,,ii #aai? ,,congress #a/ ,session ,s4 #cdae ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,decemb] #aj1 #bjbe,ms4 ,cortez ,ma/o 7= h]self & ,mr4 ,"y7 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 ( #bjbe4 #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 ,program ,! t]m ,program means ! ,innovation ,v\*] ,grant ,program e/abli%$ "u section #c4 7#d7 ,small bus9ess conc]n ,! t]m small bus9ess conc]n has ! mean+ giv5 ! t]m 9 section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb74 #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 7f71 aw>d grants to small bus9ess conc]ns = ! ,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$4 7f7 ,f$]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 7g7 ,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 7a7 ,9 g5]al ,!re is au?oriz$ to be appropriat$ to ! ,adm9i/rator to c>ry out ! ,program #aj1jjj1jjj = ea* ( fiscal ye>s #bjbf ?r\gh #bjcj1 to rema9 available until exp5d$4 7b7 ,adm9i/rative co/s ,n m ?an #e p]c5t ( am\nts appropriat$ "u subsection 7a7 may be us$ = adm9i/rative co/s4