3.0.0 871 2023-01-11T13:47:37Z 2023-01-11T13:47:37Z Senate S 2021-03-18 117 ssfi00 Finance Committee Senate Standing Referred to 2021-03-18T19:50:10Z Innovation Centers Acceleration Act 117 476 HR 2021-02-04 Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management. Related bill CRS 2021-03-18 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-03-18 Introduced in Senate IntroReferral 10000 9 Library of Congress C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. N D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2021-03-18 True Commerce Advanced technology and technological innovations Agricultural practices and innovations Aviation and airports Business investment and capital Competitiveness, trade promotion, trade deficits Computers and information technology Education programs funding Employment and training programs Government lending and loan guarantees Health programs administration and funding Health technology, devices, supplies Higher education Housing and community development funding Income tax credits Infrastructure development Labor and Employment Manufacturing Medical research Minority and disadvantaged businesses Minority education Minority employment Public-private cooperation Research administration and funding Research and development Roads and highways Securities Small business Spacecraft and satellites Student aid and college costs Transportation programs funding Unemployment Wages and earnings Commerce 00 2021-03-18 Introduced in Senate 2021-10-14T14:11:19Z Innovation Centers Acceleration Act

This bill establishes a program to advance economic development by designating nine cities as innovation centers and providing and modifying certain related grants. It also establishes the Innovation Center Selection Committee to designate these cities.

The innovation center designation entitles selected cities—and the businesses, research institutions, and other organizations that operate within them—to various federal funds and benefits for research activities, business and workforce development, and transportation infrastructure projects.

These benefits include expanding various tax credits and incentives for businesses. The bill also makes it easier for those businesses to access loans and other financial instruments to raise capital.

In addition, the bill establishes a grant program for local and tribal governments that partner with innovation centers to develop and preserve affordable housing. It also modifies existing grants, loans, and other programs that support transportation infrastructure to specifically target initiatives in innovation centers.

]]> Innovation Centers Acceleration Act Display Title Innovation Centers Acceleration Act Official Title as Introduced A bill to strengthen American economic resiliency and equitably expand economic opportunity by launching a national competition, promoting State and local strategic planning, encouraging innovation by the public and private sectors, and by substantially investing Federal resources in research and development. Introduced in Senate IS Short Title(s) as Introduced Innovation Centers Acceleration Act Introduced in Senate IS Introduced in Senate 2021-03-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s871is/xml/BILLS-117s871is.xml 2021-03-18 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.