areas 9 ! ,unit$ ,/ates to    
become innovation c5t]s = global        
innovation lead]%ip & models = inclusive
 gr[?1 equal opportunity1 & ris+ liv+   
/&>ds = disadvantag$ populations2  7#c7 
inspire1 )9 metropolitan /ati/ical areas
 9 ! ,unit$ ,/ates across ! c\ntry1 new 
& con/ructive collaboration among local1
 ,/ate1 & ,f$]al gov]nm5t entities1     
academia1 & private indu/ry by issu+ a  
call = innovation c5t] proposals ) cle>1
 ambiti\s objectives2  7#d7 c>ry out a  
transp>5t1 competitive1 fair1 & rigor\s 
process = select+ innovation c5t]s2     
7#e7 ensure ! transp>5t1 effici5t &     
effective use ( taxpay] funds2 &  7#f7  
empirically evaluate ! effectiv5ess (   
innovation c5t]s ?r\gh release (        
publicly available reports & data4  7b7 
,memb]%ip  7#a7 ,composition  7,a7 ,vot+
 memb]s ,! ,committee %all be compos$ ( 
! foll[+ vot+ memb]s3 7i7 ,! ,secret>y (
 ,comm]ce1 :o %all s]ve z *airp]son ( ! 
,committee4  7ii7 ,! ,adm9i/rator ( !   

,small ,bus9ess ,adm9i/ration4  7iii7 ,!
 ,deputy ,secret>y = ,h\s+ & ,urban     
,developm5t4  7iv7 ,! ,director ( !     
,community ,developm5t ,f9ancial        
,in/itution ,fund4  7v7 ,! ,director ( !
 ,national ,sci5ce ,f\ndation4  7vi7 ,! 
,director ( ! ,national ,in/itute (     
,/&>ds & ,te*nology4  7vii7 ,! ,director
 ( ! ,national ,economic ,c\ncil4       
7viii7 ,! ,assi/ant ,secret>y ( ,comm]ce
 = ,economic ,developm5t4  7ix7 ,!      
,assi/ant ,secret>y = ,employm5t &      
,tra9+4  7x7 ,! ,director ( ! ,(fice (  
,sci5ce & ,te*nology ,policy4  7xi7 ,!  
,"u ,secret>y ( ,def5se = ,rese>* &     
,eng9e]+4  7xii7 ,! ,"u ,secret>y =     
,sci5ce ( ! ,dep>tm5t ( ,en]gy4  7xiii7 
,! ,director ( ! ,national ,in/itutes ( 
,heal?4  7xiv7 ,! ,"u ,secret>y =       
,sci5ce & ,te*nology ( ! ,dep>tm5t (    
,homel& ,security4  7xv7 ,! ,adm9i/rator
 ( ! ,national ,a]onautics & ,space     
,adm9i/ration4  7#b7 ,nonvot+ memb]s    
7,a7 ,9 g5]al ,! ,committee %all h #h   
nonvot+ memb]s1 ( :i*1 f among lead]s ( 

labor organizations or rese>*           
in/itutions1 or lead]s f private indu/ry
 or pr(essional societies-- 7i7 two %all
 be appo9t$ by ! majority lead] ( !     
,s5ate2  7ii7 two %all be appo9t$ by !  
m9ority lead] ( ! ,s5ate2  7iii7 two    
%all be appo9t$ by ! ,speak] ( ! ,h\se (
 ,repres5tatives2 &  7iv7 two %all be   
appo9t$ by ! m9ority lead] ( ! ,h\se (  
,repres5tatives4  7,b7 ,t]m ,! nonvot+  
memb]s appo9t$ "u subp>agraph 7,a7-- 7i7
 %all s]ve = a t]m ( #e ye>s2 &  7ii7   
may be reappo9t$ to subsequ5t t]ms4     
7,c7 ,vacancies ,a vacancy 9 ! nonvot+  
memb]%ip ( ! ,committee %all be fill$ 9 
! same mann] z ! orig9al appo9tm5t1 b ! 
individual appo9t$ to fill ! vacancy    
%all s]ve only = ! unexpir$ portion ( ! 
t]m = :i* ! individual's pr$ecessor 0   
appo9t$4  7,d7 ,deadl9e = appo9tm5ts ,! 
nonvot+ memb]s ( ! ,committee %all be   
appo9t$ "u ?is p>agraph n lat] ?an #cj  
days aft] ! date ( enactm5t ( ?is ,act4 
7#c7 ,initial meet+ ,n lat] ?an #cj days
 aft] ! date on :i* all memb]s ( !      

,committee are appo9t$1 ! ,committee    
%all hold its fir/ meet+4  7c7          
,comp5sation ,a nonvot+ memb] ( !       
,committee appo9t$ "u subsection 7b77#b7
 %all be all[$ travel exp5ses1 includ+  
p] diem 9 lieu ( subsi/5ce1 at rates    
au?oriz$ = employees ( ag5cies "u       
sub*apt] ,i ( *apt] #eg ( title #e1     
,unit$ ,/ates ,code1 :ile away f _!     
homes or regul> places ( bus9ess 9 !    
p]=mance ( s]vices = ! ,committee4  7d7 
,/aff  7#a7 ,9 g5]al ,! ,committee may  
appo9t a /aff director & o!r p]sonnel z 
necess>y to c>ry out ! duties ( !       
,committee4  7#b7 ,memb] ag5cies ,!     
,dep>tm5t ( ,comm]ce1 ! ,dep>tm5t (     
,labor1 ! ,dep>tm5t ( ! ,treasury1 !    
,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 
! ,dep>tm5t ( ,def5se1 ! ,dep>tm5t (    
,en]gy1 ! ,dep>tm5t ( ,heal? & ,human   
,s]vices1 ! ,small ,bus9ess             
,adm9i/ration1 & ! ,dep>tm5t (          
,transportation %all provide necess>y   
/aff+ support to ! ,committee1 z det]m9$
 by ! ,committee4  7e7 ,selection (     

innovation c5t]s  7#a7 ,9 g5]al ,!      
,committee %all select #i eligible areas
 to s]ve z innovation c5t]s & receive ! 
,f$]al innovation supports describ$ 9   
section #d4  7#b7 ,application  7,a7    
,reque/ = proposals ,n lat] ?an #c mon?s
 aft] ! date ( enactm5t ( ?is ,act1 !   
,committee %all issue a reque/ =        
applications f eligible entities4  7,b7 
,submission ,ea* eligible area desir+ to
 be select$ z an innovation c5t] %all   
submit to ! ,committee an application   
?r\gh a proposal committee creat$ by !  
eligible area1 :i* %all include         
repres5tation f ea* ,/ate locat$ 9 !    
eligible area & ea* municipal gov]nm5t  
repres5t+ n less ?an #bjj1jjj           
individuals locat$ 9 ! eligible area4   
7#c7 ,selection crit]ia ,9 select+      
innovation c5t]s "u ?is section1 !      
,committee %all evaluate ea* applicant  
bas$ on-- 7,a7 ! p]=mance ( ! applicant 
9-- 7i7 ,,/em sp5d+ p] capita2  7ii7 !  
numb] ( pat5ts p] #ajj1jjj resid5ts2    
7iii7 ! %>e ( ! population ) a ,ba*elor 

( ,arts degree or a high] degree2 &     
7iv7 ! numb] ( ,,/em univ]sity degrees  
p] capita2  7,b7 a plan to use          
data-driv5 /rategies to promote         
innovation-bas$1 advanc$ sector take(f1 
focus$ on local int]play ( univ]sity1   
,f$]al rese>* in/itution1 & indu/ry core
 compet5cies2  7,c7 a plan to increase  
innovation read9ess1 includ+ exp&+      
rese>* & te*nology developm5t facilities
 & develop+ ! local ,,/em work=ce1      
includ+ ?r\gh p>tn]%ips ) entities )    
demon/rat$ success ( adm9i/]+           
appr5tice%ip & o!r work=ce developm5t   
models2  7,d7 a plan to build or improve
 areas t attract & support work]s &     
firms2  7,e7 a plan to fo/] racial      
equity & inclusive gr[?1 includ+ by     
lev]ag+ m9ority s]v+ in/itutions1       
prev5t+ g5trification1 combatt+         
segregation1 promot+ ! inclusion (      
und]repres5t$ resid5ts1 & ensur+        
af=dable h\s+ options2  7,f7 a plan to  
inve/ ! f9ancial res\rces ( ! applicant2
  7,g7 a plan to p>tn] ) local work=ce  

developm5t bo>ds to scale up tra9+ to   
meet new work=ce dem&s2  7,h7 a plan to 
incorporate & br+ gr[? & opportunity to 
a broad geographic area beyond ! limits 
( ! metropolitan /ati/ical area1 includ+
 rural areas1 ?r\gh improv$             
transportation1 high spe$ int]net       
access1 o!r inve/m5ts1 & p>tn]%ips2 &   
7,i7 ! relative pot5tial = ! selection (
 ! innovation c5t] to rev]se a decl9e1  
or accel]ate gr[?19 innovation sector   
jobs4  7#d7 ,geographic div]sity ,9     
select+ innovation c5t]s "u ?is section1
 ! ,committee %all ensure a broad       
geographic repres5tation ( ! ,unit$     
,/ates4  7#e7 ,site visits ,! ,committee
 may conduct site visits to eligible    
areas t are f9ali/s = selection z an    
innovation c5t]4  7#f7 ,timel9e =       
selection ,! ,committee %all1 by secret 
ballot1 vote to select ! #i innovation  
c5t]s n lat] ?an #ab mon?s aft] ! date (
 enactm5t ( ?is ,act4  7#g7 ,evaluation 
& r5ewal  7,a7 ,9 g5]al ,n lat] ?an #a  
ye> aft] ! date ( enactm5t ( ?is ,act1 !

 ,committee %all e/abli% evaluation &   
r5ewal crit]ia to measure-- 7i7 !       
progress ( an innovation c5t] t[>d      
becom+ a c5t] = te*nology innovation2   
7ii7 ! effectiv5ess ( an innovation c5t]
 9 translat+ innovation sector gr[? into
 broadly %>$ economic opportunity )9 !  
innovation c5t]2 &  7iii7 ! e?ical &    
effici5t use ( ,f$]al funds4  7,b7      
,report to ,congress ,beg9n+ 9 ! ?ird   
full ye> foll[+ ! date ( enactm5t ( ?is 
,act1 & n less frequ5tly ?an once e #c  
ye>s !reaft]1 ! ,committee %all submit  
to ,congress & ea* ag5cy repres5t$ on ! 
,committee1 & make publicly available1 a
 report on ! progress ( ea* innovation  
c5t] 9 meet+ ! objectives describ$ 9    
p>agraph 7#c74  7,c7 ,evaluation  7i7 ,9
 g5]al ,dur+ ! ?ird ye> 9 :i* an        
innovation c5t] is 9 exi/5ce1 !         
,committee %all conduct an evaluation   
bas$ on e/abli%$ b5*m>ks = a*iev+ !     
objectives describ$ 9 p>agraph 7#c7 to  
det]m9e :e!r ! designation z an         
innovation c5t] %all be r5ew$ = #c      

additional ye>s4  7ii7 ,failure to meet 
b5*m>ks ,an innovation c5t] t fails to  
meet a majority ( ! b5*m>ks e/abli%$ "u 
clause 7i7 %all n be r5ew$ z an         
innovation c5t]4  7,d7 ,r5ewal limit ,an
 innovation c5t] %all be designat$ z su*
 = a p]iod ( #c ye>s1 & ! ,committee may
 r5ew ! designation = n m ?an #b        
additional #c-ye> t]ms4  7f7 ,f9al      
report ,n lat] ?an #a ye> aft] ! date on
 :i* all innovation c5t]s h exhau/$ _!  
designations & r5ewals z an innovation  
c5t]1 ! ,committee %all submit to       
,congress & ea* ag5cy repres5t$ on !    
,committee1 & make publicly available1 a
 f9al cumulative report on ! efficacy ( 
! program4  7g7 ,au?orization (         
appropriations ,!re is au?oriz$ to be   
appropriat$ to ! ,committee = travel &  
adm9i/rative exp5ses relat$ to c>ry+ out
 ! duties ( ! ,committee-- 7#a7         
#e1jjj1jjj = ea* ( ! fir/ #b fiscal ye>s
 beg9n+ aft] ! date ( enactm5t ( ?is    
,act2 &  7#b7 #a1jjj1jjj = ea* ( ! #h   
fiscal ye>s foll[+ ! #b fiscal ye>s     

describ$ 9 p>agraph 7#a74  #d4 ,f$]al   
innovation supports  7a7 ,9 g5]al ,an   
innovation c5t] %all be eligible = !    
,f$]al innovation supports describ$ 9   
?is section4  7b7 ,direct ,f$]al        
inve/m5t  7#a7 ,national ,sci5ce        
,f\ndation rese>* fund+  7,a7 ,fund+    
goal ,! ,director ( ! ,national ,sci5ce 
,f\ndation %all pursue a goal ( aw>d+   
?r\gh a rigor\s selection process1 = ea*
 innovation c5t] t gets its designation 
r5ew$ cont9ually = #c t]ms1 a total (   
#a1bej1jjj1jjj 9 grant funds to entities
 locat$ 9 t innovation c5t] by ! end ( !
 #i? ye> ( ! designation ( t innovation 
c5t]1 by proportionally increas+ ! total
 am\nt ( ! grants aw>d$ ov] ! #i-ye>    
p]iod4  7,b7 ,additional fund+ ,9       
addition to aw>d+ grants 9 pursuit ( !  
goal describ$ 9 subp>agraph 7,a71 !     
,director %all aw>d grants-- 7i7 ) a    
focus on univ]sities or o!r rese>*      
in/itutions t commit to exp&+ rese>* &  
work=ce capabilities align$ ) indu/ries 
& te*nologies & ) a pref]5ce =          

univ]sities or in/itutions t are-- 7,i7 
conc5trat$ 9 an innovation c5t]2 or     
7,,ii7 key to national *all5ges2 or     
7ii7 t include indu/ry-univ]sity rese>* 
p>tn]%ip programs4  7,c7 ,track+ ,9 ea* 
ye>1 ! ,director ( ! ,national ,sci5ce  
,f\ndation %all track ! aggregate am\nt 
( grants aw>d$ by ! ,director to        
entities 9 t ye>1 disaggregat$ by       
innovation c5t]4  7,d7 ,au?orization (  
additional appropriations ,!re are      
au?oriz$ to be appropriat$ to c>ry out  
?is p>agraph1 9 addition to am\nts t    
w\ld o!rwise be appropriat$ 9 a ye> = ! 
,national ,sci5ce ,f\ndation1 am\nts z  
foll[s3 7i7 ,= fiscal ye> #bjba1 #j4    
7ii7 ,= fiscal ye> #bjbb1               
#a1aaj1jjj1jjj4  7iii7 ,= fiscal ye>    
#bjbc1 #b1bbj1jjj1jjj4  7iv7 ,= fiscal  
ye> #bjbd1 #c1ccj1jjj1jjj4  7v7 ,=      
fiscal ye> #bjbe1 #d1ddj1jjj1jjj4  7vi7 
,= fiscal ye> #bjbf1 #e1eej1jjj1jjj4    
7vii7 ,= fiscal ye> #bjbg1              
#f1ffj1jjj1jjj4  7viii7 ,= fiscal ye>   
#bjbh1 #g1ggj1jjj1jjj4  7ix7 ,= fiscal  

ye> #bjbi1 #h1hhj1jjj1jjj4  7x7 ,=      
fiscal ye> #bjcj1 #i1iij1jjj1jjj4  7#b7 
,national ,sci5ce ,f\ndation graduate   
rese>* fell[%ips & und]graduate rese>*  
programs  7,a7 ,expansion ,! ,director (
 ! ,national ,sci5ce ,f\ndation %all    
exp& graduate rese>* fell[%ips &        
programs focus$ on und]graduate rese>*  
opportunities1 includ+-- 7i7 rese>*     
exp]i5ces = und]graduates2  7ii7 advanc$
 te*nological education programs2  7iii7
 hi/orically ,black colleges &          
univ]sities und]graduate programs2 &    
7iv7 ,hispanic-s]v+ in/itutions4  7,b7  
,allocation ,! am\nts exp5d$ by !       
,director to c>ry out subp>agraph 7,a71 
#ce p]c5t ( su* am\nts %all be exp5d$ = 
! expansion ( graduate rese>* fell[%ips 
& und]graduate rese>* opportunities 9   
innovation c5t]s4  7,c7 ,au?orization ( 
appropriations ,!re are au?oriz$ to be  
appropriat$ to c>ry out ?is p>agraph    
am\nts z foll[s3 7i7 ,9 fiscal ye>      
#bjbb1 #eg1jjj1jjj4  7ii7 ,9 fiscal ye> 
#bjbc1 #aad1jjj1jjj4  7iii7 ,9 fiscal   

ye> #bjbd1 #aga1jjj1jjj4  7iv7 ,9 fiscal
 ye> #bjbe1 #bbh1jjj1jjj4  7v7 ,9 fiscal
 ye> #bjbf1 #bhe1jjj1jjj4  7vi7 ,9      
fiscal ye> #bjbg1 #cdb1jjj1jjj4  7vii7  
,9 fiscal ye> #bjbh1 #cii1jjj1jjj4      
7viii7 ,9 fiscal ye> #bjbi1             
#def1jjj1jjj4  7ix7 ,9 fiscal ye> #bjcj1
 #eac1jjj1jjj4  7#c7 ,national ,sci5ce  
,f\ndation ,indu/ry-,univ]sity          
,coop]ative ,rese>* ,c5t]s program ,!   
,director ( ! ,national ,sci5ce         
,f\ndation %all consid] ! location ( a  
univ]sity )9 an innovation c5t] to be a 
/r5g? = purposes ( selection crit]ia "u 
! ,indu/ry-,univ]sity ,coop]ative       
,rese>* ,c5t]s program4  7#d7 ,small    
bus9ess innovation rese>* ,section      
#i7;j7 ( ! ,small ,bus9ess ,act 7#ae    
,u4,s4,c4 #fch7;j77 is am5d$ by add+ at 
! end ! foll[+3  7#e7 ,modifications    
relat+ to innovation c5t]s  7,a7        
,def9ition ,9 ?is p>agraph1 ! t]m       
innovation c5t] has ! mean+ giv5 ! t]m 9
 section #b ( ! ,innovation ,c5t]s      
,accel]ation ,act4  7,b7 ,requirem5t ,n 

lat] ?an #f mon?s aft] ! date ( enactm5t
 ( ! ,innovation ,c5t]s ,accel]ation    
,act1 ! ,adm9i/rator %all modify !      
policy directives issu$ pursuant to ?is 
subsection-- 7i7 to provide t1 dur+ !   
#aj-ye> p]iod beg9n+ on ! date (        
enactm5t ( ! ,innovation ,c5t]s         
,accel]ation ,act1 ! location ( a small 
bus9ess conc]n )9 an innovation c5t]    
%all be consid]$ a /r5g? "u ! selection 
crit]ia = ,phase ,i & ,phase ,,ii       
proposals "u ! ,,sbir program ( a ,f$]al
 ag5cy2 &  7ii7 to require !            
,adm9i/rator to track & publi% on an    
annual basis ! total value ( ,,sbir     
aw>ds made to small bus9ess conc]ns     
locat$ 9 innovation c5t]s4  4  7#e7     
,manufactur+ ,,usa program  7,a7        
,def9itions ,9 ?is p>agraph3 7i7        
,manufactur+ ,,usa ,program ,! t]m      
,manufactur+ ,,usa ,program means !     
program e/abli%$ "u section #cd7;b7 ( ! 
,national ,in/itute ( ,/&>ds &          
,te*nology ,act 7#ae ,u4,s4,c4          
#bghs7b774  7ii7 ,manufactur+ ,,usa     

in/itute ,! t]m ,manufactur+ ,,usa      
in/itute means an in/itute describ$ 9   
section #cd7;d7 ( ! ,national ,in/itute 
( ,/&>ds & ,te*nology ,act 7#ae         
,u4,s4,c4 #bghs7d774  7,b7 ,expansion   
,"u section #cd7;e7 ( ! ,national       
,in/itute ( ,/&>ds & ,te*nology ,act    
7#ae ,u4,s4,c4 #bghs7e771 ! ,secret>y   
%all aw>d f9ancial assi/ance to assi/ 9 
! e/abli%m5t & support (-- 7i7 #i new   
,manufactur+ ,,usa in/itutes2 or  7ii7 a
 comb9ation ( satellites to exi/+       
,manufactur+ ,,usa in/itutes or new     
,manufactur+ ,,usa in/itutes4  7,c7     
,selection  7i7 ,9 g5]al ,manufactur+   
,,usa in/itutes & satellites %all be    
id5tifi$ & fund$ "u subp>agraph 7,b7 f  
among proposals submitt$ to ! ,secret>y 
= purposes ( ?is p>agraph4  7ii7        
,proposal elem5ts ,any proposal submitt$
 to ! ,secret>y 9 accordance ) clause   
7i7 %all include-- 7,i7 a plan = !      
in/itute or satellite conc]n$ to support
 or o!rwise align ) exi/+ ,manufactur+  
,,usa in/itutes1 includ+ ?r\gh-- 7aa7   

memb]%ip 91 or p>tn]%ip or =mal         
affiliation )1 an exi/+ ,manufactur+    
,,usa in/itute2 or  7bb7 a plan to rea* 
a segm5t1 population1 or geographic area
 n already cov]$ by or engag$ ) exi/+   
,manufactur+ ,,usa in/itutes2 &  7,,ii7 
a plan = co/-%>+ = ! activities ( !     
in/itute or satellite conc]n$1 includ+ !
 s\rces ( funds & am\nts to be          
contribut$4  7iii7 ,selection (         
satellites ,any selection ( a satellite 
to an exi/+ ,manufactur+ ,,usa in/itute 
"u ?is subp>agraph %all be made by !    
,secret>y 9 consultation ) exit+        
,manufactur+ ,,usa in/itutes4  7iv7     
,priority relat+ to innovation c5t]s ,9 
id5tify+ & fund+ a new ,manufactur+     
,,usa in/itute or a comb9ation (        
satellites to exi/+ or new ,manufactur+ 
,,usa in/itutes "u subp>agraph 7,b71 !  
,secret>y %all give priority to         
proposals = id5tification & fund+ (     
,manufactur+ ,,usa in/itutes 9 an       
innovation c5t]1 9 :ole or 9 sub/antial 
"p4  7v7 ,prev5tion ( ov]lap & r$undancy

 ,9 id5tify+ & fund+ ,manufactur+ ,,usa 
in/itutes or satellites to ,manufactur+ 
,,usa in/itutes "u subp>agraph 7,b71 !  
,secret>y %all1 to ! ext5t practicable1 
avoid ov]lap or r$undancy 9 mission1    
te*nology focus1 or fund+ ) exi/+       
,manufactur+ ,,usa in/itutes4  7,d7     
,am\nt ( f9ancial assi/ance  7i7 ,new   
,manufactur+ ,,usa in/itutes ,= ea*     
,manufactur+ ,,usa in/itute id5tifi$ &  
fund$ "u subp>agraph 7,b71 ! ,secret>y  
may exp5d up to #gj1jjj1jjj dur+ ! p]iod
 ( fiscal ye>s #bjba ?r\gh #bjcb4  7ii7 
,manufactur+ ,,usa in/itute satellites  
,= ea* ,manufactur+ ,,usa in/itute      
satellite or expansion support$ "u      
subp>agraph 7,b71 ! ,secret>y may exp5d 
up to #be1jjj1jjj dur+ ! p]iod ( fiscal 
ye>s #bjba ?r\gh #bjcb4  7,e7           
,allocation ,n less ?an #cc p]c5t ( !   
f9ancial assi/ance provid$ "u           
subp>agraph 7,b7 %all be = id5tify+ &   
fund+ ,manufactur+ ,,usa in/itutes 9    
innovation c5t]s4  7#f7 ,manufactur+    
univ]sities ,! ,secret>y ( ,comm]ce & ! 

,secret>y ( ,def5se %all consid] !      
location ( a univ]sity )9 an innovation 
c5t] to be a /r5g? = purposes (         
selection crit]ia "u ! ,manufactur+     
,univ]sities ,program4  7#g7 ,m9ority   
,bus9ess ,developm5t ,ag5cy  7,a7 ,9    
g5]al ,! ,national ,director ( !        
,m9ority ,bus9ess ,developm5t ,ag5cy    
may1 act+ ?r\gh ! ,inn] ,city           
,innovation ,hub program1 aw>d n m ?an  
#b grants to eligible entities locat$ )9
 ea* innovation c5t]4  7,b7 ,am\nt (    
grant ,a grant aw>d$ "u subp>agraph 7,a7
 may n exce$ #a1ejj1jjj4  7,c7          
,au?orization ( appropriations ,!re are 
au?oriz$ to be appropriat$ to !         
,national ,director ( ! ,m9ority        
,bus9ess ,developm5t ,ag5cy #bg1jjj1jjj 
= ea* ( fiscal ye>s #bjbb ?r\gh #bjcj4  
7#h7 ,additional regional innovations   
/rategies grants  7,a7 ,def9ition (     
innovation c5t] ,section #d ( !         
,/ev5son-,wydl] ,te*nology ,innovation  
,act ( #aihj 7#ae ,u4,s4,c4 #cgjc7 is   
am5d$ by add+ at ! end ! foll[+3  7#ab7 

,innovation c5t] has ! mean+ giv5 ! t]m 
9 section #b ( ! ,innovation ,c5t]s     
,accel]ation ,act4  4  7,b7 ,grants     
,section #bg ( ! ,/ev5son-,wydl]        
,te*nology ,innovation ,act ( #aihj 7#ae
 ,u4,s4,c4 #cgbb7 is am5d$-- 7i7 9      
subsection 7c7-- 7,i7 9 p>agraph 7#a71  
by /rik+ ,z "p ( ! program & ins]t+ !   
foll[+3  7,a7 ,9 g5]al ,z "p ( ! program
  2 &  7,,ii7 by add+ at ! end ! foll[+3
  7,b7 ,innovation c5t] grants ,z a "p (
 ! program e/abli%$ pursuant to         
subsection 7b71 ! ,assi/ant ,secret>y ( 
,comm]ce = ,economic ,developm5t may    
aw>d grants1 on a competitive basis1 to 
eligible recipi5ts describ$ 9 subsection
 7a77#a77;,d7 locat$ )9 innovation      
c5t]s4  2 &  7ii7 9 subsection 7h7--    
7,i7 by /rik+ ,f am\nts appropriat$ &   
ins]t+ ! foll[+3  7#a7 ,9 g5]al ,f      
am\nts appropriat$  2 &  7,,ii7 by add+ 
at ! end ! foll[+3  7#b7 ,innovation    
c5t] grants ,!re are au?oriz$ to be     
appropriat$ to ! ,secret>y to aw>d      
grants "u subsection 7c77#a77;,b7       

#e1jjj1jjj = ea* ( fiscal ye>s #bjbb    
?r\gh #bjcj4  4  7#i7 ,work=ce inve/m5t 
activities 9 consultation ) innovation  
c5t]s  7,a7 ,y\? work=ce activities     
,section #abi ( ! ,work=ce ,innovation &
 ,opportunity ,act 7#bi ,u4,s4,c4 #cafd7
 is am5d$ by add+ at ! end ! foll[+3    
7d7 ,y\? work=ce activities 9           
consultation ) innovation c5t]s  7#a7   
,fund+  7,a7 ,9 g5]al ,us+ funds made   
available "u section #acf7;d71 !        
,secret>y %all provide a grant to ea*   
local area t-- 7i7 is )9 ! area cov]$ by
 an innovation c5t] select$ "u          
subsection 7e7 ( section #c ( !         
,innovation ,c5t]s ,accel]ation ,act2 & 
7ii7 ! ,innovation ,c5t] ,selection     
,committee e/abli%$ "u t section #c     
c]tifies is work+ 9 p>tn]%ip ) t        
innovation c5t]4  7,b7 ,am\nt ,! am\nt (
 ! grant = a fiscal ye> %all be equal to
 ! allocation t ! local area receives "u
 section #abh7;b7 = t fiscal ye>4  7,c7 
,prohibition ,! ,secret>y may n r$uce ! 
am\nt t any local area receives ?r\gh an

 allocation "u section #abh7;b7 because 
local areas describ$ 9 subp>agraph 7,a7 
receive grants "u ?is subsection4  7#b7 
,use ( funds ,! local area %all use !   
grant funds 9 accordance ) subsection   
7c71 aft] consultation ) ! innovation   
c5t]4  4  7,b7 ,adult & dislocat$ work] 
employm5t & tra9+ activities ,section   
#acd ( ! ,work=ce ,innovation &         
,opportunity ,act 7#bi ,u4,s4,c4 #cagd7 
is am5d$ by add+ at ! end ! foll[+3  7e7
 ,adult & dislocat$ work] employm5t &   
tra9+ activities 9 consultation )       
innovation c5t]s  7#a7 ,fund+  7,a7 ,9  
g5]al ,us+ funds made available "u      
section #acf7;d71 ! ,secret>y %all      
provide a grant to ea* local area t--   
7i7 is )9 ! area cov]$ by an innovation 
c5t] select$ "u subsection 7e7 ( section
 #c ( ! ,innovation ,c5t]s ,accel]ation 
,act2 &  7ii7 ! ,innovation ,c5t]       
,selection ,committee e/abli%$ "u t     
section #c c]tifies is work+ 9 p>tn]%ip 
) t innovation c5t]4  7,b7 ,am\nt ,!    
am\nt ( ! grant = a fiscal ye> %all be  

equal to ! sum ( ! allocations t ! local
 area receives "u p>agraphs 7#a7 & 7#b7 
( section #acc7;b7 = t fiscal ye>4  7,c7
 ,prohibition ,! ,secret>y may n r$uce !
 am\nt t any local area receives ?r\gh  
an allocation "u p>agraph 7#a7 or 7#b7 (
 section #acc7;b77#c7 because local     
areas describ$ 9 subp>agraph 7,a7       
receive grants "u ?is subsection4  7#b7 
,use ( funds ,! local area %all use !   
grant funds 9 accordance ) subsections  
7b71 7c71 & 7d71 aft] consultation ) !  
innovation c5t]4  4  7,c7 ,au?orization 
( appropriations ,section #acf ( !      
,work=ce ,innovation & ,opportunity ,act
 7#bi ,u4,s4,c4 #caha7 is am5d$-- 7i7 9 
subsections 7a71 7b71 & 7c71 by ins]t+  
be=e ! fir/ comma ! foll[+3 7except =   
activities fund$ f am\nts appropriat$ "u
 subsection 7d772 &  7ii7 by add+ at !  
end ! foll[+3  7d7 ,work=ce inve/m5t    
activities 9 consultation ) innovation  
c5t]s ,!re are au?oriz$ to be           
appropriat$ to c>ry out sections        
#abi7;d7 & #acd7;e7 su* sums z may be   

necess>y = ea* fiscal ye> t an          
innovation c5t] designation is 9 effect4
  4  7#aj7 ,additional ,,/em            
,appr5tice%ip grants ,section #bh ( !   
,/ev5son-,wydl] ,te*nology ,innovation  
,act ( #aihj 7#ae ,u4,s4,c4 #cgbc7 is   
am5d$ by add+ at ! end ! foll[+3  7e7   
,innovation c5t] grants  7#a7 ,def9ition
 ( eligible entity ,9 ?is subsection1 ! 
t]m eligible entity means an eligible   
recipi5t t is-- 7,a7 describ$ 9         
subsection 7b77#d72 &  7,b7 locat$ )9 an
 innovation c5t]4  7#b7 ,grants au?oriz$
 ,! ,assi/ant ,secret>y ( ,comm]ce =    
,economic ,developm5t %all provide to n 
less ?an #a eligible entity locat$ 9 ea*
 innovation c5t] a grant to develop     
infra/ructure to exp& ,,/em appr5tice%ip
 programs4  7#c7 ,am\nt2 r5ewal  7,a7   
,am\nt ,! am\nt ( a grant "u p>agraph   
7#b7 %all be n m ?an #e1jjj1jjj = ea*   
ye> ov] a #c-ye> p]iod4  7,b7 ,r5ewal ,!
 ,secret>y may provide an eligible      
entity t receives a grant "u p>agraph   
7#b7 n m ?an #b additional grants "u t  

p>agraph4  7#d7 ,pref]5ce ,! ,assi/ant  
,secret>y ( ,comm]ce = ,economic        
,developm5t %all give pref]5ce = a grant
 "u ?is subsection to an eligible entity
 ) demon/rat$ success ( adm9i/]+        
appr5tice%ip & o!r work=ce developm5t   
models & t demon/rates a commitm5t to   
s]v+ individuals-- 7,a7 f und]repres5t$ 
populations2 or  7,b7 :o face b>ri]s to 
employm5t1 includ+-- 7i7 long-t]m       
unemploym5t2  7ii7 pa/ inc>c]ation2 or  
7iii7 vet]an or disability /atus4  7f7  
,au?orization ( appropriations ,!re are 
au?oriz$ to be appropriat$ to c>ry out  
?is section #ej1jjj1jjj = ea* ( fiscal  
ye>s #bjbb ?r\gh #bjcj4  4  7#aa7       
,national ,in/itutes ( ,heal? rese>*    
fund+  7,a7 ,fund+ goal ,! ,director ( !
 ,national ,in/itutes ( ,heal? %all     
pursue a goal ( aw>d+ ?r\gh a rigor\s   
selection process & subject to pe]      
review1 = ea* innovation c5t] t gets its
 designation r5ew$ cont9ually = #c t]ms1
 a total ( #a1bej1jjj1jjj 9 m]itori\s   
rese>* aw>ds 9 priority areas (         

biom$ical sci5ce to entities locat$ 9 t 
innovation c5t] by ! end ( ! #i? ye> ( !
 designation ( t innovation c5t]1 by    
proportionally increas+ ! total am\nt ( 
! grants1 contracts1 or o!r transactions
 aw>d$ 9 ea* innovation c5t] ea* ye> ov]
 ! #i-ye> p]iod4  7,b7 ,additional fund+
 ,9 addition to aw>d+ grants1 contracts1
 or o!r transactions 9 pursuit ( ! goal 
describ$ 9 subp>agraph 7,a71 ! ,director
 ( ! ,national ,in/itutes ( ,heal? %all 
aw>d grants-- 7i7 ) a focus on          
univ]sities or o!r rese>* in/itutions t 
commit to exp&+ rese>* capabilities     
align$ ) indu/ries & te*nologies & ) a  
pref]5ce = univ]sities or in/itutions t 
are-- 7,i7 conc5trat$ 9 an innovation   
c5t]2 or  7,,ii7 key to national        
*all5ges2 or  7ii7 t include            
indu/ry-univ]sity rese>* p>tn]%ip       
programs4  7,c7 ,track+ ,9 ea* ye>1 !   
,director ( ! ,national ,in/itutes (    
,heal? %all track ! aggregate am\nt (   
grants1 contracts1 or o!r transactions  
aw>d$ by ! ,director to entities 9 t    

ye>1 disaggregat$ by innovation c5t]4   
7,d7 ,au?orization ( additional         
appropriations ,!re are au?oriz$ to be  
appropriat$ to c>ry out ?is p>agraph1 9 
addition to am\nts t w\ld o!rwise be    
appropriat$ 9 a ye> = ! ,national       
,in/itutes ( ,heal?1 am\nts z foll[s3   
7i7 ,= fiscal ye> #bjba1 #j4  7ii7 ,=   
fiscal ye> #bjbb1 #adj1jjj1jjj4  7iii7  
,= fiscal ye> #bjbc1 #bhj1jjj1jjj4  7iv7
 ,= fiscal ye> #bjbd1 #dbj1jjj1jjj4  7v7
 ,= fiscal ye> #bjbe1 #efj1jjj1jjj4     
7vi7 ,= fiscal ye> #bjbf1 #gjj1jjj1jjj4 
7vii7 ,= fiscal ye> #bjbg1 #hdj1jjj1jjj4
  7viii7 ,= fiscal ye> #bjbh1           
#ihj1jjj1jjj4  7ix7 ,= fiscal ye> #bjbi1
 #a1abj1jjj1jjj4  7x7 ,= fiscal ye>     
#bjcj1 #a1bfj1jjj1jjj4  7c7 ,tax        
inc5tives  7#a7 ,new m>kets tax cr$it   
allocations ,subsection 7f7 ( section   
#de;,d ( ! ,int]nal ,rev5ue ,code (     
#aihf is am5d$ by add+ at ! end ! foll[+
 new p>agraph3  7#d7 ,special allocation
 = innovation c5t]s ,9 ! case ( any     
cal5d> ye> beg9n+ aft] #bjba-- 7,a7 !   

limitation "u p>agraph 7#a7 7includ+ 9  
cal5d> ye>s = :i* ! limitation "u       
p>agraph 7#a7 is z]o7 %all be increas$  
by #ej1jjj1jjj = ea* metropolitan       
/ati/ical area :i* is designat$ z an    
innovation c5t] "u section #c7;e7 ( !   
,innovation ,c5t]s ,accel]ation ,act =  
su* cal5d> ye>1 &  7,b7 ! additional    
limitation "u subp>agraph 7,a7 %all be  
divid$ equally among su* innovation     
c5t]s & allocat$ 7z provid$ 9 p>agraph  
7#b77 among qualifi$ community          
developm5t entities 9 su* innovation    
c5t]s4  4  7#b7 ,rese>* cr$it  7,a7 ,9  
g5]al ,section #da ( su* ,code is am5d$ 
by add+ at ! end ! foll[+ new           
subsection3  7i7 ,special rules relat+  
to innovation c5t]s  7#a7 ,9 g5]al ,9 ! 
case (-- 7,a7 any qualifi$ rese>*       
exp5ses paid or incurr$ = qualifi$      
s]vices or qualifi$ rese>*1  7,b7 any   
basic rese>* paym5ts = basic rese>*1 &  
7,c7 am\nts paid or incurr$ by ! taxpay]
 9 c>ry+ on any trade or bus9ess ( !    
taxpay] 7includ+ z contributions7 to an 

en]gy rese>* consortium = en]gy rese>*1 
dur+ ! taxable ye> at a location 9 a    
metropolitan /ati/ical area :i* is an   
innovation c5t] = su* taxable ye>1 ?is  
section %all be appli$ z provid$ 9      
p>agraphs 7#b7 & 7#c74  7#b7 ,cr$it rate
 ,subsection 7a7 %all be appli$ by      
sub/itut+ #cj p]c5t = #bj p]c5t ea*     
place x appe>s4  7#c7 ,alt]native       
simplifi$ cr$it ,subsection 7c77#d7 %all
 be appli$-- 7,a7 by sub/itut+ #ba p]c5t
 = #ad p]c5t 9 subp>agraph 7,a71 &  7,b7
 by sub/itut+ #i p]c5t = #f p]c5t 9     
subp>agraph 7,b77ii74  7#d7 ,cr$it =    
qualifi$ small bus9esses ,9 ! case ( a  
trade or bus9ess locat$ prim>ily )9 a   
metropolitan /ati/ical area :i* is an   
innovation c5t] = ! taxable ye>1        
subsection 7h7 %all be appli$-- 7,a7 by 
sub/itut+ #ae1jjj1jjj = #e1jjj1jjj 9    
p>agraph 7#c77;,a77i77,i71  7,b7 by     
sub/itut+ #h-taxable-ye> =              
#e-taxable-ye> 9 p>agraph               
7#c77;,a77i77,,ii71 &  7,c7 by sub/itut+
 #ejj1jjj = #bej1jjj bo? places x appe>s

 9 p>agraphs 7#d77;,b77i7 &             
7#e77;,b77ii74  7#e7 ,innovation c5t] ,=
 purposes ( ?is subsection1 = any       
taxable ye>1 ! t]m innovation c5t] means
 a metropolitan /ati/ical area ) a      
designation z an innovation c5t] "u     
section #c7;e7 ( ! ,innovation ,c5t]s   
,accel]ation ,act 9 effect = cal5d> ye>s
 beg9n+ 9 su* ye>4  7#f7 ,t]m9ation ,?is
 subsection %all n apply to exp5ses paid
 or incurr$ aft] ,decemb] #ca1 #bjcj4  4
  7,b7 ,tra9+ includ$ z rese>* exp5ses  
7i7 ,9 g5]al ,p>agraph 7#a7 ( section   
#da7;b7 ( su* ,code is am5d$-- 7,i7 by  
/rik+ & at ! end ( subp>agraph 7,a72    
7,,ii7 by /rik+ ! p]iod at ! end (      
subp>agraph 7,b7 & ins]t+ 1 &2 &        
7,,iii7 by add+ at ! end ! foll[+ new   
subp>agraph3  7,c7 employee tra9+       
exp5ses4  4  7ii7 ,employee tra9+       
exp5ses ,subsection 7b7 ( section #da ( 
su* ,code is am5d$-- 7,i7 by r$esignat+ 
p>agraph 7#d7 z p>agraph 7#e72 &  7,,ii7
 by ins]t+ aft] p>agraph 7#c7 ! foll[+  
new p>agraph3  7#d7 ,employee tra9+     

exp5ses  7,a7 ,9 g5]al ,! t]m employee  
tra9+ exp5ses means any wages paid or   
incurr$ to an employee 9 connection )   
tra9+ = ! employee to p]=m qualifi$     
s]vices describ$ 9 clause 7i7 or 7ii7 ( 
p>agraph 7#b77;,b74 ,su* t]m does n     
include wages paid or incurr$ 9         
connection ) g5]al employ] tra9+ :i*    
does n specifically p]ta9 to su*        
qualifi$ s]vices4  7,b7 ,wages1 etc ,=  
purposes ( ?is p>agraph-- 7i7 ,9 g5]al  
,! t]m wages %all n include any am\nt   
tak5 into acc\nt "u p>agraph            
7#b77;,a77i74  7ii7 ,rules ,! rules (   
p>agraph 7#b77;,d7 %all apply4  7,c7    
,t]m9ation ,! t]m employee tra9+ exp5ses
 does n include any wages paid or       
incurr$ aft] ,decemb] #ca1 #bjcj4  4    
7,c7 ,effective date ,! am5dm5ts made by
 ?is p>agraph %all apply to taxable ye>s
 beg9n+ aft] ,decemb] #ca1 #bjba4  7d7  
,regulatory mod]nization  7#a7          
,def9ition ,9 ?is p>agraph1 ! t]m />tup 
means a small bus9ess conc]n 7z def9$ 9 
section #c7;a7 ( ! ,small ,bus9ess ,act 

7#ae ,u4,s4,c4 #fcb7;a777 t-- 7,a7 has  
be5 9 exi/5ce = less ?an #c ye>s2 &     
7,b7 has annual av]age gross receipts ( 
less ?an #c1jjj1jjj4  7#b7 ,requirem5t  
,not)/&+ any o!r provision ( law1 9 !   
case ( a />tup t is op]at+ )9 an        
innovation c5t]1 any requirem5t relat$  
to a ,f$]al grant t prohibits ! use (   
univ]sity laboratory or o!r rese>*      
assets pur*as$ or suppos$ by ! grant f  
be+ us$ = comm]cial purposes = an       
initial "t p]iod %all be waiv$4  7e7    
,bus9ess access to capital  7#a7        
,innovation c5t] deb5tures  7,a7 ,9     
g5]al ,section #cjc ( ! ,small ,bus9ess 
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fhc7 is am5d$ by add+ at ! end !       
foll[+3  7l7 ,innovation c5t] deb5tures 
,9 addition to any o!r au?ority "u ?is  
,act1 on & aft] ! fir/ day ( ! fir/     
fiscal ye> beg9n+ aft] ! date ( enactm5t
 ( ?is subsection1 a small bus9ess      
inve/m5t company may issue innovation   
c5t] deb5tures4  4  7,b7 ,def9itions    
,section #ajc ( ! ,small ,bus9ess       

,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#ffb7 is am5d$-- 7i7 9 p>agraph 7#ai71  
by /rik+ & at ! end2  7ii7 9 p>agraph   
7#bj71 by /rik+ ! p]iod at ! end &      
ins]t+ a semicolon2 &  7iii7 by add+ at 
! end ! foll[+3  7#ba7 ! t]m innovation 
c5t] deb5ture means a def]r$ int]e/     
deb5ture t-- 7,a7 is issu$ at a disc\nt2
  7,b7 has a #e-ye> maturity or a       
#aj-ye> maturity2  7,c7 requires no     
int]e/ paym5t or annual *>ge = ! fir/ #e
 ye>s2  7,d7 is re/rict$ to companies   
locat$ )9 an innovation c5t]1 z def9$ 9 
section #b ( ! ,innovation ,c5t]s       
,accel]ation ,act2 &  7,e7 is issu$ at  
no co/ 7z def9$ 9 section #ejb ( !      
,cr$it ,re=m ,act ( #aiij 7#b ,u4,s4,c4 
#ffa;a77 ) respect to pur*as+ &         
gu>antee+ ! deb5ture2 &  7#bb7 ! t]m    
innovation c5t] />tup means any company 
t-- 7,a7 is prim>ily locat$ )9 an       
innovation c5t] 7z def9$ 9 section #b ( 
! ,innovation ,c5t]s ,accel]ation ,act72
  7,b7 is innovation- or                
te*nology-ori5t$2 &  7,c7 has be5 9     

exi/5ce = less ?an #e ye>s4  4  7,c7    
,exemption f capital requirem5ts        
,section #cja7;c7 ( ! ,small ,bus9ess   
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fha7;c77 is am5d$ by add+ at ! end !   
foll[+3  7#e7 ,exception = applications 
locat$ 9 innovation c5t]s ,an applicant 
t is locat$ 9 an innovation c5t] 7z     
def9$ 9 section #b ( ! ,innovation      
,c5t]s ,accel]ation ,act7 & t does n    
satisfy ! requirem5ts ( section #cjb7;a7
 %all be limit$ to #a ti] ( lev]age     
available "u section #cjb7;b7 until !   
applicant meets ! requirem5ts ( section 
#cjb7;a74  4  7#b7 #g7;a7 loan f9anc+ = 
innovation c5t] />tups  7,a7 ,loan      
gu>antee p]c5tage ,section #g7;a77#b7 ( 
! ,small ,bus9ess ,act 7#ae ,u4,s4,c4   
#fcf7;a77#b77 is am5d$-- 7i7 9          
subp>agraph 7,a71 9 ! matt] prec$+      
clause 7i71 by /rik+ & 7,f7 & ins]t+    
7,f71 & 7,g72 &  7ii7 by add+ at ! end !
 foll[+3  7,g7 ,p>ticipation =          
innovation c5t] />tups  7i7 ,def9ition  
,9 ?is subp>agraph1 ! t]m innovation    

c5t] />tup means any small bus9ess      
conc]n t-- 7,i7 is prim>ily locat$ )9 an
 innovation c5t] 7z def9$ 9 section #b (
 ! ,innovation ,c5t]s ,accel]ation      
,act72  7,,ii7 is innovation- or        
te*nology-ori5t$2 &  7,,iii7 has be5 9  
exi/5ce = less ?an #e ye>s4  7ii7       
,p>ticipation ,9 an agreem5t to         
p>ticipate 9 a loan on a def]r$ basis "u
 ?is subsection = an innovation c5t]    
/>tup1 ! p>ticipation by ! ,adm9i/ration
 %all be #ij p]c5t4  4  7,b7 ,gu>antee  
fee r$uction ,section #g7;a77#ah7 ( !   
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fcf7;a77#ah77 is am5d$-- 7i7 9         
subp>agraph 7,a71 by /rik+ ,) respect & 
ins]t+ ,except z provid$ 9 subp>agraph  
7,c71 ) respect2 &  7ii7 by add+ at !   
end ! foll[+3  7,c7 ,innovation c5t]    
/>tups ,) respect to a loan gu>ante$ "u 
?is subsection = a small bus9ess conc]n 
describ$ 9 p>agraph 7#b77;,g77i7-- 7i7 !
 ,adm9i/ration may n collect a gu>antee 
fee "u ?is p>agraph = a loan ( n m ?an  
#cej1jjj2 &  7ii7 = a loan ( m ?an      

#cej1jjj1 ! ,adm9i/ration %all collect a
 gu>antee fee "u ?is p>agraph equal to  
#ej p]c5t ( ! gu>antee fee t !          
,adm9i/ration w\ld o!rwise collect = !  
loan4  4  7#c7 ,c]tifi$ developm5t      
company loans = innovation c5t] />tups  
7,a7 ,maximum loan am\nt ,section       
#ejb7b77;,a7 ( ! ,small ,bus9ess        
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fif7b77;,a77 is am5d$-- 7i7 9 clause   
7iv71 by /rik+ & at ! end2  7ii7 9      
clause 7v71 by /rik+ ! p]iod at ! end & 
ins]t+ 2 &2 &  7iii7 by add+ at ! end ! 
foll[+3  7vi7 #aj1jjj1jjj = ea* project 
( an innovation c5t] />tup4  4  7,b7    
,contribution requirem5t ,section       
#ejb7c77;,c7 ( ! ,small ,bus9ess        
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fif7c77;,c77 is am5d$-- 7i7 9 clause   
7iii71 by /rik+ or at ! end2  7ii7 by   
r$esignat+ clause 7iv7 z clause 7v72 &  
7iii7 by ins]t+ aft] clause 7iii7 !     
foll[+3  7iv7 = an innovation />tup--   
7,i7 at lea/ #e p]c5t ( ! total co/ ( ! 
project f9anc$1 if ! innovation />tup   

has be5 9 op]ation = a p]iod ( #b ye>s  
or less2 &  7,,ii7 at lea/ #e p]c5t ( ! 
total co/ ( ! project f9anc$ if !       
project involves ! con/ruction ( a      
limit$ or s+le purpose build+ or        
/ructure4  4  7#d7 ,,sba res\rces  7,a7 
,9 g5]al ,! ,small ,bus9ess             
,adm9i/ration %all provide innovation   
c5t] />tups 7z def9$ 9 section          
#g7;a77#b77;,g7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7;a77#b77;,g777     
access to f9anc+ res\rces ( !           
,adm9i/ration & assi/ ^? />tups 9       
navigat+ ! application process4  7,b7   
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ to ! ,small  
,bus9ess ,adm9i/ration #b1ejj1jjj =     
fiscal ye> #bjba & e fiscal ye> !reaft] 
to c>ry out subp>agraph 7,a74  7f7      
,neighborhood1 prop]ty1 & infra/ructure 
mod]nization  7#a7 ,community           
,developm5t ,block ,grant fund+  7,a7   
,def9itions ,9 ?is p>agraph-- 7i7 ! t]m 
eligible entity means a unit ( g5]al    
local gov]nm5t or ,indian tribe t       

receives assi/ance "u title ,i ( ! ,h\s+
 & ,community ,developm5t ,act ( #aigd  
7#db ,u4,s4,c4 #ecja et seq472  7ii7 !  
t]ms ,indian tribe & unit ( g5]al local 
gov]nm5t h ! mean+s giv5 ^? t]ms 9      
section #ajb ( ! ,h\s+ & ,community     
,developm5t ,act ( #aigd 7#db ,u4,s4,c4 
#ecjb72  7iii7 ! t]m qualifi$ af=dable  
h\s+ means a h\s+ developm5t t consi/s (
 #e or m dwell+ units ( :i* #bj p]c5t or
 m are made available-- 7,i7 = r5tal    
only by a l[-income family 7z def9$ 9   
section #c7;b7 ( ! ,unit$ ,/ates ,h\s+  
,act ( #aicg 7#db ,u4,s4,c4             
#adcg;a7b7772  7,,ii7 at a mon?ly r5t   
am\nt t does n exce$ #cj p]c5t ( !      
mon?ly adju/$ income 7z def9$ 9 su*     
section #c7;b77 ( ! t5ant l[-income     
family2 &  7,,iii7 ma9ta9s af=dability =
 resid5ts :o are l[-income families = a 
p]iod ( n less ?an #cj ye>s2 &  7iv7 !  
t]m ,secret>y means ! ,secret>y ( ,h\s+ 
& ,urban ,developm5t4  7,b7 ,fund+  7i7 
,9 g5]al ,! ,secret>y %all provide a    
grant to ea* eligible entity t-- 7,i7 is

 )9 ! area cov]$ by an innovation c5t]2 
&  7,,ii7 ! ,committee c]tifies is work+
 9 p>tn]%ip ) t innovation c5t]4  7ii7  
,am\nt ,! am\nt ( a grant provid$ to an 
eligible entity "u clause 7i7 = a fiscal
 ye> %all be equal to ! allocation t !  
eligible entity receives "u title ,i ( !
 ,h\s+ & ,community ,developm5t ,act (  
#aigd 7#db ,u4,s4,c4 #ecja et seq47 = t 
fiscal ye>4  7iii7 ,prohibition ,!      
,secret>y may n r$uce ! am\nt t any     
eligible entity receives "u title ,i ( !
 ,h\s+ & ,community ,developm5t ,act (  
#aigd 7#db ,u4,s4,c4 #ecja et seq47     
because eligible entities receive grants
 "u ?is subp>agraph4  7,c7 ,use ( funds 
,an eligible entity %all use grant funds
 provid$ "u subp>agraph 7,b7 = !        
developm5t & pres]vation ( qualifi$     
af=dable h\s+1 includ+ ! con/ruction (  
su* h\s+1 )9 ! area cov]$ by an         
innovation c5t]1 9 accordance ) title ,i
 ( ! ,h\s+ & ,community ,developm5t ,act
 ( #aigd 7#db ,u4,s4,c4 #ecja et seq47 &
 aft] consultation ) ! innovation c5t]4 

7,d7 ,au?orization ( appropriations ,!re
 are au?oriz$ to be appropriat$ su* sums
 z may be necess>y to c>ry out ?is      
p>agraph = ea* fiscal ye> 9 :i* an      
innovation c5t] designation is 9 effect4
  7#b7 ,infra/ructure f9anc+  7,a7      
,,build grants  7i7 ,def9ition ( ,,build
 program ,9 ?is subp>agraph1 ! t]m      
,,build program means ! program =       
national infra/ructure inve/m5ts        
7commonly kn[n z ! ,bett] ,utiliz+      
,inve/m5ts to ,lev]age ,developm5t      
7,,build7 discretion>y grant program7 ( 
! ,dep>tm5t ( ,transportation4  7ii7    
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ to !         
,secret>y ( ,transportation #cjj1jjj1jjj
 = ea* ( fiscal ye>s #bjbb ?r\gh #bjcb  
to c>ry out projects "u ! ,,build       
program 9 innovation c5t]s4  7iii7      
,supplem5t1 n supplant ,am\nts au?oriz$ 
to be appropriat$ "u clause 7ii7 %all   
supplem5t & n supplant any o!r am\nts   
au?oriz$ to be appropriat$ = ! ,,build  
program4  7,b7 ,,infra grants  7i7      

,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ to !         
,secret>y ( ,transportation #cjj1jjj1jjj
 = ea* ( fiscal ye>s #bjbb ?r\gh #bjcb  
to c>ry out projects "u ! nationally    
significant freight & highway projects  
program "u section #aag ( title #bc1    
,unit$ ,/ates ,code1 9 innovation c5t]s4
  7ii7 ,supplem5t1 n supplant ,am\nts   
au?oriz$ to be appropriat$ "u clause 7i7
 %all supplem5t & n supplant any o!r    
am\nts au?oriz$ to be appropriat$ = !   
nationally significant freight & highway
 projects program "u section #aag (     
title #bc1 ,unit$ ,/ates ,code4  7,c7   
,,tifia program  7i7 ,l9es ( cr$it      
,section #fjd7;b77#b7 ( title #bc1      
,unit$ ,/ates ,code1 is am5d$-- 7,i7 by 
/rik+ ,! total & ins]t+ ! foll[+3  7,a7 
,9 g5]al ,except z provid$ 9 subp>agraph
 7,b71 ! total  2 &  7,,ii7 by add+ at !
 end ! foll[+3  7,b7 ,projects 9        
innovation c5t]s ,9 ! case ( a project 9
 an innovation c5t] 7z def9$ 9 section  
#b ( ! ,innovation ,c5t]s ,accel]ation  

,act71 ! total am\nt ( a l9e ( cr$it "u 
?is section %all n exce$ #di p]c5t ( !  
reasonably anticipat$ eligible project  
co/s4  4  7ii7 ,fee waiv] ,section #fje 
( title #bc1 ,unit$ ,/ates ,code1 is    
am5d$ by add+ at ! end ! foll[+3  7g7   
,projects 9 innovation c5t]s ,not)/&+   
any o!r provision ( ?is *apt]1 9 ! case 
( a project 9 an innovation c5t] 7z     
def9$ 9 section #b ( ! ,innovation      
,c5t]s ,accel]ation ,act71 ! ,secret>y  
%all n require ! paym5t ( any fees "u   
section #fjc7;b77#g71 section           
#fjd7;b77#i71 or subsection 7b74  4