1.Short
title; table of contents
(a)This Act may be cited
as the Jobs Creation
Act
.
(b)The table of contents of this Act is as follows:
Sec. 1. Short title; table of
contents.
TITLE I—Tax incentives
Subtitle A—Payroll tax holiday
Sec. 101. Extension of payroll tax holiday.
Sec. 102. Temporary employer payroll tax cut.
Subtitle B—American Opportunity
Sec. 111. Short title.
Sec. 112. Angel investment tax credit.
Subtitle C—Extension of expiring provisions
Sec. 121. Extension of bonus depreciation.
Sec. 122. Deduction for qualified tuition and related
expenses.
Sec. 123. Research credit.
Sec. 124. 15-year straight-line cost recovery for qualified
leasehold improvements, qualified restaurant buildings and improvements, and
qualified retail improvements.
Sec. 125. Enhanced charitable deduction for contributions of
food inventory.
Sec. 126. Enhanced charitable deduction for contributions of
book inventories to public schools.
Sec. 127. Enhanced charitable deduction for corporate
contributions of computer inventory for educational purposes.
TITLE II—Infrastructure provisions
Sec. 201. Capitalization of State infrastructure
banks.
Sec. 202. Highway infrastructure investment.
Sec. 203. State revolving loan funds.
TITLE III—Regulatory Reform
Subtitle A—Clearing unnecessary regulatory burdens
Sec. 301. Short title.
Sec. 302. Regulatory reform.
Sec. 303. Reduction or waiver of civil penalties imposed on
small entities.
Subtitle B—EPA regulatory relief
Sec. 311. Short title.
Sec. 312. Legislative stay.
Sec. 313. Compliance dates.
Sec. 314. Energy recovery and conservation.
Sec. 315. Other provisions.
TITLE IV—Workforce development
Subtitle A—Job training program consolidation
Sec. 401. Short title.
Sec. 402. Definitions.
Sec. 403. Study and proposal on duplicative job training
programs.
Subtitle B—Innovation and Job Creation
Sec. 411. Short title.
Sec. 412. Definitions.
Sec. 413. National Innovation Council.
Sec. 414. National Innovation Council Board.
Sec. 415. Transfer of programs and functions.
Sec. 416. Cluster Information Center.
Sec. 417. Grant programs.
Sec. 418. Authorization of appropriations.
TITLE V—Offsets
Subtitle A—Surtax on high-income taxpayers
Sec. 501. Surtax on millionaires.
Subtitle B—Closing big oil tax loopholes
Sec. 511. Short title.
PART I—Close big oil tax loopholes
Sec. 521. Modifications of foreign tax credit rules applicable
to major integrated oil companies which are dual capacity
taxpayers.
Sec. 522. Limitation on section 199 deduction attributable to
oil, natural gas, or primary products thereof.
Sec. 523. Limitation on deduction for intangible drilling and
development costs.
Sec. 524. Limitation on percentage depletion allowance for oil
and gas wells.
Sec. 525. Limitation on deduction for tertiary
injectants.
PART II—Outer Continental Shelf oil and natural gas
Sec. 531. Repeal of outer Continental Shelf deep water and deep
gas royalty relief.
<enum>I</enum><header>Tax
incentives</header>
<subtitle id="id1D385B17E717488FA4BDDE43B62E4E19"><enum>A</enum><header>Payroll tax
holiday</header>
<section id="id9E25175D2D8840C4B650C0A03D094D47"><enum>101.</enum><header>Extension of
payroll tax holiday</header><text display-inline="no-display-inline">Section
601(c) of the Tax Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010 (26 U.S.C. 1401 note) is amended by striking <quote>year
2011</quote> and inserting <quote>years 2011 and 2012</quote>.</text>
</section><section id="id0AD9C4D218FE4AE3B0C3B29AE286642A"><enum>102.</enum><header>Temporary
employer payroll tax cut</header>
<subsection id="idC9F0D83D4D6A4C5BABAE28FF00BC82F5"><enum>(a)</enum><header>In
general</header>
<paragraph id="idC27F393D01EE42BA8421B4996C532D30"><enum>(1)</enum><header>Employers</header><text>Section
601(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010 (26 U.S.C. 1401 note) is amended by striking
<quote>and</quote> at the end of paragraph (1), by striking the period at the
end of paragraph (2), and by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id70E83249EC5F4D01ABF45D46ED352A9D" style="OLC">
<paragraph id="idA8FF1431BB4C4832BD87571AC457409C"><enum>(3)</enum><text>with respect to
remuneration paid during the payroll tax holiday period for qualified services,
the rate of tax under 3111(a) of such Code shall be 4.2 percent (including for
purposes of determining the applicable percentage under sections 3221(a) of
such
Code).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="idFC6B97A2F6594A3C9FA93964CC0C4381"><enum>(2)</enum><header>Self-employed
individuals</header><text>Section 601(a) of such Act is amended by striking
<quote>10.40 percent</quote> in paragraph (1) and inserting <quote>8.40
percent</quote>.</text>
</paragraph></subsection><subsection id="id858495B35D104E949C1D4A7B96752BE6"><enum>(b)</enum><header>Qualified
services</header><text>Section 601 of the Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010 (26 U.S.C. 1401 note) is amended
by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="id9C6079A8A5554CCFB9BF4304B473ADED" style="OLC">
<subsection id="HFA29432FBD904B399D91864C8C4C2C0E"><enum>(f)</enum><header>Qualified
services</header><text>For purposes of this section, the term <term>qualified
services</term> means services performed—</text>
<paragraph id="H97AD6F62AA0044A6844F4D9898EC4B36"><enum>(1)</enum><text>in a trade or
business of a qualified employer, or</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HE5B6DAAAA92C41B097AD62F5BCA9F5F3"><enum>(2)</enum><text>in the case of a
qualified employer exempt from tax under section 501(a) of the Internal Revenue
Code of 1986, in furtherance of the activities related to the purpose or
function constituting the basis of the employer’s exemption under section 501
of such
Code.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id2ACE852985AF4CEA967BB9D013507024"><enum>(c)</enum><header>Conforming
amendments</header>
<paragraph id="id80CE404528514E1890EC7BBA43DAB748"><enum>(1)</enum><text>Section 601 of
the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of
2010 is amended by striking subsection (b).</text>
</paragraph><paragraph id="id1D5B3D8314AB4F97A082DC392488055E"><enum>(2)</enum><text>Section 601(e)(2)
of such Act is amended by striking <quote>subsection (a)(2)</quote> and
inserting <quote>paragraphs (2) and (3) of subsection (a)</quote>.</text>
</paragraph><paragraph id="id95EEE086E8BF41F7A9EB72D45AF7DB51"><enum>(3)</enum><text>The headings for
title VI and section 601 of such Act are each amended by striking
<quote>employee</quote>.</text>
</paragraph></subsection><subsection id="idB28D23F3D00B470CA190331283139E5C"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to wages
paid and self-employment income earned after December 31, 2011.</text>
</subsection></section></subtitle><subtitle id="id4C5D15BBD6934B6E9DD8603F549B87DB"><enum>B</enum><header>American
Opportunity</header>
<section id="idE8191FB4A805461DB472541FACA37A71" section-type="subsequent-section"><enum>111.</enum><header>Short
title</header><text display-inline="no-display-inline">This subtitle may be
cited as the <quote><short-title>American Opportunity Act
of 2011</short-title></quote>.</text>
</section><section id="ID33162dc7df5f4f07a74d62d8f1ca1a51"><enum>112.</enum><header>Angel
investment tax credit</header>
<subsection id="ID9974c976b2dd414196a2abab38104f49"><enum>(a)</enum><header>In
general</header><text>Subpart B of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 is amended by adding at the end the following new
section:</text>
<quoted-block display-inline="no-display-inline" id="id8BC0801512C64F49A19FC4E43A9CD2A3" style="OLC">
<section id="IDe8e0194e95c248e4bd81d8d9774baeb6"><enum>30E.</enum><header>Angel
investment tax credit</header>
<subsection id="ID03151c4f18c34723b8ce32844673c0a2"><enum>(a)</enum><header>Allowance of
credit</header><text>There shall be allowed as a credit against the tax imposed
by this chapter for the taxable year an amount equal to 25 percent of the
qualified equity investments made by a qualified investor during the taxable
year.</text>
</subsection><subsection id="ID7543500e6d914a57b6a35753925aae92"><enum>(b)</enum><header>Qualified
equity investment</header><text>For purposes of this section—</text>
<paragraph id="ID4cbf174e952f42f29d3881cdec59300f"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified equity investment</term> means
any equity investment in a qualified small business entity if—</text>
<subparagraph id="ID37d9da9294d1433ab9e12ad062d076fc"><enum>(A)</enum><text>such investment
is acquired by the taxpayer at its original issue (directly or through an
underwriter) solely in exchange for cash, and</text>
</subparagraph><subparagraph id="ID309905a3b23d48ccac14ac2977291c6d"><enum>(B)</enum><text>such investment
is designated for purposes of this section by the qualified small business
entity.</text>
</subparagraph></paragraph><paragraph id="IDc57644ce936a474cb2791755e80c86bb"><enum>(2)</enum><header>Equity
investment</header><text>The term <term>equity investment</term> means—</text>
<subparagraph id="ID2e55ce942ec340bbba8c6fd830c650a0"><enum>(A)</enum><text>any form of
equity, including a general or limited partnership interest, common stock,
preferred stock (other than nonqualified preferred stock as defined in section
351(g)(2)), with or without voting rights, without regard to seniority position
and whether or not convertible into common stock or any form of subordinate or
convertible debt, or both, with warrants or other means of equity conversion,
and</text>
</subparagraph><subparagraph id="ID0c20ce0b9a7e49cfb7cecd96d790441e"><enum>(B)</enum><text>any capital
interest in an entity which is a partnership.</text>
</subparagraph></paragraph><paragraph id="ID7a308acb82b5423d8d22ec1fad5a69dc"><enum>(3)</enum><header>Redemptions</header><text>A
rule similar to the rule of section 1202(c)(3) shall apply for purposes of this
subsection.</text>
</paragraph></subsection><subsection id="IDd48adf73937849b3bce3720710d240e0"><enum>(c)</enum><header>Qualified small
business entity</header><text>For purposes of this section—</text>
<paragraph id="ID1c7cd88bf31940e586a70a38e3d0c0a3"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified small business entity</term>
means any domestic corporation or partnership if such corporation or
partnership—</text>
<subparagraph id="IDabee11dde4aa4d69956d6a9386ecd00c"><enum>(A)</enum><text>is a small
business (as defined in section 41(b)(3)(D)(iii)),</text>
</subparagraph><subparagraph id="IDd7e6f4bc5fa045f684f0f7b8d8531bd7"><enum>(B)</enum><text>has its
headquarters in the United States,</text>
</subparagraph><subparagraph id="IDf26360f3239647a0a603ffcc3b7c5faa"><enum>(C)</enum><text>is engaged in a
high technology trade or business related to—</text>
<clause id="IDa90fb3b0fd5b45c1bcafb7abbde5ad20"><enum>(i)</enum><text>advanced
materials, nanotechnology, or precision manufacturing,</text>
</clause><clause id="ID3c6d0db3ab1c42eabddc652e18dd3edf"><enum>(ii)</enum><text>aerospace,
aeronautics, or defense,</text>
</clause><clause id="ID6443362d9b9b401cb1fe61a7f41a579b"><enum>(iii)</enum><text>biotechnology
or pharmaceuticals,</text>
</clause><clause id="IDf45db6d634bc4780933a33572af3aafe"><enum>(iv)</enum><text>electronics,
semiconductors, software, or computer technology,</text>
</clause><clause id="ID0887aea9964d47c9bc7315918a2516cd"><enum>(v)</enum><text>energy,
environment, or clean technologies,</text>
</clause><clause id="ID4190caea98d1491fa6a34785aa5ad48a"><enum>(vi)</enum><text>forest products
or agriculture,</text>
</clause><clause id="IDec67996aca3b45ba8f9b12408b6e5e25"><enum>(vii)</enum><text>information
technology, communication technology, digital media, or photonics,</text>
</clause><clause id="IDae9e5a32c5824a13b838e4659d4edc07"><enum>(viii)</enum><text>life sciences
or medical sciences,</text>
</clause><clause id="ID439aa084b069481b96311972d6797359"><enum>(ix)</enum><text>marine
technology or aquaculture,</text>
</clause><clause id="IDce3e65092c7e4e47a86c456b241e63d1"><enum>(x)</enum><text>transportation,
or</text>
</clause><clause id="IDc268faf3dce245e190d2913548cf063d"><enum>(xi)</enum><text>any other high
technology trade or business as determined by the Secretary,</text>
</clause></subparagraph><subparagraph id="IDada2cc42c48648489bc87f9824b0ea38"><enum>(D)</enum><text>has been in
existence for less than 5 years as of the date of the qualified equity
investment,</text>
</subparagraph><subparagraph id="IDf347fe11aaf54e0eb3054c07d18f76c8"><enum>(E)</enum><text>employs less than
100 full-time equivalent employees as of the date of such investment,</text>
</subparagraph><subparagraph id="ID72547eaa93d54cad88188350cd549d00"><enum>(F)</enum><text>has more than 50
percent of the employees performing substantially all of their services in the
United States as of the date of such investment, and</text>
</subparagraph><subparagraph id="ID5b1ccb216d6c4d9290c56acf5d3d4f24"><enum>(G)</enum><text>has equity
investments designated for purposes of this paragraph.</text>
</subparagraph></paragraph><paragraph id="ID0c595fc45a914a528ce26337f808d818"><enum>(2)</enum><header>Designation of
equity investments</header><text>For purposes of paragraph (1)(G), an equity
investment shall not be treated as designated if such designation would result
in the aggregate amount which may be taken into account under this section with
respect to equity investments in such corporation or partnership
exceeds—</text>
<subparagraph id="idE3DCC5F50A4A4449AC9482A1493CFE9D"><enum>(A)</enum><text>$10,000,000,
taking into account the total amount of all qualified equity investments made
by all taxpayers for the taxable year and all preceding taxable years,</text>
</subparagraph><subparagraph id="idC802A3C7CD174A0088671854F250D1D5"><enum>(B)</enum><text>$2,000,000,
taking into account the total amount of all qualified equity investments made
by all taxpayers for such taxable year, and</text>
</subparagraph><subparagraph id="idE6BBC1AD267E4533B36C73E705E54BD6"><enum>(C)</enum><text>$1,000,000,
taking into account the total amount of all qualified equity investments made
by the taxpayer for such taxable year.</text>
</subparagraph></paragraph></subsection><subsection id="IDcab51413d4554e1d9274fd5eb2546531"><enum>(d)</enum><header>Qualified
investor</header><text>For purposes of this section—</text>
<paragraph id="IDe78ddf37099c4ed3adf51a8a65419d94"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified investor</term> means an
accredited investor, as defined by the Securities and Exchange Commission,
investor network, or investor fund who review new or proposed businesses for
potential investment.</text>
</paragraph><paragraph id="ID2aa8de274383439ab48ca1346024b7bb"><enum>(2)</enum><header>Investor
network</header><text>The term <term>investor network</term> means a group of
accredited investors organized for the sole purpose of making qualified equity
investments.</text>
</paragraph><paragraph id="ID48ba2ec550994e90b6e4bc1d4191fa56"><enum>(3)</enum><header>Investor
fund</header>
<subparagraph id="id178555ED6792436B8006386D1B419003"><enum>(A)</enum><header>In
general</header><text>The term <term>investor fund</term> means a corporation
that for the applicable taxable year is treated as an S corporation or a
general partnership, limited partnership, limited liability partnership, trust,
or limited liability company and which for the applicable taxable year is not
taxed as a corporation.</text>
</subparagraph><subparagraph id="idABEF8254A376417BB97EB459848D5FE6"><enum>(B)</enum><header>Allocation of
credit</header>
<clause id="IDe194d2d9ad354b7fbaef69c82ee9169e"><enum>(i)</enum><header>In
general</header><text>Except as provided in clause (ii), the credit allowed
under subsection (a) shall be allocated to the shareholders or partners of the
investor fund in proportion to their ownership interest or as specified in the
fund's organizational documents, except that tax-exempt investors shall be
allowed to transfer their interest to investors within the fund in exchange for
future financial consideration.</text>
</clause><clause id="ID3922b927713f4c019e05164840b22d72"><enum>(ii)</enum><header>Single member
limited liability company</header><text>If the investor fund is a single member
limited liability company that is disregarded as an entity separate from its
owner, the credit allowed under subsection (a) may be claimed by such limited
liability company's owner, if such owner is a person subject to the tax under
this title.</text>
</clause></subparagraph></paragraph><paragraph id="ID71e44189f003460690907818b6699a47"><enum>(4)</enum><header>Exclusion</header><text>The
term <term>qualified investor</term> does not include—</text>
<subparagraph id="IDc7a1a6ca72e1406fafe581092c3226cb"><enum>(A)</enum><text>a person
controlling at least 50 percent of the qualified small business entity,</text>
</subparagraph><subparagraph id="id4CD27CB675544FC6B404C99381BEB918"><enum>(B)</enum><text>an employee of
such entity, or</text>
</subparagraph><subparagraph id="ID754bb116981141ec8061df0cc0945790"><enum>(C)</enum><text>any bank, bank
and trust company, insurance company, trust company, national bank, savings
association or building and loan association for activities that are a part of
its normal course of business.</text>
</subparagraph></paragraph></subsection><subsection id="ID395434e55704439f94a95a2f6e79e5e1"><enum>(e)</enum><header>National
limitation on amount of investments designated</header>
<paragraph id="ID686418eb7e5c4c60a4a5391821852ee0"><enum>(1)</enum><header>In
general</header><text>There is an angel investment tax credit limitation of
$500,000,000 for each of calendar years 2011 through 2015.</text>
</paragraph><paragraph id="IDf78d197179724ffd9567a72a39030842"><enum>(2)</enum><header>Allocation of
limitation</header><text>The limitation under paragraph (1) shall be allocated
by the Secretary among qualified small business entities selected by the
Secretary.</text>
</paragraph><paragraph id="ID3bfb9f8c96d647d7aec210089878a371"><enum>(3)</enum><header>Carryover of
unused limitation</header><text>If the angel investment tax credit limitation
for any calendar year exceeds the aggregate amount allocated under paragraph
(2) for such year, such limitation for the succeeding calendar year shall be
increased by the amount of such excess. No amount may be carried under the
preceding sentence to any calendar year after 2020.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="HFB9708F2990C411A97DD629A209F737A"><enum>(f)</enum><header>Application with
other credits</header>
<paragraph id="H3ACECBB8430D488B9077F3585608A81A"><enum>(1)</enum><header>Business credit
treated as part of general business credit</header><text>Except as provided in
paragraph (2), the credit which would be allowed under subsection (a) for any
taxable year (determined without regard to this subsection) shall be treated as
a credit listed in section 38(b) for such taxable year (and not allowed under
subsection (a)).</text>
</paragraph><paragraph id="H3FB539E47F294F34ABF6A7F7B9DD2B74"><enum>(2)</enum><header>Personal
credit</header>
<subparagraph id="H8A312BA04F6D40DD9A98BE40BC802B81"><enum>(A)</enum><header>In
general</header><text>In the case of an individual who elects the application
of this paragraph, for purposes of this title, the credit allowed under
subsection (a) for any taxable year (determined after application of paragraph
(1)) shall be treated as a credit allowable under subpart A for such taxable
year.</text>
</subparagraph><subparagraph id="H2C12F28A6BCA4524A765ED156EEB7E2F"><enum>(B)</enum><header>Limitation based
on amount of tax</header><text>In the case of a taxable year to which section
26(a)(2) does not apply, the credit allowed under subpart A for any taxable
year (determined after application of paragraph (1)) by reason of subparagraph
(A) shall not exceed the excess of—</text>
<clause id="HA03D4C25381D47E1AB49EBB2BA1F84DA"><enum>(i)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</clause><clause id="HDE3AC8B7BC1A4E1BAA29D2C370418A8B"><enum>(ii)</enum><text>the sum of the
credits allowable under subpart A (other than this section) and section 27 for
the taxable year.</text>
</clause></subparagraph><subparagraph commented="no" id="HCC27FFE57463484A89AB8B573BA6FAE9"><enum>(C)</enum><header>Carryforward of
unused credit</header><text display-inline="yes-display-inline">If the credit
allowable under subsection (a) by reason of subparagraph (A) exceeds the
limitation imposed by section 26(a)(1) or subparagraph (B), whichever is
applicable, for such taxable year, reduced by the sum of the credits allowable
under subpart A (other than this section) for such taxable year, such excess
shall be carried to each of the succeeding 20 taxable years to the extent that
such unused credit may not be taken into account under subsection (a) by reason
of subparagraph (A) for a prior taxable year because of such limitation.</text>
</subparagraph></paragraph></subsection><subsection id="H44AC885756B542359D3F4B671B564B06"><enum>(g)</enum><header>Special
rules</header>
<paragraph id="H28053A8383D346C583FF394BE8E0D248"><enum>(1)</enum><header>Related
parties</header><text display-inline="yes-display-inline">For purposes of this
section—</text>
<subparagraph id="HD185025CDF7349B08A62137373D9194D"><enum>(A)</enum><header>In
general</header><text>All related persons shall be treated as 1 person.</text>
</subparagraph><subparagraph id="H0D93183D98704F99B75AD4D76C61571D"><enum>(B)</enum><header>Related
persons</header><text>A person shall be treated as related to another person if
the relationship between such persons would result in the disallowance of
losses under section 267 or 707(b).</text>
</subparagraph></paragraph><paragraph id="HC4648067248F486182238C5564DE5BD2"><enum>(2)</enum><header>Basis</header><text>For
purposes of this subtitle, the basis of any investment with respect to which a
credit is allowable under this section shall be reduced by the amount of such
credit so allowed. This subsection shall not apply for purposes of sections
1202, 1397B, and 1400B.</text>
</paragraph><paragraph id="HB132DDCE0C0243F28357DE93352E092C"><enum>(3)</enum><header>Recapture</header><text display-inline="yes-display-inline">The Secretary shall, by regulations,
provide for recapturing the benefit of any credit allowable under subsection
(a) with respect to any qualified equity investment which is held by the
taxpayer less than 3 years, except that no benefit shall be recaptured in the
case of—</text>
<subparagraph id="H607BE8959C8F4566974348286E5E15A8"><enum>(A)</enum><text>transfer of such
investment by reason of the death of the taxpayer,</text>
</subparagraph><subparagraph id="H84D13128BEA247F7A2DF208DA2F8906A"><enum>(B)</enum><text>transfer between
spouses,</text>
</subparagraph><subparagraph id="HECA8335D45664DC5A28CB7AB393E967F"><enum>(C)</enum><text>transfer incident
to the divorce (as defined in section 1041) of such taxpayer, or</text>
</subparagraph><subparagraph id="IDe3fb8d5598bd4e06a14bc769ef426fb0"><enum>(D)</enum><text>a transaction to
which section 381(a) applies (relating to certain acquisitions of the assets of
one corporation by another corporation).</text>
</subparagraph></paragraph></subsection><subsection id="ID665901a413f74c438ff0f8909167ecb7"><enum>(h)</enum><header>Regulations</header><text>The
Secretary shall prescribe such regulations as may be appropriate to carry out
this section, including regulations—</text>
<paragraph id="ID152562aea2324988895b27f191cae864"><enum>(1)</enum><text>which prevent the
abuse of the purposes of this section,</text>
</paragraph><paragraph id="ID121e5ebaf75447209503bfb2f8d6610b"><enum>(2)</enum><text>which impose
appropriate reporting requirements, and</text>
</paragraph><paragraph id="ID4f5b19e47d484f1d996e54fad425923e"><enum>(3)</enum><text>which apply the
provisions of this section to newly formed
entities.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDd402abe209534e89839b215ce2e87bdd"><enum>(b)</enum><header>Credit made
part of general business credit</header><text>Subsection (b) of section 38 of
the Internal Revenue Code of 1986 is amended—</text>
<paragraph id="idB02A9DB522624AD7830BAB03962AD637"><enum>(1)</enum><text>in paragraph
(35), by striking <quote>plus</quote>;</text>
</paragraph><paragraph id="id594F928629C245F48A6A7DE13364B2A5"><enum>(2)</enum><text>in paragraph
(36), by striking the period at the end and inserting <quote>, plus</quote>;
and</text>
</paragraph><paragraph id="id9655740A3E9F4B269F0F8A1115503FB0"><enum>(3)</enum><text>by adding at the
end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id41ACE5FB432944B0BF723E263A41BAED" style="OLC">
<paragraph id="ID0e7382e3196746199d5dde78ad28f544"><enum>(37)</enum><text>the portion of
the angel investment tax credit to which section 30E(f)(1)
applies.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection display-inline="no-display-inline" id="H51ADF897329A4ABCA4EEFC524FD98C14"><enum>(c)</enum><header>Conforming
amendments</header>
<paragraph commented="no" id="H11E5C8377C8645DF9D4EDB44EE028646"><enum>(1)</enum><text>Section 1016(a) of
the Internal Revenue Code of 1986 is amended by striking <quote>and</quote> at
the end of paragraph (36), by striking the period at the end of paragraph (37)
and inserting <quote>, and</quote>, and by inserting after paragraph (37) the
following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H98F59EA370FA465B9B47DA08ABDFB2C4" style="OLC">
<paragraph commented="no" id="H3454357C68C74F34A248475CA301E4F7"><enum>(38)</enum><text display-inline="yes-display-inline">to the extent provided in section
30E(g)(2).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HF98413F927284597980B6F0709AE1BEC"><enum>(2)</enum><text>Section
24(b)(3)(B) of such Code is amended by striking <quote>and 30D</quote> and
inserting <quote>30D, and 30E</quote>.</text>
</paragraph><paragraph id="H6BB269EB215F4F9BA87A02E18F8346EF"><enum>(3)</enum><text display-inline="yes-display-inline">Section 25(e)(1)(C)(ii) of such Code is
amended by inserting <quote>30E,</quote> after <quote>30D,</quote>.</text>
</paragraph><paragraph id="H28C04D2659554C778899239F9F7CF7C1"><enum>(4)</enum><text display-inline="yes-display-inline">Section 25A(i)(5)(B) of such Code is
amended by striking <quote>and 30D</quote> and inserting <quote>, 30D, and
30E</quote>.</text>
</paragraph><paragraph id="HEBACFD14CF474C1496809145497B8471"><enum>(5)</enum><text display-inline="yes-display-inline">Section 25A(i)(5) of such Code is amended
by inserting <quote>30E,</quote> after <quote>30D,</quote>.</text>
</paragraph><paragraph id="H3CDA559C6FF94D5EA83AE86B95D0FA82"><enum>(6)</enum><text display-inline="yes-display-inline">Section 25B(g)(2) of such Code is amended
by striking <quote>and 30D</quote> and inserting <quote>30D, and
30E</quote>.</text>
</paragraph><paragraph id="HF03332D955D24832AA96E31B93C6284C"><enum>(7)</enum><text display-inline="yes-display-inline">Section 26(a)(1) of such Code is amended by
striking <quote>and 30D</quote> and inserting <quote>30D, and
30E</quote>.</text>
</paragraph><paragraph id="H5F6443187EE04CC49C7A466C9E426CA1"><enum>(8)</enum><text display-inline="yes-display-inline">Section 30(c)(2)(B)(ii) of such Code is
amended by striking <quote>and 30D</quote> and inserting <quote>, 30D, and
30E</quote>.</text>
</paragraph><paragraph id="H7591B9983529414E907568FE5DD74374"><enum>(9)</enum><text display-inline="yes-display-inline">Section 30B(g)(2)(B)(ii) of such Code is
amended by striking <quote>and 30D</quote> and inserting <quote>30D, and
30E</quote>.</text>
</paragraph><paragraph id="H90554B699A2E468B99C04A0DBB260428"><enum>(10)</enum><text display-inline="yes-display-inline">Section 30D(d)(2)(B)(ii) of such Code is
amended by striking <quote>and 25D</quote> and inserting <quote>, 25D, and
30E</quote>.</text>
</paragraph><paragraph id="HAEF86924A8CC478B9D20028FE2F07E9C"><enum>(11)</enum><text display-inline="yes-display-inline">Section 904(i) of such Code is amended by
striking <quote>and 30D</quote> and inserting <quote>30D, and
30E</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HAA734D7E568E44F9BC58C818CAA99B65"><enum>(12)</enum><text display-inline="yes-display-inline">Section 1400C(d)(2) of such Code is amended
by striking <quote>and 30D</quote> and inserting <quote>30D, and
30E</quote>.</text>
</paragraph></subsection><subsection id="IDcc06eabbfc8844b4b299e4257ac40e26"><enum>(d)</enum><header>Clerical
amendment</header><text>The table of sections for subpart B of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by
adding at the end the following new item:</text>
<quoted-block id="id6183edb2-348a-4cd6-b426-0ae06a404c0f" style="OLC">
<toc>
<toc-entry idref="IDe8e0194e95c248e4bd81d8d9774baeb6" level="section">Sec. 30E. Angel investment tax
credit.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDb7c49f3365634033a64fe50d7ea40db4"><enum>(e)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
investments made after December 31, 2010, in taxable years ending after such
date.</text>
</subsection><subsection id="ID135eeadfe071451c86fe933483e66204"><enum>(f)</enum><header>Regulations on
allocation of national limitation</header><text>Not later than 120 days after
the date of the enactment of this Act, the Secretary of the Treasury or the
Secretary's delegate shall prescribe regulations which specify—</text>
<paragraph id="IDf0af8947d4d543258e45fddf13768d04"><enum>(1)</enum><text>how small
business entities shall apply for an allocation under section 30E(e)(2) of the
Internal Revenue Code of 1986, as added by this section,</text>
</paragraph><paragraph id="IDa753037a308742dd954dc07ca5f3bbab"><enum>(2)</enum><text>the competitive
procedure through which such allocations are made,</text>
</paragraph><paragraph id="idD779F71F0FD94C33B2F54AB980F618F6"><enum>(3)</enum><text>the criteria for
determining an allocation to a small business entity, including—</text>
<subparagraph id="id331F326006204CC5B69ADAADCCAC7995"><enum>(A)</enum><text>whether the small
business entity is located in a State that is historically underserved by angel
investors and venture capital investors,</text>
</subparagraph><subparagraph id="id310538E90F6644A3AEDA1EBB585947F4"><enum>(B)</enum><text>whether the small
business entity has received an angel investment tax credit, or its equivalent,
from the State in which the small business entity is located and
registered,</text>
</subparagraph><subparagraph id="id9D664B60F0B640C0B16725228AF7C643"><enum>(C)</enum><text>whether small
business entities in low-, medium-, and high-population density States are
receiving allocations, and</text>
</subparagraph><subparagraph id="id314FE9D7B16443438EF159510677537F"><enum>(D)</enum><text>whether the small
business entity has been awarded a Small Business Innovative Research or Small
Business Technology Transfer grant from a Federal agency,</text>
</subparagraph></paragraph><paragraph id="ID624789f1f0d84291b1aa0cd8d48d3183"><enum>(4)</enum><text>the actions that
such Secretary or delegate shall take to ensure that such allocations are
properly made to qualified small business entities, and</text>
</paragraph><paragraph id="IDa83f71167e9243bbb417767a9514a455"><enum>(5)</enum><text>the actions that
such Secretary or delegate shall take to ensure that angel investment tax
credits are allocated and issued to the taxpayer.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID76bf8ccf9e0646f2984f6e5f0d96d0fc"><enum>(g)</enum><header>Audit and
report</header><text>Not later than January 31, 2014, the Comptroller General
of the United States, pursuant to an audit of the angel investment tax credit
program established under section 30E of the Internal Revenue Code of 1986 (as
added by subsection (a)), shall report to Congress on such program, including
all qualified small business entities that receive an allocation of an angel
investment credit under such section.</text>
</subsection></section></subtitle><subtitle id="id2F1BE847D4574DB295A72F4641BAF1A6"><enum>C</enum><header>Extension of
expiring provisions</header>
<section id="idE376F2AD6A7E421CA93729AE1E9E5914"><enum>121.</enum><header>Extension of
bonus depreciation</header>
<subsection commented="no" id="IDdb4cef95acde487893f6b4cdf741c1c3"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 168(k) is amended—</text>
<paragraph commented="no" id="ID8d35b8d57e1c4a2eb90c75037be37cc0"><enum>(1)</enum><text>by striking
<quote>January 1, 2014</quote> in subparagraph (A)(iv) and inserting
<quote>January 1, 2015</quote>, and</text>
</paragraph><paragraph commented="no" id="ID4bf2681ec5bd46279fe3dc0d961cd8b3"><enum>(2)</enum><text>by striking
<quote>January 1, 2013</quote> each place it appears and inserting
<quote>January 1, 2014</quote>.</text>
</paragraph></subsection><subsection id="id5C3B9E0CE8374BD0B4EE0AD19F2AFDF8"><enum>(b)</enum><header>100 percent
expensing</header><text>Paragraph (5) of section 168(k) is amended—</text>
<paragraph id="idE65308A88E044CFA8FC2066537273AE7"><enum>(1)</enum><text>by striking
<quote>January 1, 2013</quote> and inserting <quote>January 1, 2014</quote>,
and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id2C5F1DF8688040C0BEB97D20ED56B270"><enum>(2)</enum><text>by striking
<quote>January 1, 2012</quote> each place it appears and inserting
<quote>January 1, 2013</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id3CBCC9B44C584E318C07198537EB185D"><enum>(c)</enum><header>Extension of
election to accelerate the AMT credit in lieu of bonus depreciation</header>
<paragraph commented="no" display-inline="no-display-inline" id="id5423C04377EB4EAC90FBFCB1B2F66EEF"><enum>(1)</enum><header>In
general</header><text>Subclause (II) of section 168(k)(4)(D)(iii) is amended by
striking <quote>2013</quote> and inserting <quote>2014</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idEB9CEFB7C781421E8FD878DE93462478"><enum>(2)</enum><header>Round 3
extension property</header><text>Paragraph (4) of section 168(k) is amended by
adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="idACA78C7F7B2B424D823F6F5E196AECAB" style="OLC">
<subparagraph commented="no" id="IDf5ee84d00911421daadfa5b699b1739d"><enum>(J)</enum><header>Special rules
for round 3 extension property</header>
<clause commented="no" id="id91B0BAEA2C834570A41D24CC43A875C9"><enum>(i)</enum><header>In
general</header><text>In the case of round 3 extension property, this paragraph
shall be applied without regard to—</text>
<subclause commented="no" id="id977170C9914046BABB26F8F0490820DF"><enum>(I)</enum><text>the limitation
described in subparagraph (B)(i) thereof, and</text>
</subclause><subclause commented="no" id="idBEA5E77536344E6C8B03EC43783817D0"><enum>(II)</enum><text>the business
credit increase amount under subparagraph (E)(iii) thereof.</text>
</subclause></clause><clause commented="no" id="IDd0a6c434381a463fb780c42495da4ddf"><enum>(ii)</enum><header>Taxpayers
previously electing acceleration</header><text>In the case of a taxpayer who
made the election under subparagraph (A) for its first taxable year ending
after March 31, 2008, a taxpayer who made the election under subparagraph
(H)(ii) for its first taxable year ending after December 31, 2008, or a
taxpayer who made the election under subparagraph (I)(iii) for its first
taxable year ending after December 31, 2010—</text>
<subclause commented="no" id="IDee751ae340944bed9a610eb258263331"><enum>(I)</enum><text>the taxpayer may
elect not to have this paragraph apply to round 3 extension property,
but</text>
</subclause><subclause commented="no" id="ID4e6a528e48ba4f509673c4ea4c7ff605"><enum>(II)</enum><text>if the taxpayer
does not make the election under subclause (I), in applying this paragraph to
the taxpayer the bonus depreciation amount, maximum amount, and maximum
increase amount shall be computed and applied to eligible qualified property
which is round 3 extension property.</text>
</subclause><continuation-text commented="no" continuation-text-level="clause">The amounts described in subclause (II)
shall be computed separately from any amounts computed with respect to eligible
qualified property which is not round 2 extension property.</continuation-text></clause><clause commented="no" id="ID650385ea59214d458c3ba2755a4929f9"><enum>(iii)</enum><header>Taxpayers not
previously electing acceleration</header><text>In the case of a taxpayer who
neither made the election under subparagraph (A) for its first taxable year
ending after March 31, 2008, nor made the election under subparagraph (H)(ii)
for its first taxable year ending after December 31, 2008, nor made the
election under subparagraph (I)(iii) for its first taxable year ending after
December 31, 2010—</text>
<subclause commented="no" id="IDda2cdfe8c5d0459ba736b2db382fa159"><enum>(I)</enum><text>the taxpayer may
elect to have this paragraph apply to its first taxable year ending after
December 31, 2011, and each subsequent taxable year, and</text>
</subclause><subclause commented="no" id="ID04fedbdcdb094fb0bd0217a6b8966265"><enum>(II)</enum><text>if the taxpayer
makes the election under subclause (I), this paragraph shall only apply to
eligible qualified property which is round 3 extension property.</text>
</subclause></clause><clause commented="no" id="ID9a8286c81b1245e5adacf39e363c52b2"><enum>(iv)</enum><header>Round 3
extension property</header><text>For purposes of this subparagraph, the term
<term>round 3 extension property</term> means property which is eligible
qualified property solely by reason of the extension of the application of the
special allowance under paragraph (1) pursuant to the amendments made by
section 7(a) of the <short-title>Small Business Jobs Tax
Extenders Act of 2011</short-title> (and the application of such extension to
this paragraph pursuant to the amendment made by section 7(c)(1) of such
Act).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" id="ID61ac8a11b82b418ba9e09e5ac34f8e76"><enum>(d)</enum><header>Conforming
amendments</header>
<paragraph commented="no" id="ID81131a19f61a4c088066696aaecb840a"><enum>(1)</enum><text>The heading for
subsection (k) of section 168 is amended by striking <quote><header-in-text level="subsection" style="OLC">January 1, 2013</header-in-text></quote> and
inserting <quote><header-in-text level="subsection" style="OLC">January 1,
2014</header-in-text></quote>.</text>
</paragraph><paragraph commented="no" id="IDcef7a073787e4edfa1dde1549030a307"><enum>(2)</enum><text>The heading for
clause (ii) of section 168(k)(2)(B) is amended by striking
<quote><header-in-text level="clause" style="OLC">pre-January 1,
2013</header-in-text></quote> and inserting <quote><header-in-text level="clause" style="OLC">pre-January 1, 2014</header-in-text></quote>.</text>
</paragraph><paragraph commented="no" id="ID45758bc8c570427dbc7a0f0b36142a1f"><enum>(3)</enum><text>Paragraph (5) of
section 168(l) is amended—</text>
<subparagraph commented="no" id="ID801cafc11dc24ed5ad692fad2d3ad6f8"><enum>(A)</enum><text>by striking
<quote>and</quote> at the end of subparagraph (A),</text>
</subparagraph><subparagraph commented="no" id="ID6e4feb8bef17444590133d4f3e46170d"><enum>(B)</enum><text>by redesignating
subparagraph (C) as subparagraph (B), and</text>
</subparagraph><subparagraph commented="no" id="idC833A0C5E76F4E5C85A11E0B78076F1C"><enum>(C)</enum><text>by inserting
after subparagraph (A) the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="idDF19CBDCA2FA47BC9BC869A5CC7AF3CF" style="OLC">
<subparagraph commented="no" id="id0DD781B98C674DF19B026BEC7589CF2F"><enum>(B)</enum><text>by substituting
<quote>January 1, 2013</quote> for <quote>January 1, 2014</quote> in clause (i)
thereof,
and</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" id="ID6951c62508b544f18807749b4c57ede6"><enum>(4)</enum><text>Subparagraph (C)
of section 168(n)(2) is amended by striking <quote>January 1, 2013</quote> and
inserting <quote>January 1, 2014</quote>.</text>
</paragraph><paragraph commented="no" id="ID28cafbe882954df5b56e5e46c34852f5"><enum>(5)</enum><text>Subparagraph (D)
of section 1400L(b)(2) is amended by striking <quote>January 1, 2013</quote>
and inserting <quote>January 1, 2014</quote>.</text>
</paragraph><paragraph commented="no" id="ID71275f25922a4878aaf4fa49de8c46fb"><enum>(6)</enum><text>Subparagraph (B)
of section 1400N(d)(3) is amended by striking <quote>January 1, 2013</quote>
and inserting <quote>January 1, 2014</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID8a4597b12c904ccc87b965b30dd322e3"><enum>(e)</enum><header>Effective
dates</header><text>The amendments made by this section shall apply to property
placed in service after December 31, 2011, in taxable years ending after such
date.</text>
</subsection></section><section id="idFFE133F10EB44476925634E071E17B9A"><enum>122.</enum><header>Deduction for
qualified tuition and related expenses</header>
<subsection id="id69E8C6B22CEE41D6956E486274958697"><enum>(a)</enum><header>In
general</header><text>Subsection (e) of section 222 of the Internal Revenue
Code of 1986 is amended by striking <quote>December 31, 2011</quote> and
inserting <quote>December 31, 2012</quote>.</text>
</subsection><subsection id="idD0B14EEC7D014FB69E51DB091E52ED62"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section id="idB309AFD4F6A343819C73239AA9385CB1"><enum>123.</enum><header>Research
credit</header>
<subsection id="idBE77D01F6E174CA984B916B139A2CF90"><enum>(a)</enum><header>In
general</header><text>Subparagraph (B) of section 41(h)(1) of the Internal
Revenue Code of 1986 is amended by striking <quote>December 31, 2011</quote>
and inserting <quote>December 31, 2012</quote>.</text>
</subsection><subsection id="idCB3F3830CE17428CBA99F15E75DBC47C"><enum>(b)</enum><header>Conforming
amendment</header><text>Subparagraph (D) of section 45C(b)(1) of such Code is
amended by striking <quote>December 31, 2011</quote> and inserting
<quote>December 31, 2012</quote>.</text>
</subsection><subsection id="id26ACB97E0393434A9A736F2F196564C4"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to amounts
paid or incurred after December 31, 2011.</text>
</subsection></section><section id="ID4c18aba8892548f1863bf887252edea8"><enum>124.</enum><header>15-year
straight-line cost recovery for qualified leasehold improvements, qualified
restaurant buildings and improvements, and qualified retail
improvements</header>
<subsection id="ID252df003ef6d44cebb4c2f500081cfb0"><enum>(a)</enum><header>In
general</header><text>Clauses (iv), (v), and (ix) of section 168(e)(3)(E) of
the Internal Revenue Code of 1986 are each amended by striking <quote>January
1, 2012</quote> and inserting <quote>January 1, 2013</quote>.</text>
</subsection><subsection id="ID098f6ee79fda427ca10be6d9c7c288c0"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section id="ID3c7d2ac5ed7f4abb9a1ce44621ad529c"><enum>125.</enum><header>Enhanced
charitable deduction for contributions of food inventory</header>
<subsection id="IDa25148837e1845faa10df474e4923566"><enum>(a)</enum><header>In
general</header><text>Clause (iv) of section 170(e)(3)(C) of the Internal
Revenue Code of 1986 is amended by striking <quote>December 31, 2011</quote>
and inserting <quote>December 31, 2012</quote>.</text>
</subsection><subsection id="IDbe8f16944c184d099e9db3d66165bd46"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
contributions made after December 31, 2011.</text>
</subsection></section><section id="ID6076e0edcb9046d7a36345201d04c776"><enum>126.</enum><header>Enhanced
charitable deduction for contributions of book inventories to public
schools</header>
<subsection id="IDea9a553247bc47aca920ee94b3e5d11f"><enum>(a)</enum><header>In
general</header><text>Clause (iv) of section 170(e)(3)(D) of the Internal
Revenue Code of 1986 is amended by striking <quote>December 31, 2011</quote>
and inserting <quote>December 31, 2012</quote>.</text>
</subsection><subsection id="ID0cb14fa054a0437da2cf4597cfc8ef65"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
contributions made after December 31, 2011.</text>
</subsection></section><section id="ID1c17df2e0c3249a4ba45d025315b9c09"><enum>127.</enum><header>Enhanced
charitable deduction for corporate contributions of computer inventory for
educational purposes</header>
<subsection id="IDf8fd3ba0cff148aeb32ab2d4f4ec2c8d"><enum>(a)</enum><header>In
general</header><text>Subparagraph (G) of section 170(e)(6) of the Internal
Revenue Code of 1986 is amended by striking <quote>December 31, 2011</quote>
and inserting <quote>December 31, 2012</quote>.</text>
</subsection><subsection id="IDccf7a43ab5224dee9db3ee2cc2b4ebcd"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
contributions made in taxable years beginning after December 31, 2011.</text>
</subsection></section></subtitle><enum>II</enum><header>Infrastructure
provisions</header>
<section id="id7425B4D04911432BBF2F9C2F404A87EF"><enum>201.</enum><header>Capitalization
of State infrastructure banks</header><text display-inline="no-display-inline">Section 610 of title 23, United States Code,
is amended—</text>
<paragraph id="idF8F4C68526C94FEA9113F92A36622E4F"><enum>(1)</enum><text display-inline="yes-display-inline">in subsection (d)—</text>
<subparagraph id="idF78FF68B2BE8454DA9B381EAC7565522"><enum>(A)</enum><text display-inline="yes-display-inline">by redesignating paragraphs (5) and (6) as
paragraphs (6) and (7), respectively; and</text>
</subparagraph><subparagraph id="id35A8BB34400A41D192198971B7C4C1BC"><enum>(B)</enum><text>by inserting
after paragraph (4) the following:</text>
<quoted-block display-inline="no-display-inline" id="id1DAC785F49F743178C9A635EC50098E8" style="OLC">
<paragraph id="id1A8F4612E2384178AEB56D94D9F61B0E"><enum>(5)</enum><header>Special single
allocation</header>
<subparagraph id="id0DE6528B255842F0853A490BD78A40A5"><enum>(A)</enum><header>In
general</header><text>Subject to subparagraph (C), of the funds made available
under subparagraph (D), the Secretary shall allocate to each State a
proportional amount in the manner required under this section for a 1-time
deposit into the State infrastructure bank, for use in accordance with this
section.</text>
</subparagraph><subparagraph id="IDba99420bf110410bab67ceb30d0e3bfa"><enum>(B)</enum><header>Certain uses of
funds</header><text>A State may use an amount equal to 20 percent of the funds
allocated under subparagraph (A) for—</text>
<clause id="id480AAD963C6341A281ACC5A9B5FAA0D8"><enum>(i)</enum><text>investigating the
viability of identifying revenue sources for repayment for projects;</text>
</clause><clause id="id8786DD46D5C24904B576F8D061B50B0A"><enum>(ii)</enum><text>technical
assistance;</text>
</clause><clause id="id1687E10D688D48CCB5AB5319822CBC76"><enum>(iii)</enum><text>promotion to
potential borrowers; and</text>
</clause><clause id="id0046D1145E844683AAB435996BC6FD0E"><enum>(iv)</enum><text>other activities
that would enhance the project pipeline.</text>
</clause></subparagraph><subparagraph id="id8DBF9C1C68E24E458BDADB6B2C4D13E0"><enum>(C)</enum><header>Nonparticipating
States</header>
<clause id="id6A432683700B404C8CCF4E71D449B24A"><enum>(i)</enum><header>In
general</header><text>The Secretary shall allocate to each State that elects
not to establish, or is prohibited by State law from establishing, an
infrastructure bank under this section an amount equal to, at the election of
the State—</text>
<subclause id="id517BF0F2EAB04D3DAD10EE6E082BFE01"><enum>(I)</enum><text>20 percent of the
amount that would otherwise be allocated to the State under subparagraph (A)
for—</text>
<item id="id22EC46F9A36044BC904CA5D29900BFF8"><enum>(aa)</enum><text>investigating
the viability of establishing such an infrastructure bank in the State;</text>
</item><item id="idF6070409F1F740329658D3B4C6E57B33"><enum>(bb)</enum><text>identifying
revenue sources for repayment for projects;</text>
</item><item id="id1C8544409E734AE4BB1317CB888A02FC"><enum>(cc)</enum><text>technical
assistance;</text>
</item><item id="idDA6022546C3A4BBBB5F0D4D987060661"><enum>(dd)</enum><text>promotion to
potential borrowers; and</text>
</item><item id="idC17F1027E3E14E7386DDE5B590C03456"><enum>(ee)</enum><text>other activities
that would enhance the project pipeline; or</text>
</item></subclause><subclause id="id54AE4954FE9B442E949E57BAE9B0F867"><enum>(II)</enum><text>10 percent of
the amount that would otherwise be allocated to the State under subparagraph
(A) for use for other surface transportation projects authorized under this
title or title 49.</text>
</subclause></clause><clause commented="no" id="id666DCB3F55524BF6959011752C7686F8"><enum>(ii)</enum><header>Use of
remaining funds</header><text>The amounts remaining after making an allocation
to a State under clause (i) shall be redistributed by the Secretary to States
with infrastructure banks under this section in accordance with subparagraph
(A).</text>
</clause></subparagraph><subparagraph commented="no" id="idCE875CCE60FC41D0BCFB229BAF3246EF"><enum>(D)</enum><header>Funding</header>
<clause id="idB23A6E735C054F3B9204016DC3C00EA1"><enum>(i)</enum><header>In
general</header><text>On October 1, 2012, out of any funds in the Treasury not
otherwise appropriated, the Secretary of the Treasury shall transfer to the
Secretary to carry out this paragraph $10,000,000,000, to remain available
until expended.</text>
</clause><clause id="id6CEBEA9A86EA4954B2C07781EA744076"><enum>(ii)</enum><header>Receipt and
acceptance</header><text>The Secretary shall be entitled to receive, shall
accept, and shall use to carry out this paragraph the funds transferred under
clause (i), without further appropriation.</text>
</clause></subparagraph><subparagraph id="idB4EC807067A4473285374975AB7BF1EE"><enum>(E)</enum><header>Non-Federal
share</header><text>The non-Federal share of the cost of a project carried out
using an allocation under this paragraph shall be 10
percent.</text>
</subparagraph></paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="id769B2249B11443999CFE64F38652EBCB"><enum>(2)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id7EE2E2A77AAA40D785CC8F8A82B15143" style="OLC">
<subsection id="id8C8A6069605E4F15BE63B5022CABBD8C"><enum>(l)</enum><header>Studies and
reports</header>
<paragraph id="id7255BA31F4244DD7997E5AE37EF83CC5"><enum>(1)</enum><header>Annual
financial audit</header>
<subparagraph id="id9D7B62D377104099A6873F8862E7FFF8"><enum>(A)</enum><header>In
general</header><text>The special single allocation described in subsection
(d)(5)(A) shall be subject to an annual financial audit by an independent
public accounting firm selected by the Inspector General to ensure that the
State infrastructure bank meets generally accepted accounting
principles.</text>
</subparagraph><subparagraph id="idB0DBB2B9A85D45AAA0C78F44F50873CF"><enum>(B)</enum><header>Availability</header><text>The
Inspector General shall—</text>
<clause id="idDE6AFA7AA3054AD2B0F832EACDE48E4F"><enum>(i)</enum><text>submit to the
appropriate committees of Congress the results of each audit carried out under
subparagraph (A); and</text>
</clause><clause id="id455350AF6B004B48B19881EF40900306"><enum>(ii)</enum><text>publish the
results of each audit carried out under subparagraph (A) on a publicly
accessible Internet site of the Department.</text>
</clause></subparagraph></paragraph><paragraph id="id9E98CADA0FF04E818A31FB0D949E1B14"><enum>(2)</enum><header>Annual
performance evaluation</header>
<subparagraph id="id1E2A71D45789404586E5A55554D98B99"><enum>(A)</enum><header>In
general</header><text>The Inspector General shall carry out an annual
assessment—</text>
<clause id="idA91CDB0E3EF844D78666153F8A8ED934"><enum>(i)</enum><text>to evaluate the
overall performance of the State infrastructure bank program; and</text>
</clause><clause id="idDB330249495A44E79D874FCA1F0735E3"><enum>(ii)</enum><text>to determine the
effectiveness of the program at meeting the objectives and strategy goals of
the program.</text>
</clause></subparagraph><subparagraph id="id6D50D696803848FE9D68134970DF6BE1"><enum>(B)</enum><header>Initial
review</header><text>In the first annual assessment carried out under this
paragraph, the Inspector General shall include a report that describes—</text>
<clause id="id49A6D33534864B819AF0AB7A73529283"><enum>(i)</enum><text>each State that
has established a State infrastructure bank under this section; and</text>
</clause><clause id="id7530805FA55843F3BAB6DC90F5CE2DEF"><enum>(ii)</enum><subclause commented="no" display-inline="yes-display-inline" id="id561AA7ECC4FA42718381CA54C3511CDB"><enum>(I)</enum><text>each State that elected
not to establish, or is prohibited by State law from establishing, such an
infrastructure bank; and</text>
</subclause><subclause id="idDD1E0EF0F9B64AAAB430D4052F45156B" indent="up1"><enum>(II)</enum><text>each State described in subclause (I)
that is investigating the viability of establishing an infrastructure bank in
the State under this section.</text>
</subclause></clause></subparagraph><subparagraph id="id6EB2B4352C5942AABD06093F3CB4CAA5"><enum>(C)</enum><header>Dissemination</header><text>The
Inspector General shall submit to the appropriate committees of Congress a
report that contains the results of each annual assessment carried out under
this
paragraph.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></section><section id="IDb1f7e146855f47ee84a370e7e9f1fa4c"><enum>202.</enum><header>Highway
infrastructure investment</header>
<subsection id="ID208993cd9a9a4a569130724d4776cb9b"><enum>(a)</enum><header>In
general</header><text>Out of any funds in the Treasury not otherwise
appropriated, there is appropriated to the Secretary of Transportation
(referred to in this section as the <term>Secretary</term>) $25,000,000,000
for—</text>
<paragraph id="id037E16B8182E43948BC4029BDCF5834C"><enum>(1)</enum><text>construction,
reconstruction, rehabilitation, resurfacing, restoration, and operational
improvements for highways (including Interstate highways) and bridges
(including bridges on public roads of all functional classifications);</text>
</paragraph><paragraph id="id8BCAA65FCC7B4CC6BBEBE19A38E47C9C"><enum>(2)</enum><text>the seismic
retrofit and painting of bridges and approaches to bridges and other elevated
structures; and</text>
</paragraph><paragraph id="id7536D2F97F594F4ABF189D3DE798C2D1"><enum>(3)</enum><text>the cost of
mitigation eligible under title 23, United States Code, necessary to address
adverse impacts of projects funded under this Act.</text>
</paragraph></subsection><subsection id="ID68ca5aa51d3c4ae1bde6e93a73aadb83"><enum>(b)</enum><header>Federal share;
limitation on obligations</header>
<paragraph id="idBDC764D44BAB4E9396784D8ACA405B34"><enum>(1)</enum><header>Federal
share</header><text>The Federal share payable on account of any project or
activity carried out using funds made available under this section shall be, at
the option of the recipient, up to 100 percent of the total cost of the project
or activity.</text>
</paragraph><paragraph id="idC90E3DF25DAC4FE6BE455DCA1A3CE6C8"><enum>(2)</enum><header>Limitation on
obligations</header><text>The funds made available under this section shall not
be subject to any limitation on obligations for Federal-aid highways and
highway safety construction programs established under title 23, United States
Code, or any other provision of law.</text>
</paragraph></subsection><subsection id="ID2ba58d642ff04477aaf5e4f18c4e3aff"><enum>(c)</enum><header>Availability</header><text>The
funds made available under this section shall be available for obligation until
the date that is 2 years after the date of enactment of this Act.</text>
</subsection><subsection id="ID528893d82e60484daa2a9d94ac4db2f5"><enum>(d)</enum><header>Distribution of
funds</header><text>After making the set-aside under subsection (h), the
Secretary shall apportion the funds made available under this section among
States in the same ratio as amounts apportioned among States for fiscal year
2011 under the Surface Transportation Extension Act of 2010 (Public Law
111–147; 124 Stat. 78).</text>
</subsection><subsection id="IDfa2b76b727cb4367928b5ad7d9643d4d"><enum>(e)</enum><header>Apportionment</header><text>The
apportionments under subsection (d) shall be made not later than 30 days after
the date of enactment of this Act.</text>
</subsection><subsection id="ID285f7a99e280405d9015a4c48f361673"><enum>(f)</enum><header>Redistribution</header>
<paragraph id="IDd5220bfacc574fa19c1a931cea548d1d"><enum>(1)</enum><header>Unobligated
funds</header><text>Subject to paragraph (2), not later than 1 year after the
date on which the apportionments are made under subsection (e), the Secretary
shall—</text>
<subparagraph id="id3982D2CBBBFE489FB17616ECDEB29507"><enum>(A)</enum><text>withdraw from
each recipient of funds apportioned under subsection (e) any unobligated funds;
and</text>
</subparagraph><subparagraph id="id6B8D49B9EE0248F9BDD2985223FA7D7E"><enum>(B)</enum><text>redistribute
those amounts in the manner described in the Surface Transportation Extension
Act of 2010 (Public Law 111–147; 124 Stat. 78) to States that have had no funds
withdrawn under this paragraph (excluding States that have opted not to
obligate funds under this section).</text>
</subparagraph></paragraph><paragraph id="id9DA1C2A5C4474BCE873E26C3E49EBCE8"><enum>(2)</enum><header>Extensions</header>
<subparagraph id="id8B44B876F7CA401C98BE221CEB814CE1"><enum>(A)</enum><header>In
general</header><text>Subject to subparagraph (B), at the request of a State,
the Secretary may provide an extension of the 1-year period described in
paragraph (1) only to the extent that the Secretary determines that the State
has encountered—</text>
<clause id="id60ED27E95B704E6AA79FAAF3F84D60C1"><enum>(i)</enum><text>extreme
conditions that create an unworkable bidding environment; or</text>
</clause><clause id="id54FDACA7D76A420DAB74756223D6932B"><enum>(ii)</enum><text>other
extenuating circumstances.</text>
</clause></subparagraph><subparagraph id="idEB8DB9B97C934E198AD05A7F6D5A297E"><enum>(B)</enum><header>Notice</header><text>Before
granting an extension under subparagraph (A), the Secretary shall submit to the
Committee on Transportation and Infrastructure of the House of Representatives
and the Committee on Environment and Public Works of the Senate a written
notice providing a thorough justification for the extension.</text>
</subparagraph></paragraph></subsection><subsection id="IDcfbe6f8740d344f88c38cd0e3706d9fa"><enum>(g)</enum><header>Conditions</header>
<paragraph id="IDaa061c85685f4de89570a61b39d4bbbb"><enum>(1)</enum><header>In
general</header><text>Funds made available under this section shall be
administered as if apportioned under chapter 1 of title 23, United States
Code.</text>
</paragraph><paragraph id="ID0706850641f644e091d20030846f0f79"><enum>(2)</enum><header>Advance
construction</header><text>Funds made available under this section shall not be
obligated for the purposes authorized under section 115(b) of title 23, United
States Code.</text>
</paragraph><paragraph id="ID850e5107e8364772b5e8ab69cbdf8ac8"><enum>(3)</enum><header>Funds under
other Acts</header><text>Funds made available under this section—</text>
<subparagraph id="id24239861948F430A8AE7E63D28020311"><enum>(A)</enum><text>shall be in
addition to all funds provided for fiscal year 2012 for <quote>Federal-aid
Highways</quote> in any other Act; and</text>
</subparagraph><subparagraph id="idF9DE1510D59649AEA01D31B7FC4561C9"><enum>(B)</enum><text>shall not affect
the distribution of any such funds.</text>
</subparagraph></paragraph><paragraph id="IDdf62795e1cb94a1daa8ac245037b9389"><enum>(4)</enum><header>Disadvantaged
business enterprises</header><text>Section 1101(b) of Public Law 109–59 (23
U.S.C. 101 note; 119 Stat. 1156) shall apply to the funds apportioned under
this section.</text>
</paragraph></subsection><subsection id="ID683d1402ac5b48c38299ff6e59c20bda"><enum>(h)</enum><header>Oversight</header><text>The
Secretary may set aside not more than 0.15 percent of the funds made available
under this section to fund oversight by the Administrator of the Federal
Highway Administration of projects and activities carried out using funds made
available to the Federal Highway Administration by this Act, to remain
available through September 30, 2015.</text>
</subsection></section><section id="id3F60EB05B2C04E87987B89CDFD657144"><enum>203.</enum><header>State
revolving loan funds</header>
<subsection id="idDD2F7EB1E613485BB77C373BC08734F7"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">In addition to any
other amounts made available under Federal law, on October 1, 2012, out of any
funds in the Treasury not otherwise appropriated, the Secretary of the Treasury
shall transfer to the Administrator of the Environmental Protection Agency
$800,000,000, to remain available until expended—</text>
<paragraph id="id9C64C08248414FAC95CE7B4110A1BC4F"><enum>(1)</enum><text>for State water
pollution control revolving funds under title VI of the Federal Water Pollution
Control Act (33 U.S.C. 1381 et seq.); and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id3EF05461C2584F9BA2242C044465A506"><enum>(2)</enum><text>for State
drinking water treatment revolving loan funds under section 1452 of the Safe
Drinking Water Act (42 U.S.C. 300j–12).</text>
</paragraph></subsection><subsection id="IDDDDB9AFAA4B2435EB9C6E3EA8D700BC2"><enum>(b)</enum><header>Receipt and
acceptance</header><text>The Administrator of the Environmental Protection
Agency shall be entitled to receive, shall accept, and shall use in accordance
with paragraphs (1) and (2) of subsection (a) the funds transferred under that
subsection, without further appropriation.<added-phrase reported-display-style="italic"></added-phrase></text>
</subsection></section><enum>III</enum><header>Regulatory
Reform</header>
<subtitle id="id184BA920B807482994100398BE5EB65B"><enum>A</enum><header>Clearing
unnecessary regulatory burdens</header>
<section id="idACF37F3EFC4749B09F55116F13DC3054" section-type="subsequent-section"><enum>301.</enum><header>Short
title</header><text display-inline="no-display-inline">This subtitle may be
cited as the <quote><short-title>Clearing Unnecessary
Regulatory Burdens Act</short-title></quote> or the <quote>CURB
Act</quote>.</text>
</section><section id="id3DBCE27EAB824CD1BBAE2EE037ECB2DA" section-type="subsequent-section"><enum>302.</enum><header>Regulatory
reform</header>
<subsection id="id357C94503B704DC38DBBF8D145922CAB"><enum>(a)</enum><header>Definitions</header><text display-inline="yes-display-inline">In this section—</text>
<paragraph id="id3F32FEC1DD4C4B829357A4610BC6F1D9"><enum>(1)</enum><text>the term
<term>Administrator</term> means the Administrator of the Office of Information
and Regulatory Affairs in the Office of Management and Budget;</text>
</paragraph><paragraph id="idC0AA57457C0647459F1435F5A0B9ADB6"><enum>(2)</enum><text>the term
<term>agency</term> has the same meaning as in section 3502(1) of title 44,
United States Code;</text>
</paragraph><paragraph id="id4FB74CBDF2FE46549EB31622A60BD83B"><enum>(3)</enum><text>the term
<term>economically significant guidance document</term> means a significant
guidance document that may reasonably be anticipated to lead to an annual
effect on the economy of $100,000,000 or more or adversely affect in a material
way the economy or a sector of the economy, except that economically
significant guidance documents do not include guidance documents on Federal
expenditures and receipts;</text>
</paragraph><paragraph id="id56712B08CD9F49D8B1F4DDEEBEBCB771"><enum>(4)</enum><text>the term
<term>disseminated</term>—</text>
<subparagraph id="id68EE0DF90E784D84A68A62CFDB5FB48A"><enum>(A)</enum><text>means prepared by
an agency and distributed to the public or regulated entities; and</text>
</subparagraph><subparagraph id="id5216E8598CD84F6699A0E8764BF494F9"><enum>(B)</enum><text>does not
include—</text>
<clause id="id332C5A61BF7A46C797EFDF464F45E69E"><enum>(i)</enum><text>distribution
limited to Federal Government employees;</text>
</clause><clause id="id5F21D136420C44C0B2978EB50E861357"><enum>(ii)</enum><text>intra- or
interagency use or sharing of Federal Government information; and</text>
</clause><clause id="id67EA44F3E3CE4AD69A103F1CA522833C"><enum>(iii)</enum><text>responses to
requests for agency records under section 552 of title 5, United States Code
(commonly referred to as the <quote>Freedom of Information Act</quote>),
section 552a of title 5, United States Code, (commonly referred to as the
<quote>Privacy Act</quote>), the Federal Advisory Committee Act (5 U.S.C.
App.), or other similar laws;</text>
</clause></subparagraph></paragraph><paragraph id="id4E6AB1EA02A04B35A998D71ED07B87CD"><enum>(5)</enum><text>the term
<term>guidance document</term> means an agency statement of general
applicability and future effect, other than a regulatory action, that sets
forth a policy on a statutory, regulatory or technical issue or an
interpretation of a statutory or regulatory issue;</text>
</paragraph><paragraph id="id856403458E874A2B9F7F3E5F3C27B7DB"><enum>(6)</enum><text>the term
<term>regulation</term> means an agency statement of general applicability and
future effect, which the agency intends to have the force and effect of law,
that is designed to implement, interpret, or prescribe law or policy or to
describe the procedure or practice requirements of an agency;</text>
</paragraph><paragraph id="idB42065B8B078426CB5726D5CCAEAB21C"><enum>(7)</enum><text>the term
<term>regulatory action</term> means any substantive action by an agency
(normally published in the Federal Register) that promulgates or is expected to
lead to the promulgation of a final regulation, including notices of inquiry,
advance notices of proposed rulemaking, and notices of proposed
rulemaking;</text>
</paragraph><paragraph id="id28BAE0364B2145C18E42B2A62CC1AF4F"><enum>(8)</enum><text>the term
<term>significant guidance document</term>—</text>
<subparagraph id="id385931D46A8B4599BB0F24814B0186F3"><enum>(A)</enum><text>means a guidance
document disseminated to regulated entities or the general public that may
reasonably be anticipated to—</text>
<clause id="idE49048A0ACBC4566A2829F8DC2956C26"><enum>(i)</enum><text>lead to an annual
effect on the economy of $100,000,000 or more or affect in a material way the
economy, a sector of the economy, productivity, competition, jobs, the
environment, public health or safety, or State, local, or tribal governments or
communities;</text>
</clause><clause id="id126F9E5AC9A9401EB60C40ABE944FE11"><enum>(ii)</enum><text>create a serious
inconsistency or otherwise interfere with an action taken or planned by another
agency;</text>
</clause><clause id="IDeb557916062e4508af690bcea8e32a48"><enum>(iii)</enum><text>materially
alter the budgetary impact of entitlements, grants, user fees, or loan programs
or the rights and obligations of recipients thereof; or</text>
</clause><clause id="ID65f54d322feb47adacd8d63e363536e6"><enum>(iv)</enum><text>raise novel
legal or policy issues arising out of legal mandates and the priorities,
principles, and provisions of this section; and</text>
</clause></subparagraph><subparagraph id="id5D954880E66E4212AC9346F49FB24FED"><enum>(B)</enum><text>does not
include—</text>
<clause id="id32396FF51FC7425B9A58D038AB80A433"><enum>(i)</enum><text>legal advisory
opinions for internal Executive Branch use and not for release (such as
Department of Justice Office of Legal Counsel opinions);</text>
</clause><clause id="idCBA1F39BF39B45C880BB1478E07A1C0A"><enum>(ii)</enum><text>briefs and other
positions taken by agencies in investigations, pre-litigation, litigation, or
other enforcement proceedings;</text>
</clause><clause id="id306A8652B695451F84B04D4EF29B718C"><enum>(iii)</enum><text>speeches;</text>
</clause><clause id="id2B0EDCB0FFC8413BAD9196B1C5479AAE"><enum>(iv)</enum><text>editorials;</text>
</clause><clause id="id37C84E6B71BA49CFA1E96F666069C37F"><enum>(v)</enum><text>media
interviews;</text>
</clause><clause id="idCAD98A7113C8418CBDA999B427ED9A1D"><enum>(vi)</enum><text>press
materials;</text>
</clause><clause id="id1813281546A04D888BD0A6A39DAAA59B"><enum>(vii)</enum><text>congressional
correspondence;</text>
</clause><clause id="id796BEED2FBEB47E2ADCABCFF3237CE00"><enum>(viii)</enum><text>guidance
documents that pertain to a military or foreign affairs function of the United
States (other than guidance on procurement or the import or export of
non-defense articles and services);</text>
</clause><clause id="idBD83B78C0EB34303805BD0DF963FA14F"><enum>(ix)</enum><text>grant
solicitations;</text>
</clause><clause id="id5418DA32DC8A4A6E8D77362D0293F0EB"><enum>(x)</enum><text>warning
letters;</text>
</clause><clause id="idA1B490C087CC4842ACAFA79B53151262"><enum>(xi)</enum><text>case or
investigatory letters responding to complaints involving fact-specific
determinations;</text>
</clause><clause id="id635AF6D9378A4230A1234AA96B6D6A1F"><enum>(xii)</enum><text>purely internal
agency policies;</text>
</clause><clause id="idDC97FBC6E26C4B2DA6BAB90EDA2988D3"><enum>(xiii)</enum><text>guidance
documents that pertain to the use, operation or control of a government
facility;</text>
</clause><clause id="id8FE1103FCD4D4ADC9832631E4999A5B5"><enum>(xiv)</enum><text>internal
guidance documents directed solely to other agencies; and</text>
</clause><clause id="id17A6D8F9818646429D553E3960F724BE"><enum>(xv)</enum><text>any other
category of significant guidance documents exempted by an agency head in
consultation with the Administrator; and</text>
</clause></subparagraph></paragraph><paragraph id="id4D5F9246CB2B4A40B85EC5E3A06EAA4B"><enum>(9)</enum><text>the term
<term>significant regulatory action</term> means any regulatory action that is
likely to result in a regulation that may—</text>
<subparagraph id="ID27b33d6de081495598b720b19b470ca1"><enum>(A)</enum><text>have an annual
effect on the economy of $100,000,000 or more or adversely affect in a material
way the economy, a sector of the economy, productivity, competition, jobs, the
environment, public health or safety, or State, local, or tribal governments or
communities;</text>
</subparagraph><subparagraph id="IDcfe9384cb948435a9aa6ddfa56374471"><enum>(B)</enum><text>create a serious
inconsistency or otherwise interfere with an action taken or planned by another
agency;</text>
</subparagraph><subparagraph id="ID39efd265308149ce892109dbe71ade66"><enum>(C)</enum><text>materially alter
the budgetary impact of entitlements, grants, user fees, or loan programs or
the rights and obligations of recipients thereof; or</text>
</subparagraph><subparagraph id="IDaa881baa7cf5457f88ee2a4811a00475"><enum>(D)</enum><text>raise novel legal
or policy issues arising out of legal mandates and the priorities, principles,
and provisions of this section.</text>
</subparagraph></paragraph></subsection><subsection id="idC8B055AF764B4BF3840C550F809C4CF3"><enum>(b)</enum><header>Agency
assessment of significant regulatory actions</header><text display-inline="yes-display-inline">For each significant regulatory action,
each agency shall submit, at such times specified by the Administrator, a
report to the Office of Information and Regulatory Affairs that
includes—</text>
<paragraph id="ID3b601023aaf54fb89fa80c954ae691b5"><enum>(1)</enum><text>an assessment,
including the underlying analysis, of benefits anticipated from the significant
regulatory action, such as—</text>
<subparagraph id="id341BC0FCFA58435F8B70A8CA8C919780"><enum>(A)</enum><text>the promotion of
the efficient functioning of the economy and private markets;</text>
</subparagraph><subparagraph id="id9CBAEAC0E2C54D3BBAC982EB35ED8284"><enum>(B)</enum><text>the enhancement
of health and safety;</text>
</subparagraph><subparagraph id="idAE9928FB26914498A150F5633AF93941"><enum>(C)</enum><text>the protection of
the natural environment; and</text>
</subparagraph><subparagraph id="idA9E8D0EF2A35452B9786215416048037"><enum>(D)</enum><text>the elimination
or reduction of discrimination or bias;</text>
</subparagraph></paragraph><paragraph id="idB3F2973A51CE42D0A416B3455EDB2349"><enum>(2)</enum><text>to the extent
feasible, a quantification of the benefits assessed under paragraph (1);</text>
</paragraph><paragraph id="ID72c1dea3486b4ab89c214f20681557ca"><enum>(3)</enum><text>an assessment,
including the underlying analysis, of costs anticipated from the regulatory
action, such as—</text>
<subparagraph id="id6A627996FB4F4E50A2806DF53A205AD5"><enum>(A)</enum><text>the direct cost
both to the Federal Government in administering the significant regulatory
action and to businesses, consumers, and others (including State, local, and
tribal officials) in complying with the regulation; and</text>
</subparagraph><subparagraph id="id28B32B45FE0345489EE7DC59AC1602B6"><enum>(B)</enum><text>any adverse
effects on the efficient functioning of the economy, private markets (including
productivity, employment, and competitiveness), health, safety, the natural
environment, job creation, the prices of consumer goods, and energy
costs;</text>
</subparagraph></paragraph><paragraph id="idB507FEFC65F14713B7182D4B60D70BDC"><enum>(4)</enum><text>to the extent
feasible, a quantification of the costs assessed under paragraph (3);
and</text>
</paragraph><paragraph id="ID49a811dbaf664ad0a4c73ff7f266f173"><enum>(5)</enum><text>an assessment,
including the underlying analysis, of costs and benefits of potentially
effective and reasonably feasible alternatives to the planned significant
regulatory action, identified by the agency or the public (including improving
the current regulation and reasonably viable nonregulatory actions), and an
explanation why the planned regulatory action is preferable to the identified
potential alternatives.</text>
</paragraph></subsection><subsection id="id4B529E076D05432F94E34A38657134CB"><enum>(c)</enum><header>Agency good
guidance practices</header>
<paragraph id="idF6DC2C62BE6D4CDE9D078E1659B2A013"><enum>(1)</enum><header>Agency
standards for significant guidance documents</header>
<subparagraph id="id48FA03352EBC4648B3EB8492A1202F04"><enum>(A)</enum><header>Approval
procedures</header>
<clause id="id2656356406B4475694E5AA58B2B471F7"><enum>(i)</enum><header>In
general</header><text>Each agency shall develop or have written procedures for
the approval of significant guidance documents, which shall ensure that the
issuance of significant guidance documents is approved by appropriate senior
agency officials.</text>
</clause><clause id="idD5FF100ADC2A4647B1F84674180D8BFB"><enum>(ii)</enum><header>Requirement</header><text>Employees
of an agency may not depart from significant guidance documents without
appropriate justification and supervisory concurrence.</text>
</clause></subparagraph><subparagraph id="idF596DC047625418783F98FEB5296D4F6"><enum>(B)</enum><header>Standard
elements</header><text>Each significant guidance document—</text>
<clause id="idDDCC97DBD254402EB3AD7698723DFBBA"><enum>(i)</enum><text>shall—</text>
<subclause id="ID70a8a62dbc9d48bcbbe03f01815ce329"><enum>(I)</enum><text>include the term
<quote>guidance</quote> or its functional equivalent;</text>
</subclause><subclause id="IDc0653d3c95214173ad9dd02990925fad"><enum>(II)</enum><text>identify the
agency or office issuing the document;</text>
</subclause><subclause id="ID4e729ef32075435ebf5e19a8390d622a"><enum>(III)</enum><text>identify the
activity to which and the persons to whom the significant guidance document
applies;</text>
</subclause><subclause id="ID441b070ca97648be948dd4bdaf2ff96c"><enum>(IV)</enum><text>include the date
of issuance;</text>
</subclause><subclause id="ID6ddb021923854f0787f837912d59a3a0"><enum>(V)</enum><text>note if the
significant guidance document is a revision to a previously issued guidance
document and, if so, identify the document that the significant guidance
document replaces;</text>
</subclause><subclause id="ID5ce5809819254e8fba92f0babdd7705f"><enum>(VI)</enum><text>provide the
title of the document and a document identification number; and</text>
</subclause><subclause id="IDeae9bec1385847ba8e74869844359365"><enum>(VII)</enum><text>include the
citation to the statutory provision or regulation (in Code of Federal
Regulations format) which the significant guidance document applies to or
interprets; and</text>
</subclause></clause><clause id="ID0b54b4395e194c9db564cc82ce9e20e9"><enum>(ii)</enum><text>shall not
include mandatory terms such as <quote>shall</quote>, <quote>must</quote>,
<quote>required</quote>, or <quote>requirement</quote> unless—</text>
<subclause id="id05642E41DBF04BF98BC5A4157A3DE7E4"><enum>(I)</enum><text>the agency is
using those terms to describe a statutory or regulatory requirement; or</text>
</subclause><subclause id="idD7BA00FE7CAF4EC1BC466DB54FA6C782"><enum>(II)</enum><text>the terminology
is addressed to agency staff and will not foreclose agency consideration of
positions advanced by affected private parties.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="id23BB8D893F8742FCA2AE50DD72212EB8"><enum>(2)</enum><header>Public access
and feedback for significant guidance documents</header>
<subparagraph id="id1D35A365BE9349FA9EC6AF338F30C53C"><enum>(A)</enum><header>Internet
access</header>
<clause id="id0A81DC282D614995AFD0A9A7F9BDFA90"><enum>(i)</enum><header>In
general</header><text>Each agency shall—</text>
<subclause id="id1F59794F392A4643B49F9C5707CA5BDF"><enum>(I)</enum><text>maintain on the
Web site for the agency, or as a link on the Web site of the agency to the
electronic list posted on a Web site of a component of the agency a list of the
significant guidance documents in effect of the agency, including a link to the
text of each significant guidance document that is in effect; and</text>
</subclause><subclause id="id56A7F6BD098647A39936AA713268A967"><enum>(II)</enum><text>not later than
30 days after the date on which a significant guidance document is issued,
update the list described in clause (i).</text>
</subclause></clause><clause id="id46F4526B31164EF8860DEADEAFAB6B98"><enum>(ii)</enum><header>List
requirements</header><text>The list described in subparagraph (A)(i)
shall—</text>
<subclause id="id565EEDA4C19E422C8CB91A5C5CFCB693"><enum>(I)</enum><text>include the name
of each—</text>
<item id="id2F9CEF32C9084692B02D6D9238B046BB"><enum>(aa)</enum><text>significant
guidance document;</text>
</item><item id="id286910A8D5F640A9BDF742ADCAF0DD00"><enum>(bb)</enum><text>document
identification number; and</text>
</item><item id="idB352289827124B4BA293E97CE6230C19"><enum>(cc)</enum><text>issuance and
revision dates; and</text>
</item></subclause><subclause id="id3AE42977F9DA40AE88161942DAD57221"><enum>(II)</enum><text>identify
significant guidance documents that have been added, revised, or withdrawn in
the preceding year.</text>
</subclause></clause></subparagraph><subparagraph id="id656967EB6AEC4F448B5B263830B924AE"><enum>(B)</enum><header>Public
feedback</header>
<clause id="idEC2DE8CE79514B6580FCC60E9DE2C62A"><enum>(i)</enum><header>In
general</header><text>Each agency shall establish and clearly advertise on the
Web site for the agency a means for the public to electronically submit—</text>
<subclause id="id3B85A0C4F38442C09C5247FC2836C912"><enum>(I)</enum><text>comments on
significant guidance documents; and</text>
</subclause><subclause id="idCC68B8381FF64A63819506C0D698F510"><enum>(II)</enum><text>a request for
issuance, reconsideration, modification, or rescission of significant guidance
documents.</text>
</subclause></clause><clause id="id40803098AD754F2882066BEE27ECDA19"><enum>(ii)</enum><header>Agency
response</header><text>Any comments or requests submitted under subparagraph
(A)—</text>
<subclause id="idF681A4EB5D8E4ACB82DF82E74C191FF0"><enum>(I)</enum><text>are for the
benefit of the agency; and</text>
</subclause><subclause id="id02EFCA4E65154CF6947DAEE26EEBBB2D"><enum>(II)</enum><text>shall not
require a formal response from the agency.</text>
</subclause></clause><clause id="id364882D55F1E4E95AD26A322B204BAE3"><enum>(iii)</enum><header>Office for
public comments</header>
<subclause id="idF9603E72D46444C3BB9B8280949C1996"><enum>(I)</enum><header>In
general</header><text>Each agency shall designate an office to receive and
address complaints from the public relating to—</text>
<item id="idC02289212D764AE5AB61FB9C52BD2A14"><enum>(aa)</enum><text>the
failure of the agency to follow the procedures described in this section;
or</text>
</item><item id="id3226BAAD067346AE80821F8F185C6CB7"><enum>(bb)</enum><text>the
failure to treat a significant guidance document as a binding
requirement.</text>
</item></subclause><subclause id="id1692F4359EDA442598E0BC6054FAF004"><enum>(II)</enum><header>Web
site</header><text>The agency shall provide, on the Web site of the agency, the
name and contact information for the office designated under clause (i).</text>
</subclause></clause></subparagraph></paragraph><paragraph id="idACA2BF5934E94580ACE99291AE5E3DED"><enum>(3)</enum><header>Notice and
public comment for economically significant guidance documents</header>
<subparagraph id="id9D5593C103984268BB2F4DF93E711D01"><enum>(A)</enum><header>In
general</header><text>Except as provided in paragraph (2), in preparing a draft
of an economically significant guidance document, and before issuance of the
final significant guidance document, each agency shall—</text>
<clause id="IDc79d38b63402410aaf04ff6fcc88c723"><enum>(i)</enum><text>publish a notice
in the Federal Register announcing that the draft document is available;</text>
</clause><clause id="IDdd45f262017046d1b1b1025e82999f99"><enum>(ii)</enum><text>post the draft
document on the Internet and make a tangible copy of that document publicly
available (or notify the public how the public can review the guidance document
if the document is not in a format that permits such electronic posting with
reasonable efforts);</text>
</clause><clause id="IDfc6d242999514968aa43d693ace69d99"><enum>(iii)</enum><text>invite public
comment on the draft document; and</text>
</clause><clause id="ID8e993acb379b4d1f87f1c1582eb2d0df"><enum>(iv)</enum><text>prepare and post
on the Web site of the agency a document with responses of the agency to public
comments.</text>
</clause></subparagraph><subparagraph id="idC8A7393F83464D9C986182F559FEB3AD"><enum>(B)</enum><header>Exceptions</header><text>In
consultation with the Administrator, an agency head may identify a particular
economically significant guidance document or category of such documents for
which the procedures of this subsection are not feasible or appropriate.</text>
</subparagraph></paragraph><paragraph id="id90E069345B1946DCA8D4D46C56E752BA"><enum>(4)</enum><header>Emergencies</header>
<subparagraph id="id3782836661594EF58256863FC803075B"><enum>(A)</enum><header>In
general</header><text>In emergency situations or when an agency is obligated by
law to act more quickly than normal review procedures allow, the agency shall
notify the Administrator as soon as possible and, to the extent practicable,
comply with this subsection.</text>
</subparagraph><subparagraph id="id138158D49CF64B0CBBCBCD3EBE4112A2"><enum>(B)</enum><header>Significant
guidance documents subject to statutory or court-imposed
deadline</header><text>For a significant guidance document that is governed by
a statutory or court-imposed deadline, the agency shall, to the extent
practicable, schedule the proceedings of the agency to permit sufficient time
to comply with this subsection.</text>
</subparagraph></paragraph><paragraph id="id22DAC39BA02844BCBCD713C64D37DA82"><enum>(5)</enum><header>Effective
date</header><text>This section shall take effect 60 days after the date of
enactment of this subtitle.</text>
</paragraph></subsection></section><section id="id899AF642F1ED4D7B9B51803FCCCD1A1B"><enum>303.</enum><header>Reduction or
waiver of civil penalties imposed on small entities</header>
<subsection id="id04749F053B39450FA30E85CFEA740A7D"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Chapter 6 of title 5,
United States Code, is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id01B9467DC4864E8DBF2497F81B8BC4DC" style="USC">
<section id="id8333345CE9134E7F9A11E30C069EC920"><enum>613.</enum><header>Reduction or
waiver of civil penalties imposed on small entities</header>
<subsection id="id497EB090DD1B419AAECA293F11C5960E"><enum>(a)</enum><text>Upon notifying a
small entity of a violation by the small entity of a collection of information
or recordkeeping requirement, the agency shall provide the small entity with an
opportunity to request that the agency reduce or waive any civil penalty
imposed on the small entity as a result of the violation.</text>
</subsection><subsection id="idEEC48A6F832B466895B91F524381A5D2"><enum>(b)</enum><text>If a small entity
requests a reduction or waiver under subsection (a), the agency that receives
the request shall—</text>
<paragraph id="id22876F6478FA43B2A56C5C40EF891190"><enum>(1)</enum><text>review the
records of the agency; and</text>
</paragraph><paragraph id="id09F2428CB56848DBB4230FD4E33368BA"><enum>(2)</enum><text>reduce or waive
the civil penalty imposed on the small entity if the agency determines
that—</text>
<subparagraph id="id04EA70CD5DE4427BA41CC210AEF8ABCF"><enum>(A)</enum><text>the civil penalty
was the result of a first-time violation by the small entity of a collection of
information or recordkeeping requirement; and</text>
</subparagraph><subparagraph id="idA3F7EA0BF9CC47CCA379496F10DE5953"><enum>(B)</enum><text>the reduction or
waiver is consistent with the conditions and exclusions described in paragraphs
(1), (3), (4), (5), and (6) of section 223(b) of the Small Business Regulatory
Enforcement Fairness Act of 1996 (5 U.S.C. 601 note).</text>
</subparagraph></paragraph></subsection><subsection id="idB72E7AC793BC43CF8EF1DD900B18536A"><enum>(c)</enum><text>Not later than 60
days after the receipt of a request from a small entity under subsection (a),
an agency shall send the small entity written notice of the determination of
the agency with respect to the request and the reasons for the
determination.</text>
</subsection><subsection id="idE93CC0C26F97433DB66F93C24D930388"><enum>(d)</enum><text>The Chief Counsel
for Advocacy shall submit to Congress an annual report summarizing—</text>
<paragraph id="id779803E8DAE74B7AA43D01AE84DC4B67"><enum>(1)</enum><text>all requests
received by the agencies under subsection (a) during the previous year;
and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id2F4C4E66521E4D198CE946B1B585B761"><enum>(2)</enum><text>the results of
the requests described in paragraph
(1).</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID5D526E662BF247EBB8A32FE651FAA44F"><enum>(b)</enum><header>Technical and
conforming amendment</header><text>The table of sections for chapter 6 of title
5, United States Code, is amended by adding at the end the following:</text>
<quoted-block id="ID7826032A1686420783F3B09CDC8250C0" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">613. Reduction or waiver of civil
penalties imposed on small
entities.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="id5B84737ADDD548AB8D9B8F37E3734A93"><enum>B</enum><header>EPA regulatory
relief</header>
<section id="HD6507949C8534034A212C105B6AE53A8" section-type="subsequent-section"><enum>311.</enum><header>Short
title</header><text display-inline="no-display-inline">This subtitle may be
cited as the <quote><short-title>EPA Regulatory Relief Act
of 2011</short-title></quote>.</text>
</section><section id="H38BC8F2056FA4621935664490FF351FF"><enum>312.</enum><header>Legislative
stay</header>
<subsection id="H8A233E95E5494F53BE0E2476EE644ADF"><enum>(a)</enum><header>Establishment of
standards</header><text display-inline="yes-display-inline">In place of the
rules specified in subsection (b), and notwithstanding the date by which such
rules would otherwise be required to be promulgated, the Administrator of the
Environmental Protection Agency (in this subtitle referred to as the
<term>Administrator</term>) shall—</text>
<paragraph commented="no" id="H6B00C2D260554B67BF3DC329EB642625"><enum>(1)</enum><text display-inline="yes-display-inline">propose regulations for industrial,
commercial, and institutional boilers and process heaters, and commercial and
industrial solid waste incinerator units, subject to any of the rules specified
in subsection (b)—</text>
<subparagraph commented="no" id="H7AEE21CB50984264A361F3884ABD1578"><enum>(A)</enum><text>establishing
maximum achievable control technology standards, performance standards, and
other requirements under sections 112 and 129, as applicable, of the
<act-name>Clean Air Act</act-name> (42 U.S.C. 7412, 7429); and</text>
</subparagraph><subparagraph commented="no" id="H48C06FE64E0C4E0BB55EF0B2DAA69342"><enum>(B)</enum><text>identifying
non-hazardous secondary materials that, when used as fuels or ingredients in
combustion units of such boilers, process heaters, or incinerator units are
solid waste under the Solid Waste Disposal Act (42 U.S.C. 6901 et seq.;
commonly referred to as the <quote><act-name>Resource Conservation and Recovery
Act</act-name></quote>) for purposes of determining the extent to which such
combustion units are required to meet the emissions standards under section 112
of the <act-name>Clean Air Act</act-name> (42 U.S.C. 7412) or the emission
standards under section 129 of such Act (42 U.S.C. 7429); and</text>
</subparagraph></paragraph><paragraph id="H17E70A7925004A35971CC30DA7A52CC2"><enum>(2)</enum><text display-inline="yes-display-inline">finalize the regulations on the date that
is 15 months after the date of the enactment of this subtitle, or on such later
date as may be determined by the Administrator.</text>
</paragraph></subsection><subsection id="HE5B0B9A4A23D42EEBA1902274547F1C5"><enum>(b)</enum><header>Stay of earlier
rules</header><text>The following rules are of no force or effect, shall be
treated as though such rules had never taken effect, and shall be replaced as
described in subsection (a):</text>
<paragraph display-inline="no-display-inline" id="HED429EA0EB084BE7BC5CBFF1C8FFD0CF"><enum>(1)</enum><text><quote>National
Emission Standards for Hazardous Air Pollutants for Major Sources: Industrial,
Commercial, and Institutional Boilers and Process Heaters</quote>, published at
76 Fed. Reg. 15608 (March 21, 2011).</text>
</paragraph><paragraph id="HF1C35615A01F4DE0AFB7BE90DAA4E088"><enum>(2)</enum><text><quote>National
Emission Standards for Hazardous Air Pollutants for Area Sources: Industrial,
Commercial, and Institutional Boilers</quote>, published at 76 Fed. Reg. 15554
(March 21, 2011).</text>
</paragraph><paragraph commented="no" id="H346AB5B483BA449098A3CE3B4D8D79AE"><enum>(3)</enum><text><quote>Standards
of Performance for New Stationary Sources and Emission Guidelines for Existing
Sources: Commercial and Industrial Solid Waste Incineration Units</quote>,
published at 76 Fed. Reg. 15704 (March 21, 2011).</text>
</paragraph><paragraph commented="no" id="H9947A2596B2B46F2A0081353ADB6D323"><enum>(4)</enum><text display-inline="yes-display-inline"><quote>Identification of Non-Hazardous
Secondary Materials That are Solid Waste</quote>, published at 76 Fed. Reg.
15456 (March 21, 2011).</text>
</paragraph></subsection><subsection id="HCA400940AD464EE1A7BD1CD2F078A440"><enum>(c)</enum><header>Inapplicability
of certain provisions</header><text>With respect to any standard required by
subsection (a) to be promulgated in regulations under section 112 of the
<act-name>Clean Air Act</act-name> (42 U.S.C. 7412), the provisions of
subsections (g)(2) and (j) of such section 112 shall not apply prior to the
effective date of the standard specified in such regulations.</text>
</subsection></section><section commented="no" id="HD0BCCE6542E840668D585EAAE2F2552A"><enum>313.</enum><header>Compliance
dates</header>
<subsection id="H9DE3C932AF9842B6856B9E21611D58DC"><enum>(a)</enum><header>Establishment of
compliance dates</header><text display-inline="yes-display-inline">For each
regulation promulgated pursuant to section 312, the Administrator—</text>
<paragraph id="HE2BE757C8E0C4D20A7947DA922977D1B"><enum>(1)</enum><text>shall establish a
date for compliance with standards and requirements under such regulation that
is, notwithstanding any other provision of law, not earlier than 5 years after
the effective date of the regulation; and</text>
</paragraph><paragraph id="H8F35E6B9258A4CAC9B021551C35D3F00"><enum>(2)</enum><text>in proposing a
date for such compliance, shall take into consideration—</text>
<subparagraph id="H67483967B7B344409259075824FF9EF0"><enum>(A)</enum><text>the costs of
achieving emissions reductions;</text>
</subparagraph><subparagraph id="H90F5FC2695E449B2B5022E3CB6FEF880"><enum>(B)</enum><text>any non-air
quality health and environmental impact and energy requirements of the
standards and requirements;</text>
</subparagraph><subparagraph commented="no" id="HEEEE1EEBEE6D4947BD50D38939E3659E"><enum>(C)</enum><text>the feasibility of
implementing the standards and requirements, including the time needed
to—</text>
<clause id="HCF6BD0EF93084A6EB38F32E87E8D9091"><enum>(i)</enum><text>obtain necessary
permit approvals; and</text>
</clause><clause id="HB5C7CC7B9359478FA2BF8A75BF4BECE8"><enum>(ii)</enum><text>procure, install,
and test control equipment;</text>
</clause></subparagraph><subparagraph id="HE8111FDDA20B427D90808982720F1DE0"><enum>(D)</enum><text>the availability
of equipment, suppliers, and labor, given the requirements of the regulation
and other proposed or finalized regulations of the Environmental Protection
Agency; and</text>
</subparagraph><subparagraph id="HFFBE97569B9F48BD9B2BE7BBC9745ED1"><enum>(E)</enum><text>potential net
employment impacts.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HFE92D1754C9A438DBEB668DB86874F5D"><enum>(b)</enum><header>New
sources</header><text display-inline="yes-display-inline">The date on which the
Administrator proposes a regulation pursuant to section 312(a)(1) establishing
an emission standard under section 112 or 129 of the <act-name>Clean Air
Act</act-name> (42 U.S.C. 7412, 7429) shall be treated as the date on which the
Administrator first proposes such a regulation for purposes of applying the
definition of a new source under section 112(a)(4) of such Act (42 U.S.C.
7412(a)(4)) or the definition of a new solid waste incineration unit under
section 129(g)(2) of such Act (42 U.S.C. 7429(g)(2)).</text>
</subsection><subsection id="H095E55D9F7F34112A861A6C7925E59E0"><enum>(c)</enum><header>Rule of
construction</header><text display-inline="yes-display-inline">Nothing in this
subtitle shall be construed to restrict or otherwise affect the provisions of
paragraphs (3)(B) and (4) of section 112(i) of the <act-name>Clean Air
Act</act-name> (42 U.S.C. 7412(i)).</text>
</subsection></section><section commented="no" id="H83C269FCAB1E4412AD6AF90552623420"><enum>314.</enum><header>Energy recovery
and conservation</header>
<subsection id="idF15AF6DC418F4A7C999B7605EB442E9A"><enum>(a)</enum><header>In
general</header><text>Notwithstanding any other provision of law, to ensure the
recovery and conservation of energy consistent with the <act-name>Solid Waste
Disposal Act</act-name> (42 U.S.C. 6901 et seq.) (commonly known as the
<quote><act-name>Resource Conservation and Recovery Act of
1976</act-name></quote>), in promulgating regulations under section 312(a) that
address the subject matter of the regulations described in paragraphs (3) and
(4) of section 312(b), the Administrator shall—</text>
<paragraph commented="no" id="H1EEC1074BC9F468E8567BA93550B5B82"><enum>(1)</enum><text>adopt the
definitions of the terms <term>commercial and industrial solid waste
incineration unit</term>, <term>commercial and industrial waste</term>, and
<term>contained gaseous material</term> contained in the regulation entitled
<quote>Standards of Performance for New Stationary Sources and Emission
Guidelines for Existing Sources: Commercial and Industrial Solid Waste
Incineration Units</quote> (65 Fed. Reg. 75338 (December 1, 2000)); and</text>
</paragraph><paragraph commented="no" id="HF305132071A242C996E7C1F794474091"><enum>(2)</enum><text>identify
nonhazardous secondary material as not to be solid waste for purposes of the
<act-name>Solid Waste Disposal Act</act-name> (42 U.S.C. 6901 et seq.)
if—</text>
<subparagraph commented="no" id="H7D74DBE4264E4347B845BB8FA6D9D645"><enum>(A)</enum><text>the
material—</text>
<clause commented="no" id="idBEC4E195ED3F47D49D06CB75DEFC4B1D"><enum>(i)</enum><text>does not meet the
definition of commercial and industrial waste; and</text>
</clause><clause commented="no" id="id35A12D14C2964C0D8CFD34174B3695D4"><enum>(ii)</enum><text>is on the list
published by the Administrator under subsection (b); or</text>
</clause></subparagraph><subparagraph commented="no" id="id73B4082B7F3143CD8DEA6B2370523ABA"><enum>(B)</enum><text>in the case of
the material that is a gas, the material does not meet the definition of
contained gaseous material.</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="id536E774A91FC4AB0B2F31A9145145129"><enum>(b)</enum><header>List of
nonhazardous secondary materials</header>
<paragraph commented="no" id="idE289C1CF38EF4A60A45B364E8F2647F3"><enum>(1)</enum><header>In
general</header><text>Not later than 120 days after the date of enactment of
this subtitle, the Administrator shall publish a list of nonhazardous secondary
materials that are not solid waste when combusted in units designed for energy
recovery, including—</text>
<subparagraph commented="no" id="id043E751C89C84D36930550C4305AD087"><enum>(A)</enum><text>without
limitation, all forms of biomass, including—</text>
<clause commented="no" id="idE7FBBD9605DE48258891F724EB23B4BA"><enum>(i)</enum><text>agricultural and
forest-derived biomass;</text>
</clause><clause commented="no" id="id63244FE3D6FB41E09666E105B7859C72"><enum>(ii)</enum><text>biomass crops,
vines, and orchard trees;</text>
</clause><clause commented="no" id="idA08523649E78483EBF904F10B8E659B4"><enum>(iii)</enum><text>bagasse and
other crop and tree residues, including—</text>
<subclause commented="no" id="id74CCD0D613EF49EAB2F5A73776DA92AA"><enum>(I)</enum><text>hulls and
seeds;</text>
</subclause><subclause commented="no" id="id6A6A3E4305074ACDAB35D7947057C9EA"><enum>(II)</enum><text>spent
grains;</text>
</subclause><subclause commented="no" id="id0324CAB6649F4BC18725E6FD0D65BDBE"><enum>(III)</enum><text>byproducts of
cotton;</text>
</subclause><subclause commented="no" id="id3B82E9307202433B86036D5B7D9E61A3"><enum>(IV)</enum><text>corn and peanut
production;</text>
</subclause><subclause commented="no" id="idD098D77AFF2746248303C342EC5CA30F"><enum>(V)</enum><text>rice milling and
grain elevator operations;</text>
</subclause><subclause commented="no" id="idC13AEA86E9CF4C65BA87CA0271F274A4"><enum>(VI)</enum><text>cellulosic
biofuels; and</text>
</subclause><subclause commented="no" id="id05612E05777B49468A33B19BE9656604"><enum>(VII)</enum><text>byproducts of
ethanol natural fermentation processes;</text>
</subclause></clause><clause commented="no" id="id9EEF9BAEC7614B43B50B357B9E548599"><enum>(iv)</enum><text>hogged fuel,
including wood pallets, sawdust, and wood pellets;</text>
</clause><clause commented="no" id="id847A6E0519F64421BA43AA9A22DAD225"><enum>(v)</enum><text>wood debris from
forests and urban areas;</text>
</clause><clause commented="no" id="id070B5F2AC7F944F9B01B1B6C27FF1B50"><enum>(vi)</enum><text>resinated wood
and other resinated biomass-derived residuals, including trim, sanderdust,
offcuts, and woodworking residuals;</text>
</clause><clause commented="no" id="id71468EBA11A349C3B2DD079E800C4859"><enum>(vii)</enum><text>creosote-treated,
borate-treated, sap-stained, and other treated wood;</text>
</clause><clause commented="no" id="id7E6E1700CCB144D08E8F322D960B62D2"><enum>(viii)</enum><text>residuals from
wastewater treatment by the manufacturing industry, including process
wastewater with significant British thermal unit (<term>Btu</term>)
value;</text>
</clause><clause commented="no" id="id42D58086C35C4944B4533B055562D404"><enum>(ix)</enum><text>paper and paper
or cardboard recycling residuals, including paper-derived fuel cubes, paper
fines, and paper and cardboard rejects;</text>
</clause><clause commented="no" id="idC4E5BAA60E404F03BE672AED77C7A523"><enum>(x)</enum><text>turpentine,
turpentine derivatives, pine tar, rectified methanol, glycerine, lumber kiln
condensates, and wood char;</text>
</clause><clause commented="no" id="id7103C2F76D1C4C5C8DD6131435E2E3F6"><enum>(xi)</enum><text>tall oil and
related soaps;</text>
</clause><clause commented="no" id="idADEDB44FE9E943C9B9E6A07D1CFDFFCF"><enum>(xii)</enum><text>biogases or
bioliquids generated from biomass materials, wastewater operations, or landfill
operations;</text>
</clause><clause commented="no" id="idFB8F8501E385491CB43C4AF886D65D96"><enum>(xiii)</enum><text>processed
biomass derived from construction and demolition debris for the purpose of fuel
production; and</text>
</clause><clause commented="no" id="id03FD878EAF4D4E0D9B1BF3DB0E5D8AF6"><enum>(xiv)</enum><text>animal manure
and bedding material;</text>
</clause></subparagraph><subparagraph commented="no" id="id34F93E22424E44558C6DC200FB8F859D"><enum>(B)</enum><text>solid and
emulsified paraffin;</text>
</subparagraph><subparagraph commented="no" id="idA3EECBA127B547F0906589FD12054E3B"><enum>(C)</enum><text>petroleum and
chemical reaction and distillation byproducts and residues, alcohol, ink, and
nonhalogenated solvents;</text>
</subparagraph><subparagraph commented="no" id="idB4182B286CFD44B2B1615A61AAD444DD"><enum>(D)</enum><text>tire-derived
fuel, including factory scrap tire and related material;</text>
</subparagraph><subparagraph commented="no" id="id3A731B52CA90410D86B3892E39709089"><enum>(E)</enum><text>foundry sand
processed in thermal reclamation units;</text>
</subparagraph><subparagraph commented="no" id="id1B045ED7B8F746FB81CD69EA7466AB87"><enum>(F)</enum><text>coal refuse and
coal combustion residuals;</text>
</subparagraph><subparagraph commented="no" id="id344C59744C5B4E339E010029DF95E95E"><enum>(G)</enum><text>shredded cloth
and carpet scrap;</text>
</subparagraph><subparagraph commented="no" id="idC01DBCF82E6A4D2F89789C1582313EEE"><enum>(H)</enum><text>latex paint
water, organic printing dyes and inks, recovered paint solids, and nonmetallic
paint sludges;</text>
</subparagraph><subparagraph commented="no" id="id82100E3968104281A80971849B93B164"><enum>(I)</enum><text>nonchlorinated
plastics;</text>
</subparagraph><subparagraph commented="no" id="id4B246EB0ADDD4C9E9E01211CFA8BEBB4"><enum>(J)</enum><text>all used oil that
qualifies as recycled oil under section 1004 of the <act-name>Solid Waste
Disposal Act</act-name> (42 U.S.C. 6903);</text>
</subparagraph><subparagraph commented="no" id="idFAF422E6470347ACA2F9345FFDF458BC"><enum>(K)</enum><text>process densified
fuels that contain any of the materials described in this paragraph; and</text>
</subparagraph><subparagraph commented="no" id="idC9EB29A17C104D3696A93B885922CC5A"><enum>(L)</enum><text>any other
specific or general categories of material that the Administrator determines
the combustion of which is for use as a fuel pursuant to paragraph (2).</text>
</subparagraph></paragraph><paragraph commented="no" id="id07EBE3D0D7CB438A9E8B6E7A445BA136"><enum>(2)</enum><header>Additions to
the list</header>
<subparagraph commented="no" id="idB0607DB34D594B44AA2CE770CC62A27F"><enum>(A)</enum><header>In
general</header><text>To provide greater regulatory certainty, the
Administrator may, after public notice and opportunity to comment, add
nonhazardous secondary materials to the list published under paragraph
(1)—</text>
<clause commented="no" id="id47C9AF09756B40BD852D1B4C02E086E3"><enum>(i)</enum><text>as the
Administrator determines necessary; or</text>
</clause><clause commented="no" id="id74FCFB2E74CF4244B63929AACE053D7D"><enum>(ii)</enum><text>based on a
petition submitted by any person.</text>
</clause></subparagraph><subparagraph commented="no" id="idB8951141054C4755ABF007157FAEE715"><enum>(B)</enum><header>Response</header><text>Not
later than 120 days after receiving any petition under subparagraph (A)(ii),
the Administrator shall respond to the petition.</text>
</subparagraph><subparagraph commented="no" id="idEFDE845B92A84F9581DD653478825EA1"><enum>(C)</enum><header>Requirements</header><text>In
making a determination under this paragraph, the Administrator may decline to
add a material to the list under paragraph (1) if the Administrator determines
that regulation under section 112 of the <act-name>Clean Air Act</act-name> (42
U.S.C. 7412) would not reasonably protect public health with an ample margin of
safety.</text>
</subparagraph></paragraph></subsection></section><section display-inline="no-display-inline" id="H020C92D34AF34538A7C314091C6CF5B5" section-type="subsequent-section"><enum>315.</enum><header>Other
provisions</header>
<subsection id="H88F57DE98F664B54939F8AB94D3D0589"><enum>(a)</enum><header>Establishment of
standards achievable in practice</header><text>In promulgating rules under
section 312(a), the Administrator shall ensure that emissions standards for
existing and new sources established under section 112 or 129 of the
<act-name>Clean Air Act</act-name> (42 U.S.C. 7412, 7429), as applicable, can
be met under actual operating conditions consistently and concurrently with
emission standards for all other air pollutants regulated by the rule for the
source category, taking into account variability in actual source performance,
source design, fuels, inputs, controls, ability to measure the pollutant
emissions, and operating conditions.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HD016931A7DF84C29ADAE7126562DBE74"><enum>(b)</enum><header>Regulatory
alternatives</header><text display-inline="yes-display-inline">For each
regulation promulgated pursuant to section 312(a), from among the range of
regulatory alternatives authorized under the <act-name>Clean Air Act</act-name>
(42 U.S.C. 7401 et seq.) including work practice standards under section 112(h)
of such Act (42 U.S.C. 7412(h)), the Administrator shall impose the least
burdensome, consistent with the purposes of such Act and Executive Order 13563
published at 76 Fed. Reg. 3821 (January 21, 2011).</text>
</subsection></section></subtitle><enum>IV</enum><header>Workforce
development</header>
<subtitle id="id4F184253154A43CB888C4486EA8D5E83"><enum>A</enum><header>Job training
program consolidation</header>
<section id="id6C342C1C796D440B8954F8288F834C26"><enum>401.</enum><header>Short
title</header><text display-inline="no-display-inline">This subtitle may be
cited as the <term>Job Training Program Consolidation Act of
2011</term>.</text>
</section><section id="idC6B360FBE4C144668B7F9CE5E137D469"><enum>402.</enum><header>Definitions</header><text display-inline="no-display-inline">In this subtitle:</text>
<paragraph id="idDD5FAAB9EB324585A28A77AC09CA9CA9"><enum>(1)</enum><header>Job training
program</header><text>The term <term>job training program</term> means any
federally funded employment and training program, including the programs
identified in the January 2011 report of the Government Accountability Office
entitled <quote>Multiple Employee and Training Programs: Providing Information
on Colocating Services and Consolidating Administrative Structures Could
Promote Efficiencies</quote> (GAO–11–92) or the March 2011 report of such
Office entitled <quote>Opportunities to Reduce Potential Duplication in
Government Programs, Save Tax Dollars, and Enhance Revenue</quote>
(GAO–11–318SP).</text>
</paragraph><paragraph id="id84D40CEA6E89470BABF09612D4710CBF"><enum>(2)</enum><header>Director</header><text>The
term <term>Director</term> means the Director of the Office of Management and
Budget.</text>
</paragraph></section><section id="id641A808ECEE84DC4A747A02EE0491787"><enum>403.</enum><header>Study and
proposal on duplicative job training programs</header>
<subsection id="id0E5B9FEEDF724BD0BB5AA4123C6EE7B4"><enum>(a)</enum><header>Study
required</header><text>The Director shall conduct a study on the effectiveness
of current job training programs and on the consolidation of duplicative job
training programs, using funds that are authorized under Federal law other than
this subtitle and available for activities described in this section.</text>
</subsection><subsection id="id4EF09FA0F311412CBF0EB078E07A9722"><enum>(b)</enum><header>Recommendations</header>
<paragraph id="id310EBEA4F660466B84544809FADB07FE"><enum>(1)</enum><header>In
general</header><text>In conducting the study required by subsection (a), the
Director shall prepare recommendations for legislation.</text>
</paragraph><paragraph id="ID452224b874b44057a545d892c37d9391"><enum>(2)</enum><header>Reduction of
programs and costs</header><text display-inline="yes-display-inline">The
recommended legislation shall—</text>
<subparagraph id="idC3C75B28A2C64C0C89BA5092EFF2D710"><enum>(A)</enum><text>reduce the
overall number of job training programs;</text>
</subparagraph><subparagraph id="id4453E9BD75F24AFFA8473FE75C378B17"><enum>(B)</enum><text>reduce Federal
administrative costs of job training programs;</text>
</subparagraph><subparagraph id="id590FB67EC9024F3699EDDFC79F9E7C71"><enum>(C)</enum><text>reduce State and
local administrative costs of job training programs; and</text>
</subparagraph><subparagraph id="idF0BD5C2CD2E445C1BEB4ECD676E13C75"><enum>(D)</enum><text>ensure that job
training programs for veterans are visible and accessible to veterans seeking
employment.</text>
</subparagraph></paragraph><paragraph id="ID4bfccf13b0ee49d7bda0b10cd8272c61"><enum>(3)</enum><header>Consolidation
under single agency</header><text>The recommended legislation shall consolidate
all job training programs into a reduced number of programs that—</text>
<subparagraph id="idA4618D8D4E75457F9D7E27E2D060C90E"><enum>(A)</enum><text>are carried out
by a single agency; and</text>
</subparagraph><subparagraph id="id589FCDC480DE4138B2FC6C9A45D0932F"><enum>(B)</enum><text>emphasize the
provision of job training that develops skills needed by employers in the State
or local area involved.</text>
</subparagraph></paragraph><paragraph id="idBBECB4E460304D4D80ED9543D4D7C735"><enum>(4)</enum><header>Use of
savings</header><text>Under the recommended legislation—</text>
<subparagraph id="id2A3662736F2D4B3288A3883701F780FE"><enum>(A)</enum><text>half of all funds
saved shall be used to increase funds for individual training accounts under
section 134(d)(4)(F) of the Workforce Investment Act of 1998 (29 U.S.C.
2864(d)(4)(F)); and</text>
</subparagraph><subparagraph id="id059F937FF7DF4F8088291146E1FBDE49"><enum>(B)</enum><text>half of all funds
saved shall be deposited in the General Fund of the Treasury for debt reduction
purposes.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID3dcdf39f50c94be6b18bf06956fb6fa1"><enum>(c)</enum><header>Report</header><text>Using
funds described in subsection (a), not later than 180 days after the date of
enactment of this Act, the Director shall prepare and submit to Congress a
report on the results of the study required by subsection (a), including the
recommendations described in subsection (b).</text>
</subsection></section></subtitle><subtitle id="idEFEF3C57EB5947FFA96E3CAF93D928BA"><enum>B</enum><header>Innovation and
Job Creation</header>
<section id="idFF3BBE8C43134336BCA232A42580AFEB" section-type="subsequent-section"><enum>411.</enum><header>Short
title</header><text display-inline="no-display-inline">This subtitle may be
cited as the <quote><short-title>National Innovation and
Job Creation Act of 2011</short-title></quote>.</text>
</section><section id="IDc3946565433b49dda2f4246bf301398e"><enum>412.</enum><header>Definitions</header><text display-inline="no-display-inline">In this subtitle:</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDf28f59f6889f45f39d15a24790faf340"><enum>(1)</enum><header>Board</header><text>The
term <term>Board</term> means the National Innovation Council Board appointed
under section 414.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id20A58A8340D14A4FBB26B6040ECCC384"><enum>(2)</enum><header>CLIC</header><text>The
term <term>CLIC</term> means the CLUSTER Information Center established under
section 416.</text>
</paragraph><paragraph id="ID6d69b2fbc69c442da515f2cb6b46ff27"><enum>(3)</enum><header>CLUSTER
initiative</header><text>The term <term>CLUSTER Initiative</term> means a
formally organized effort to promote cluster growth and competitiveness through
collaborative activities among cluster participants.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idFF96DFEBA85F4CDB9D138A5195143B54"><enum>(4)</enum><header>CLUSTER
program</header><text>The term <term>CLUSTER Program</term> means the
Competitive Leadership for the United States Through its Economic Regions
Program established under this subtitle to create and sustain a series of
initiatives to promote economic growth in industry groups.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id55997B31E3FD4E2CAD724469F7738415"><enum>(5)</enum><header>Council</header><text>The
term <term>Council</term> means the National Innovation Council established
under section 413.</text>
</paragraph><paragraph id="IDc3a1cd9038794667a259f423badad9f8"><enum>(6)</enum><header>Industry
cluster</header><text>The term <term>industry cluster</term> means a geographic
concentration of interconnected businesses, suppliers, service providers, and
associated institutions in a particular field.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idFFFBAAA4299B41B585FF36A4CDEB0C6A"><enum>(7)</enum><header>Industry
research council</header><text>The term <term>Industry Research Council</term>
means an entity that—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id25BD0131046F4FDCB29C80233A631526"><enum>(A)</enum><text>is organized for
the purpose of advancing innovation;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id5018BC1D9905479A9FF35C4260886518"><enum>(B)</enum><text>is comprised of
at least 5 for profit entities; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id34D51DD1F80142E2A80A3664A49FA436"><enum>(C)</enum><text>contributes not
less than the minimum amount established by the Council toward any grant
awarded by the Council.</text>
</subparagraph></paragraph><paragraph id="ID5630d64f79fe43a3a16aeb2d2634bbb2"><enum>(8)</enum><header>Innovation</header><text>The
term <term>innovation</term> means the achievement of meaningful increases in
productivity through the introduction or diffusion of a new or improved
product, service, process, source of supply of materials, business structure,
business practice, business model, or methods of production, delivery,
distribution, financing, marketing, packaging, promoting, or pricing.</text>
</paragraph><paragraph id="id17ADE9D400A04626BFFB883DE6E7CD1B"><enum>(9)</enum><header>Productivity</header><text>The
term <term>productivity</term> means the measure of the quality or quantity of
economic output relative to the input required to produce that output.</text>
</paragraph></section><section id="idEA33863C30E943EE9EBA7FE4030C2BBD"><enum>413.</enum><header>National
Innovation Council</header>
<subsection id="idC507F41F338A421BA5B8756D218709EB"><enum>(a)</enum><header>Establishment</header>
<paragraph id="id8F4C2E10C73143688B97DA54C093A87D"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">There is established,
in the Executive Office of the President, the <quote>National Innovation
Council</quote>, which shall—</text>
<subparagraph id="idD8C8BC11DB7E44849E81431A3F03D440"><enum>(A)</enum><text display-inline="yes-display-inline">coordinate Federal innovation policy;
and</text>
</subparagraph><subparagraph id="id0FBA2C1196DC4B3BA81B0B77094FCF0E"><enum>(B)</enum><text display-inline="yes-display-inline">provide financial assistance for State and
local innovation initiatives.</text>
</subparagraph></paragraph><paragraph id="id6CD3D63E762B448C8168CA8D72819AD1"><enum>(2)</enum><header>Director</header><text>The
Council shall be under the direction of a Director, who shall be appointed by
the President, with the advice and consent of the Senate.</text>
</paragraph><paragraph id="id54E86649A21E47618ACC487F11E50C3E"><enum>(3)</enum><header>Staff</header>
<subparagraph id="idDD60B494ED4940B2AB3C8C8634DE8370"><enum>(A)</enum><header>In
general</header><text>In accordance with such policies as the Council shall
from time to time prescribe, the Director shall appoint and fix the
compensation of such personnel as may be necessary to enable the Council to
perform its duties under this subtitle.</text>
</subparagraph><subparagraph id="id7015B3E6E5B047F2BD3339305FA1F105"><enum>(B)</enum><header>Temporary
staff</header><text>The Director may appoint, for a limited term or on a
temporary basis, such professional or technical staff as the Director
determines to be necessary to carry out specific functions under this subtitle
for which their expertise is required.</text>
</subparagraph></paragraph></subsection><subsection id="IDc76b5a14fa374319a9406d7a7a9d160e"><enum>(b)</enum><header>Powers and
responsibilities</header>
<paragraph id="idC9BA6200C31441A6A43AA9D39521B09E"><enum>(1)</enum><header>Policy
formulation and advocacy</header><text>The Council shall be responsible for
formulating and advocating for the innovation policy of the Federal
Government.</text>
</paragraph><paragraph id="id6D38EF6D5B0F4183808AC06220F4CC3D"><enum>(2)</enum><header>Assistance</header><text>The
Council shall achieve the goal described in paragraph (1) by—</text>
<subparagraph id="id9D10CB2C7A314975B583EC3E6907CA61"><enum>(A)</enum><text>providing
assistance to other Federal agencies with respect to innovation, upon
request;</text>
</subparagraph><subparagraph id="idD2EC47956FFB41E19C0FD32AE9F1C576"><enum>(B)</enum><text>assisting the
Census Bureau, the Bureau of Economic Analysis, the Bureau of Labor Statistics,
other major Federal statistical agencies, and the National Science Foundation
in developing operational measures of innovation that can be included in new or
existing economic data sources, and providing funding to such agencies for such
purpose;</text>
</subparagraph><subparagraph id="id79D13BB470224DB7B8B29E30E1AB0989"><enum>(C)</enum><text>providing Federal
agencies and companies with the information they need to promote innovation and
productivity; and</text>
</subparagraph><subparagraph id="idA9FFB97C168D4A5D9C9B791AC77C1F5C"><enum>(D)</enum><text>assisting
companies with activities such as—</text>
<clause id="idEC3B340A722B45DA825649A09DF7818A"><enum>(i)</enum><text>joint
industry-university research partnerships;</text>
</clause><clause id="id50D13B7FEC0344A9B9FC0F503AC3562C"><enum>(ii)</enum><text>technology
transfer from laboratories to businesses;</text>
</clause><clause id="idAD60930F90DC4A82B6EE0CCD70DC3C9C"><enum>(iii)</enum><text>technology-based
entrepreneurship;</text>
</clause><clause id="idCC33D71BAA6C4536A5DF938688A4BCD2"><enum>(iv)</enum><text>industrial
modernization through adoption of best practice technologies and business
practices; and</text>
</clause><clause id="idD450C5D12E2144AABCABAF1A38F4F80B"><enum>(v)</enum><text>incumbent worker
training.</text>
</clause></subparagraph></paragraph><paragraph id="id22108F82001E4844956A259BBD038789"><enum>(3)</enum><header>Innovation
measurement</header><text>The Council shall create methods of measuring
innovation and productivity.</text>
</paragraph><paragraph id="id3717E3BB6E79458995DEEFC52492AF0C"><enum>(4)</enum><header>Research
program</header><text>The Council shall carry out a program of research on
innovation and productivity.</text>
</paragraph><paragraph id="idE2DD0CDB575C4784A1AC78A85DE9B893"><enum>(5)</enum><header>Advocacy</header><text>The
Council shall recommend specific measures to improve innovation and
productivity in the United States.</text>
</paragraph></subsection><subsection id="ID0ef50618b1104dde86c994173b26991d"><enum>(c)</enum><header>Collaboration</header><text display-inline="yes-display-inline">The Council shall collaborate with, and
provide funding to, the Census Bureau, the Bureau of Economic Analysis, the
Bureau of Labor Statistics, other major Federal statistical agencies, and the
National Science Foundation to develop—</text>
<paragraph id="idF6059CED5D8B49FF9A7C790D9F3978DF"><enum>(1)</enum><text display-inline="yes-display-inline">measures of productivity in the service
sector;</text>
</paragraph><paragraph id="idBA9473D5A02349BD8A3F5C2A7D96CF27"><enum>(2)</enum><text display-inline="yes-display-inline">measures of total factor productivity,
reflecting capital, materials, energy, and purchased services, labor, and other
relevant factors as productive inputs for all industries;</text>
</paragraph><paragraph id="id9DF022604531442B855AF9163C374561"><enum>(3)</enum><text display-inline="yes-display-inline">measures of gross product and productivity
for counties and metropolitan areas; and</text>
</paragraph><paragraph id="id0AA415DE25B74CC5A5421F9A4919E5CF"><enum>(4)</enum><text>measures of
private rates of return from research and development.</text>
</paragraph></subsection><subsection id="IDa39eb2f9341b4892bda764d11fb3213b"><enum>(d)</enum><header>Data collection
and analysis</header><text>The Council shall—</text>
<paragraph id="id70534B5B5AC947C8B9E0841C49C1BE64"><enum>(1)</enum><text>collect and
analyze data necessary to evaluate the impact on productivity resulting from
the Council’s programs; and</text>
</paragraph><paragraph id="id6ABCFC6F46C9474E8891F7A0FEF4FF8E"><enum>(2)</enum><text>require
recipients of funding or other assistance from the Council to provide
information necessary to measure improvements in productivity resulting from
such funding or assistance.</text>
</paragraph></subsection><subsection id="idA3476292F49A4EFC95B9D93500A37248"><enum>(e)</enum><header>Annual
report</header><text>The Council shall annually submit a report (to be known as
the <quote>National Innovation Report</quote>) to Congress, which shall set
forth—</text>
<paragraph id="id6B938A1187204E4791547EE11D5ACE13"><enum>(1)</enum><text>the current and
foreseeable trends in innovation and productivity in the Nation;</text>
</paragraph><paragraph id="id7157F69C7C7D422F83CD84A6A584E50A"><enum>(2)</enum><text>a review and
analysis of recent domestic and international developments affecting innovation
and productivity in the Nation;</text>
</paragraph><paragraph id="idB247A67E735A43F49A025713A06E25E0"><enum>(3)</enum><text>goals for
improved innovation and productivity in the Nation;</text>
</paragraph><paragraph id="id86F45AA3224D4FE0B65C64CD364AC3A0"><enum>(4)</enum><text>a program
designed to improve innovation and productivity in the Nation; and</text>
</paragraph><paragraph id="idF12CAD8A1B4C4AA09180DAD811E1D91C"><enum>(5)</enum><text>such
recommendations for legislation as the President considers desirable.</text>
</paragraph></subsection></section><section id="id9FB80B8CED9D4DE39AFF32668A0DFDCA"><enum>414.</enum><header>National
Innovation Council Board</header>
<subsection id="id6F2E85B3F2AE41CCADE75814215F7AAB"><enum>(a)</enum><header>Establishment</header><text>The
Council shall be under the direction of the National Innovation Council Board,
which shall be comprised of 11 voting members, who shall be appointed by the
President, with the advice and consent of the Senate.</text>
</subsection><subsection id="id327DFE6FAB254F5193062B8719430956"><enum>(b)</enum><header>Appointment
criteria</header>
<paragraph id="id3BCA1DFCE9DE466BA1A2AAB1408A68ED"><enum>(1)</enum><header>Qualifications</header><text>Each
voting member of the Board—</text>
<subparagraph id="idB6493A8DBF314BF29A8E073208BF8F2A"><enum>(A)</enum><text>shall be eminent
in the field of business, economic development, health care, applied sciences,
engineering, education, or public affairs;</text>
</subparagraph><subparagraph id="ID3a580d3269c140afa0a0cdc7b8f4c1fc"><enum>(B)</enum><text>shall have a
record of distinguished service in his or her field; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id3B269699FA65442D8FC55397FC7E7E0E"><enum>(C)</enum><text>shall have
demonstrated knowledge and appreciation of the value of innovation.</text>
</subparagraph></paragraph><paragraph id="idEF9C7931A00A4B8282963C57A105AAE6"><enum>(2)</enum><header>Representation</header><text>In
making appointments under this section, the President shall—</text>
<subparagraph id="id88CA4D6D00ED414C8DA4652E9120FE48"><enum>(A)</enum><text>give due regard
to equitable representation of members who are women or who represent minority
groups;</text>
</subparagraph><subparagraph id="idCAF31501F5114B92A9712E81F960BBE0"><enum>(B)</enum><text>provide
representation of the views of leaders in economic development and innovation
in all areas of the Nation; and</text>
</subparagraph><subparagraph id="idAA23924DA62B49309C25366487452E01"><enum>(C)</enum><text>appoint not fewer
than—</text>
<clause id="ID98fd2ba886dc4b4b941c10c388102197"><enum>(i)</enum><text>1
representative with a background in manufacturing;</text>
</clause><clause id="IDcfc8dddd09e04b1a9433d2468ab4a379"><enum>(ii)</enum><text>1
representative with a background in the service industry;</text>
</clause><clause id="IDf33f27a9d5b1405c9f7804a902ebd80a"><enum>(iii)</enum><text>1
representative of higher education;</text>
</clause><clause id="IDd9236d8735864d22b67088d047c09c39"><enum>(iv)</enum><text>1
representative of State and local government;</text>
</clause><clause id="ID6e85a0f7e84a4bd09b646d54d0ca52f3"><enum>(v)</enum><text>1
representative of organized labor;</text>
</clause><clause id="ID8181b4a12f9e46aa9a52c7b8d3225c1a"><enum>(vi)</enum><text>1
representative of the nonprofit sector;</text>
</clause><clause id="ID9cf12a98556d4aa788ea17ce8ed8f585"><enum>(vii)</enum><text>1
representative of economic development organizations;</text>
</clause><clause id="IDa6705783093344aa8e614b15cb7d0290"><enum>(viii)</enum><text>1
representative of professional associations; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDff80f46641d5472dbbf7dbf52b199f8e"><enum>(ix)</enum><text>1 recognized
expert in innovation.</text>
</clause></subparagraph></paragraph><paragraph id="ID82a8d4ddbdf74152a914b3fabf06ed32"><enum>(3)</enum><header>Terms</header><text>Voting
members of the Board shall be appointed to 4-year terms.</text>
</paragraph><paragraph id="ID319d2a4d85294de0855be7201396f074"><enum>(4)</enum><header>Ex officio
members</header><text>The Secretary of Commerce and the Secretary of Labor
shall serve as ex officio members of the Board.</text>
</paragraph></subsection></section><section id="ID1ff03dcb84af4481bd5fc7e8700c6cbe"><enum>415.</enum><header>Transfer of
programs and functions</header><text display-inline="no-display-inline">There
shall be transferred to the Council the functions, personnel, assets, and
liabilities of—</text>
<paragraph id="ID3272d717ad214314a766395139661931"><enum>(1)</enum><text>the Manufacturing
Extension Partnership Program of the National Institute of Standards and
Technology;</text>
</paragraph><paragraph id="IDbd2913e7b6964140a9ea391f05bc9868"><enum>(2)</enum><text>the Technology
Innovation Program of the National Institute of Standards and
Technology;</text>
</paragraph><paragraph id="ID1cebd68d4040434ea37e167ff55f06e1"><enum>(3)</enum><text>the Office of
Technology Partnerships of the National Institute of Standards and
Technology;</text>
</paragraph><paragraph id="ID0f8cd8f563784dc4bc489f1b0261f481"><enum>(4)</enum><text>the Partnerships
for Innovation of the National Science Foundation;</text>
</paragraph><paragraph id="ID94b6375f72b04f11bb8171bf9816d0f2"><enum>(5)</enum><text>the
Industry-University Cooperative Research Center Program of the National Science
Foundation;</text>
</paragraph><paragraph id="ID563d73f7818e4bc499aff9741122c7a4"><enum>(6)</enum><text>the Engineering
Research Center Program of the National Science Foundation; and</text>
</paragraph><paragraph id="IDb3c3dbf26b6447af9ecedeec4da203ff"><enum>(7)</enum><text>the Workforce
Innovation in Regional Economic Development of the Department of Labor.</text>
</paragraph></section><section id="ID35dfb71eed42434f886099d3b28deecf"><enum>416.</enum><header>Cluster
Information Center</header>
<subsection id="ID10863bf354ae4ff4ab392f3448a9f91a"><enum>(a)</enum><header>Establishment</header><text display-inline="yes-display-inline">There is established within the Council the
CLUSTER Information Center.</text>
</subsection><subsection id="IDf2fc0a6b9dd0403c8f58ff1e3fc234b0"><enum>(b)</enum><header>Purposes</header><text>The
purpose of the CLIC is to promote the collection, development, and
dissemination of data and analysis on industry clusters throughout the United
States.</text>
</subsection><subsection id="ID9a1a4bf65fcc42a782c42faa36cee31e"><enum>(c)</enum><header>Databases</header><text>The
Director of the Council shall compile databases for the CLIC from existing
Federal data sets available from—</text>
<paragraph id="id64D583B1310E492A9A2F58F8589D0392"><enum>(1)</enum><text>the Census
Bureau;</text>
</paragraph><paragraph id="idA1AD629B50BF4A789A4EB6A31276AD2E"><enum>(2)</enum><text>the Bureau of
Economic Analysis;</text>
</paragraph><paragraph id="id0A69BCDF97A844D79AE5FFB9D27CE7AD"><enum>(3)</enum><text>the Bureau of
Labor Statistics;</text>
</paragraph><paragraph id="id5617A4442ADD43C983057BAAC1905C6F"><enum>(4)</enum><text>the International
Trade Administration;</text>
</paragraph><paragraph id="id6405E223CA904E119CCA5F6EED1556EE"><enum>(5)</enum><text>the Statistics of
Income Program of the Internal Revenue Service;</text>
</paragraph><paragraph id="idE98F8A8B405E4CA8821C040C2A88EAC1"><enum>(6)</enum><text>the Office of
Patent Resource Administration in the United States Patent and Trademark
Office;</text>
</paragraph><paragraph id="id6B514DE1538C4489B6F8DD12884DD83A"><enum>(7)</enum><text>the National
Science Foundation;</text>
</paragraph><paragraph id="idAC0CB4D99E8A44FCA7E4C0B528218D51"><enum>(8)</enum><text>the National
Innovation Council;</text>
</paragraph><paragraph id="id30AC1C2A82A74E37A22F4B2825195B21"><enum>(9)</enum><text>other Federal
agencies; and</text>
</paragraph><paragraph id="id643D338F58084FA8A64342E5832E22BE"><enum>(10)</enum><text>non-Federal
sources, including private databases, as appropriate.</text>
</paragraph></subsection><subsection id="IDf606560662b6452d8e5166a53d8cb784"><enum>(d)</enum><header>Functions</header>
<paragraph id="ID7ffcc720b4f3489ba213158f0b30c5ad"><enum>(1)</enum><header>In
general</header><text>The CLIC shall—</text>
<subparagraph id="IDb7916cf07517477ea9ebffdace5ded4d"><enum>(A)</enum><text>support and
disseminate research on the formation and evolution of industry clusters,
CLUSTER Initiatives, and CLUSTER Programs;</text>
</subparagraph><subparagraph id="ID3bfc374b45d0467892d44ebe867e3b6e"><enum>(B)</enum><text>gather, analyze,
and disseminate information on the best practices for the development of
industry clusters, CLUSTER Initiatives, and CLUSTER Programs in the United
States and in other countries, specifically determining how productivity,
innovation, and competitive advantage can be maximized through industry
clusters, CLUSTER Initiatives, and CLUSTER Programs;</text>
</subparagraph><subparagraph id="ID7a2c54ff98c845c8b27b0743f13e948d"><enum>(C)</enum><text>develop technical
assistance guides for regional cluster analysis and CLUSTER Initiative and
initiative program development and operations; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID9c4393ba3a1842929414f1f927bcedc7"><enum>(D)</enum><text>bring together
representatives of industry clusters, CLUSTER Initiatives, and CLUSTER
Programs, experts, and scholars to disseminate developments in cluster
analysis, initiatives, and programs.</text>
</subparagraph></paragraph><paragraph id="idDF8EC4CE1EE44CE79514005500560DE6"><enum>(2)</enum><header>Data
collection</header><text>The CLIC shall collect and make available data on
cluster activity showing—</text>
<subparagraph id="IDa81c41f4e1184b50a4a20b610f234721"><enum>(A)</enum><text>breadth, a
geographically-specific picture of the array of clusters in each key industry
throughout the United States, with data on size, specialization, and
competitiveness of the industry clusters in each State, region, and major
metropolitan area;</text>
</subparagraph><subparagraph id="ID89e09b4870274d3dbdc923c6227c86a3"><enum>(B)</enum><text>depth, for each
cluster, detailed data such as regional domestic product contribution, total
jobs and earnings by key occupations, establishment size, nature of
specialization, patents, Federal research and development spending, citation
patterns, and trade; and</text>
</subparagraph><subparagraph id="IDe325efe727514ca5aefefd464ee706c7"><enum>(C)</enum><text>flow, estimates
of supply chain product and service flows within and between industry
clusters.</text>
</subparagraph></paragraph><paragraph id="IDb82fcb05c27f45f0ad3f8aaf7b6a2e3e"><enum>(3)</enum><header>Report</header><text>The
CLIC shall—</text>
<subparagraph id="id99C30EBC41B84C08A00B530DA62AFE6D"><enum>(A)</enum><text>monitor the
extent to which the data available to it is sufficient for proper analysis of
cluster activity; and</text>
</subparagraph><subparagraph id="id204B22DD679947A9A622EA8306A7126D"><enum>(B)</enum><text>submit a report
to Congress that includes recommendations regarding further authorization for
data collection, as necessary.</text>
</subparagraph></paragraph><paragraph id="ID23e6cda67b554962b50f21fed0e43c3d"><enum>(4)</enum><header>Limitation</header><text>The
CLIC may not collect or analyze data which would otherwise be in violation of
Federal privacy laws.</text>
</paragraph><paragraph id="ID364425a4372d4dafb716fe9dcc120dea"><enum>(5)</enum><header>Dissemination
of analyses</header><text>Data and analysis compiled by the CLIC shall be made
available to other Federal agencies, State and local governments, and nonprofit
and for-profit entities, to guide investments in industry cluster activities
that will lead to increased productivity, innovation, and competitive
advantage, including—</text>
<subparagraph id="IDa2ac6e6b21c04cf1b7431017b09292cd"><enum>(A)</enum><text>cluster
development;</text>
</subparagraph><subparagraph id="IDadb20c0ab9c147da8afe62e141f9a228"><enum>(B)</enum><text>economic
development;</text>
</subparagraph><subparagraph id="ID130d62927a8a4349b5987b68d3f5e544"><enum>(C)</enum><text>workforce
development;</text>
</subparagraph><subparagraph id="ID8e8ca470bb18485a9fc59ac6942745e0"><enum>(D)</enum><text>research and
development;</text>
</subparagraph><subparagraph id="ID48a0b2b203ae4df2b10979f58e1d421e"><enum>(E)</enum><text>business site
locations;</text>
</subparagraph><subparagraph id="IDe56419e208b643d8a52e2cdf85b29cc0"><enum>(F)</enum><text>analysis of
United States competitiveness, by industry, industry cluster, and geography;
and</text>
</subparagraph><subparagraph id="ID93b1d2a663fc42b7be6ee4528f0a4cfd"><enum>(G)</enum><text>other appropriate
activities.</text>
</subparagraph></paragraph></subsection><subsection id="ID1aaad73d86d441e78fb4aa6304169e94"><enum>(e)</enum><header>Cluster
Initiative and Cluster Program Registry</header>
<paragraph id="id778E8340C5BA49B8A610FED9CB510E7E"><enum>(1)</enum><header>In
general</header><text>The CLIC shall maintain a publicly available registry of
CLUSTER Initiatives and CLUSTER Programs that contain information that is
useful to the study and analysis of CLUSTER Initiatives and CLUSTER Programs,
including—</text>
<subparagraph id="id6ED41DE7D8D643F8AEFCB47DAEB424AE"><enum>(A)</enum><text>organizational
structure;</text>
</subparagraph><subparagraph id="idBCB2B35E83CB48A098C2172E07C848BF"><enum>(B)</enum><text>membership;</text>
</subparagraph><subparagraph id="idD5AF71E74C184D2C9E08ACDB8828E468"><enum>(C)</enum><text>activities;</text>
</subparagraph><subparagraph id="id2F1D1E4903A44A5DB3C2EAB3637FFA45"><enum>(D)</enum><text>funding;
and</text>
</subparagraph><subparagraph id="id0C0599722B344225A4DB0F25990C3DE7"><enum>(E)</enum><text>perceived impacts
of registered CLUSTER Initiatives and CLUSTER Programs.</text>
</subparagraph></paragraph><paragraph id="ID9e9700f3af3f423baf2bb60fcdf917ff"><enum>(2)</enum><header>Information
collected</header><text>At the time a CLUSTER Initiative is registered, the
CLIC shall collect sufficient information to demonstrate that the CLUSTER
Initiative—</text>
<subparagraph id="ID9856af26c2c84028b83c32997156c343"><enum>(A)</enum><text>is an
industry-led effort with not fewer than 5 member firms and 1 lead organizing
entity;</text>
</subparagraph><subparagraph id="ID0854d56eab8849008f6e1b8a6b3c512c"><enum>(B)</enum><text>involves not
fewer than 3 cluster support organizations, such workforce boards, community
colleges, universities, and industry associations; and</text>
</subparagraph><subparagraph id="ID925b17a43e4a467ea84320567a0ded0d"><enum>(C)</enum><text>has a strategy to
enhance the competitive position of the cluster.</text>
</subparagraph></paragraph><paragraph id="IDd638d1a3505c4c7eade5b84ffd172ab1"><enum>(3)</enum><header>Priority
funding</header><text>Registered CLUSTER Initiatives and CLUSTER Programs shall
receive priority for funding from the Council and the CLIC.</text>
</paragraph><paragraph id="ID2a0415f83d3f40a4ba98a805ccade5c7"><enum>(4)</enum><header>Use of
information</header><text>Information contained in the CLUSTER Initiative and
CLUSTER Program Registry shall be made available to other Federal agencies,
State and local governments, and nonprofit and for-profit entities.</text>
</paragraph></subsection><subsection id="IDa1b802a2b5fa46d9824ae3392104808a"><enum>(f)</enum><header>Outside
contracts</header><text>The Director of the Council may contract out the
operation of the CLIC to an external organization such as another Federal
agency, a university, a nonprofit research entity, or a private company.</text>
</subsection><subsection id="ID81b38cf3e7be4695af7a6e4957d960ef"><enum>(g)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated
$20,000,000 to carry out this section.</text>
</subsection></section><section id="IDc2eaa297b8494f1db11be3171c339348"><enum>417.</enum><header>Grant
programs</header>
<subsection id="ID3ef82fb4da2c49b59788c37d4cbcdbbd"><enum>(a)</enum><header>CLUSTER grant
program</header>
<paragraph id="ID3e4507a9ffe14eb7af51372dbc86ed39"><enum>(1)</enum><header>Authorization</header><text>The
Council shall award grants to eligible grantees to operate a CLUSTER Grant
Program for the purpose of awarding grants to CLUSTER Initiatives in accordance
with the requirements under this subsection.</text>
</paragraph><paragraph id="ID7a04ff311e8d4c9da1e8faddb6b6cc11"><enum>(2)</enum><header>Eligible
grantees</header><text>A grant may be awarded under this subsection to—</text>
<subparagraph id="ID026aac21dff2456ea8d97cb11a8357f7"><enum>(A)</enum><text>a State;
or</text>
</subparagraph><subparagraph id="idCD574B2081B54DA0B6BD5289B1EFD65D"><enum>(B)</enum><text>an entity
designated by a State or a group of States, which may be a city, a county,
another political subdivision of a State, a nonprofit organization, or any
other economic development organization.</text>
</subparagraph></paragraph><paragraph id="IDe0032e3b84534e359868e0ff9f8c7afe"><enum>(3)</enum><header>Use of grant
funds</header><text>All entities receiving grant funds under this subsection
shall ensure that CLUSTER Initiatives supported by such funds—</text>
<subparagraph id="ID3c9b42c11b694207bead7710a928085d"><enum>(A)</enum><text>are operated in a
manner consistent with the <quote>best practices</quote> established by the
CLUSTER Program;</text>
</subparagraph><subparagraph id="IDf522629f0906412aaa52317079778ebd"><enum>(B)</enum><text>are
industry-led;</text>
</subparagraph><subparagraph id="ID8df9049b2fd24afabd275ba123c3bdb8"><enum>(C)</enum><text>are inclusive,
seeking any and all organizations that might find benefit from participation,
including startups, firms not locally owned, and firms rival to existing
members;</text>
</subparagraph><subparagraph id="ID6a51d595ae7c4aae9dfed5adb3d59361"><enum>(D)</enum><text>encourage broad
participation by and collaboration among all types of participants;</text>
</subparagraph><subparagraph id="ID3606bb84faf44fc3a2eada9edf9e8669"><enum>(E)</enum><text>involve key State
and local government actors; and</text>
</subparagraph><subparagraph id="ID0b3facd054414640a39495eec51c75a0"><enum>(F)</enum><text>participate in
the CLIC registry and research activities described in section 416(e).</text>
</subparagraph></paragraph><paragraph id="IDb7d2f96b95e44f50a7501beb2ed2c20c"><enum>(4)</enum><header>Grant
types</header>
<subparagraph id="IDf9200cc970134ae0b1b223b811d1e36d"><enum>(A)</enum><header>Feasibility
study grants</header>
<clause id="id9B437C8CA35D4256BE8502AB189D9BE7"><enum>(i)</enum><header>In
general</header><text>A grant in an amount not to exceed $250,000 shall be
awarded to eligible grantees for Cluster Program feasibility studies, planning,
and operations.</text>
</clause><clause id="id0521B8FA62084EA597EB7754D1F47F0F"><enum>(ii)</enum><header>Conditions</header><text>A
feasibility study grant shall be awarded to not fewer than 1 eligible grantee
in each State on a 1-time basis, with no matching funds required.</text>
</clause></subparagraph><subparagraph id="IDf6c5536bce0e4848b3a967172386654c"><enum>(B)</enum><header>Start up and
annual grants</header>
<clause id="idBDE1F39692D645DCB65320CBAFDB2482"><enum>(i)</enum><header>Start up
grant</header><text>A 1-year grant in an amount not to exceed $1,000,000 shall
be awarded to not fewer than 1 new cluster program in each State to support
planning studies, provide technical assistance, and fund start-up
activities.</text>
</clause><clause id="id855F48B3F9204772B7A7FC0A713D9817"><enum>(ii)</enum><header>Annual
grant</header><text>An annual grant shall be awarded to not fewer than 1
early-stage cluster programs in each State to provide technical assistance and
fund operating activities.</text>
</clause><clause id="idDBC6F3C4B58C46758AC8BC4AB89F1B9A"><enum>(iii)</enum><header>Renewal</header><text>Grants
awarded under clause (ii) may be renewed for a total period not to exceed 5
years (including any start up grant).</text>
</clause><clause id="id38AB45DBD71C4AF8AE7B89D50AC2F023"><enum>(iv)</enum><header>Matching funds
requirement</header>
<subclause id="id778DB5D0E25E448DB29003B70308FC03"><enum>(I)</enum><header>Initial
period</header><text>During the first 2 years in which an eligible entity
receives grant funding under this subparagraph, the eligible entity shall
provide matching funds in an amount equal to the amount of funds received under
this subparagraph.</text>
</subclause><subclause id="IDdd8ee45de1f24ff7823ee4038c018676"><enum>(II)</enum><header>Subsequent
period</header><text>If the Council determines, in accordance with criteria
established by the CLUSTER Program, that an eligible grantee has demonstrated
greater effectiveness than other grant recipients during the period described
in subclause (I), the non-Federal matching requirement for such eligible
grantee in future years may be reduced.</text>
</subclause></clause></subparagraph><subparagraph id="IDb54be6d3fadf464f877d3c320a1353a2"><enum>(C)</enum><header>Matching grants
for cluster initiatives</header>
<clause id="idAF4AF67B713F4251B148A2E70DA0A612"><enum>(i)</enum><header>In
general</header><text>A grant of between $1,000,000 and $15,000,000 may be
awarded, on a competitive basis, to CLUSTER Programs for the purpose of
supporting CLUSTER Initiatives.</text>
</clause><clause id="id1FE7475BC62142AEA6D802774DA39E2C"><enum>(ii)</enum><header>Matching
requirement</header><text>An eligible entity receiving a grant under this
subparagraph shall provide matching funds in an amount equal to the amount of
grant funds received under this subparagraph.</text>
</clause><clause id="idA8AD8816CC9C4C91B6DD13CAB902CF5E"><enum>(iii)</enum><header>Selection
criteria</header><text>In selecting grant recipients under this subparagraph,
the Council shall consider—</text>
<subclause id="IDc8f123753dce4ee9b5f0bba22c780ad3"><enum>(I)</enum><text>the probable
impact of the proposed effort on the competitiveness of the area’s traded
sector;</text>
</subclause><subclause id="ID6aa7203366354e47b0966d9591e69200"><enum>(II)</enum><text>if the proposed
effort fits within a broader achievable economic development strategy;</text>
</subclause><subclause id="ID78f46e0c0ba8469595eb9d58562eea42"><enum>(III)</enum><text>the capacity
and commitment of the sponsoring organization;</text>
</subclause><subclause id="IDb85ea066049c4b7a95577b6fdd027098"><enum>(IV)</enum><text>the degree of
support and involvement from relevant State and regional economic and workforce
development organizations, other public purpose institutions (such as
universities, community colleges, workforce boards), and the private sector,
including industry associations;</text>
</subclause><subclause id="IDe73f4804bb3043b58df830ef76261f10"><enum>(V)</enum><text>the eligible
grantee's expected ability to access additional funds from Federal, State, and
local sources;</text>
</subclause><subclause id="ID7185cdf7bafd4c0086ec197bafb441f8"><enum>(VI)</enum><text>the eligible
grantee's capacity to sustain activities once grant funds have been expended;
and</text>
</subclause><subclause id="ID5876dc8834dd4655a2db51a10eaaea65"><enum>(VII)</enum><text>the extent to
which economic diversity across regions of the United States would be increased
through the grant.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="ID86fe494ef90a4a46a90bbaf9876b3a37"><enum>(5)</enum><header>Application
process</header><text>The application process for grants awarded under this
subsection shall be on a rolling basis.</text>
</paragraph><paragraph id="IDe8c8aaae09694c28aa31e38fc2710bad"><enum>(6)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated
$350,000,000 for fiscal year 2012 and each subsequent fiscal year to carry out
this subsection.</text>
</paragraph></subsection><subsection id="IDad8ea81be0024c24802e1bddd4a92891"><enum>(b)</enum><header>National sector
research grants</header>
<paragraph id="idD22BCD67770647C39CFD91C220A1E650"><enum>(1)</enum><header>Grants
authorized</header><text>The Council shall award competitive grants to eligible
companies and joint ventures to encourage innovation through research
partnerships between academic institutions in the United States and industry
research alliances.</text>
</paragraph><paragraph id="id247F21C5C5554A2FBA5E924C4E5E4780"><enum>(2)</enum><header>Eligibility</header><text>Each
company and joint venture desiring a grant under this subsection shall—</text>
<subparagraph id="idB22DB5594B3E4E80951006BD1B28989B"><enum>(A)</enum><text>submit an
application to the Council containing such information as the Council may
reasonably require;</text>
</subparagraph><subparagraph id="idA7DDBAB6E7EF4C348DF6FF463A9B2B0E"><enum>(B)</enum><text>form an
industry-led research consortium consisting of at least 5 companies; and</text>
</subparagraph><subparagraph id="ID01f2357002d44be884dd552897faada1"><enum>(C)</enum><text>agree to develop
a 3- to 10-year technology roadmap that charts out generic science and
technology needs that the companies share.</text>
</subparagraph></paragraph><paragraph id="ID98bd0057184d4d81a2ad4a04e037e200"><enum>(3)</enum><header>Federal cost
share</header><text>The Federal share of a project funded by a grant under this
subsection shall be not more than 50 percent of the total project costs.</text>
</paragraph></subsection><subsection id="IDcd4f7cb8d7fe47fa9c47fadea3433ac5"><enum>(c)</enum><header>Productivity
enhancement research grants</header><text>The Council shall award grants to
academic institutions in the United States and to joint ventures comprised of
academic institutions and private companies to support early-stage research
into methods of increasing productivity and innovation, with broad application
for a range of industries, including—</text>
<paragraph id="idB559BC8756ED40BE817DD8233DDD6B56"><enum>(1)</enum><text>automated
manufacturing or service processes;</text>
</paragraph><paragraph id="id38E8AEEFD8B74FD4BF7730BFD5D4D186"><enum>(2)</enum><text>technology-enabled
remote service delivery;</text>
</paragraph><paragraph id="id144E1B6874F3469FAE280AA53CB66342"><enum>(3)</enum><text>quality
improvement; and</text>
</paragraph><paragraph id="id38B608FE4F4443D2BB9E3A8315CA94D8"><enum>(4)</enum><text>other methods of
improving productivity and innovation.</text>
</paragraph></subsection><subsection id="IDa993e9ea8ce24134972b910bf3641ea0"><enum>(d)</enum><header>State
innovation-Based economic development partnership grants</header>
<paragraph id="id59F5FF4E9510404596CA44E90A231D5D"><enum>(1)</enum><header>Grants
authorized</header><text>The Council shall award innovation-based economic
development partnership grants to State economic development entities
designated by each State.</text>
</paragraph><paragraph id="idCDD634B32A9A47C5ACC7A6FE77A15398"><enum>(2)</enum><header>Grant
types</header>
<subparagraph id="id646909848A0B45BF8F5D9E7132B5E3A1"><enum>(A)</enum><header>Feasibility
study grants</header>
<clause id="id7CEAB758F4BE49B8A5E8F0A55CB297E2"><enum>(i)</enum><header>In
general</header><text>A grant of up to $250,000 shall be awarded to States for
feasibility studies, planning, and operations.</text>
</clause><clause id="id0AA9A468B3B7404289F0DE252307A766"><enum>(ii)</enum><header>Conditions</header><text>A
feasibility study grant shall be awarded to not fewer than 1 eligible grantee
in each State on a 1-time basis, with no matching funds required.</text>
</clause></subparagraph><subparagraph id="id7E859579C30E484F9F8579A7B85E2F98"><enum>(B)</enum><header>Start-up and
annual grants</header>
<clause id="id93F8455B49E341F5A9A13606070AFEAB"><enum>(i)</enum><header>Start up
grant</header><text>A 1-year grant in an amount not to exceed $2,000,000 shall
be awarded to States to support planning studies, provide technical assistance,
and fund start-up activities.</text>
</clause><clause id="idCF3C064F2FF84844A11C628D7B2E41A8"><enum>(ii)</enum><header>Annual
grants</header><text>In addition to the grants authorized under clause (i),
annual grants shall be awarded to States to provide technical assistance and
fund operating activities. Grants awarded under this clause may be renewed
indefinitely.</text>
</clause><clause id="idD52481619B944D07BFC973DE1F626CAF"><enum>(iii)</enum><header>Minimum
grants</header><text>Each State shall be awarded not fewer than 1 grant under
this subparagraph.</text>
</clause><clause id="id918B50FB133E42C180E2A8E501C5BE3D"><enum>(iv)</enum><header>Matching funds
requirement</header><text>A State receiving a start-up grant under this
subparagraph shall provide—</text>
<subclause id="id08F486D8A5344A2299320F36F5F5D20E"><enum>(I)</enum><text>for the first
$1,000,000 in grant funds, a match of $1 for every $2 received in grant funds;
and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="id560277328661427382AA32903F578A14"><enum>(II)</enum><text>for any
additional amount in grant funds, a match of $2 for every $1 received in grant
funds.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="id102048F3FCA0452C829495285EECCF58"><enum>(3)</enum><header>IBED
plans</header>
<subparagraph id="id57D3D80B70704DDBB47FD34D62B7B51E"><enum>(A)</enum><header>Initial
plans</header><text>Each State desiring a grant under this subsection shall
submit to the Council an initial innovation-based economic development plan
(referred to in this paragraph as an <quote>IBED Plan</quote>), which
describes—</text>
<clause id="id50BA26F1E9684FEAB177AFD411895F38"><enum>(i)</enum><text>how
grant funds would be used to support the creation of alliances for the
dissemination of innovation among local governments, businesses, educational
institutions, and other institutions;</text>
</clause><clause id="id6C3746289B16461A880B6A552671FDEE"><enum>(ii)</enum><text>how companies
within the State would benefit from the activities funded through a grant under
this subsection; and</text>
</clause><clause id="id3D907F66A2F84B6DBD7A6CC408E748A8"><enum>(iii)</enum><text>how innovation
would be disseminated through the activities described in paragraph (4) to
companies within the State.</text>
</clause></subparagraph><subparagraph id="idAB3E97691B374FB991DC966B45D0E6EE"><enum>(B)</enum><header>Review</header><text>The
Council and an outside panel of experts shall—</text>
<clause id="idC85C20DD65DD43358CFD1F517D32F61F"><enum>(i)</enum><text>review the
initial IBED Plans submitted under subparagraph (A); and</text>
</clause><clause id="idBF1648005D8D45C88210B5A44D9E3FE8"><enum>(ii)</enum><text>notify the
States of any suggested modifications to such plans.</text>
</clause></subparagraph><subparagraph id="idAC8EF740FDE54C9D933B0E2C1EDC4A90"><enum>(C)</enum><header>Resubmission of
plans</header><text>States may submit modified IBED Plans to the
Council.</text>
</subparagraph><subparagraph id="id58DBB49562FC415A9B9EDFAFFD69B2B9"><enum>(D)</enum><header>Use of
plans</header><text>The Council shall score IBED Plans submitted under this
paragraph and award competitive grants to States under this subsection, to the
extent available, on the basis of such scores. In scoring plans under this
subparagraph, the Council shall award additional points for multi-State and
regional innovation-based economic development efforts.</text>
</subparagraph></paragraph><paragraph id="id69E39DCDF8434861AD95C6190AEE18A8"><enum>(4)</enum><header>Use of
funds</header><text>Grant funds received under this subsection may be used to
establish—</text>
<subparagraph id="id5DE6B02B2196436392F19ACE73A05BC6"><enum>(A)</enum><text>technology
commercialization centers;</text>
</subparagraph><subparagraph id="idECB92811CF0443FAB23D4979E070D375"><enum>(B)</enum><text>industry-university
research centers;</text>
</subparagraph><subparagraph id="id4A7514D73E564ECF8D9C2707C57C0969"><enum>(C)</enum><text>regional cluster
development programs;</text>
</subparagraph><subparagraph id="id0C9431892B81490B86DF21BB50C671E8"><enum>(D)</enum><text>regional skills
alliances;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idA913071E5C654A1FB2EABDF90585008C"><enum>(E)</enum><text>entrepreneurial
support programs;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id59EF706B35A64ABAADEB28724FE043C0"><enum>(F)</enum><text>science parks;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idC4A388CD73D448D89427842D0E6DA125"><enum>(G)</enum><text>related
activities to spur innovation or productivity.</text>
</subparagraph></paragraph><paragraph id="idA748694678644C16B70B3924FDACA1FE"><enum>(5)</enum><header>Federal cost
share</header><text>The Federal share of a project funded by a grant under this
subsection shall be not more than <fraction>1/3</fraction> of the total project
costs.</text>
</paragraph><paragraph id="idC83A279C191444A3919534AEBDE71A7B"><enum>(6)</enum><header>Noncompetitive
grants</header><text>The Council shall award noncompetitive planning and
technical assistance grants to States that do not receive a competitive grant
under this subsection, which shall be used to improve the quality of the
States’ proposals for subsequent grants under this section.</text>
</paragraph></subsection><subsection id="ID416e4078c89e4fd791b42c7132e68db2"><enum>(e)</enum><header>Technology
diffusion grants</header>
<paragraph id="id0F4AB10306114100B34A7B7B469A855A"><enum>(1)</enum><header>Grants
authorized</header><text>The Council shall award grants to manufacturing
extension partnership centers in each State to promote the diffusion of
existing technological innovations to companies in which such innovations are
underutilized. Notwithstanding any other provision of law, a manufacturing
extension partnership may use grant funds awarded under this subsection for
activities in the service sector that comply with the requirements under this
subsection.</text>
</paragraph><paragraph id="idC91303FE42244B259E795056D791F128"><enum>(2)</enum><header>Grant
types</header>
<subparagraph id="idA4E5CD36AE6140A4989B588ACB6C820E"><enum>(A)</enum><header>Feasibility
study grants</header>
<clause id="id7A7755643FB34A3898A5484C0AD8B2DD"><enum>(i)</enum><header>In
general</header><text>A grant of up to $250,000 shall be awarded to
manufacturing extension partnership centers for feasibility studies, planning,
and operations.</text>
</clause><clause id="idE58106D2769C4A65851D9ED63E45DD45"><enum>(ii)</enum><header>Conditions</header><text>A
feasibility study grant shall be awarded to not fewer than 1 eligible grantee
in each State on a 1-time basis, with no matching funds required.</text>
</clause></subparagraph><subparagraph id="id76638A3BF087405DB46607F2210731D7"><enum>(B)</enum><header>Start up and
annual grants</header>
<clause id="id599F2F9950DD4D7EB845D57C140A6C38"><enum>(i)</enum><header>Start up
grant</header><text>A 1-year grant of up to $2,000,000 shall be awarded to a
manufacturing extension partnership center in each State to support planning
studies, provide technical assistance, and fund start-up activities.</text>
</clause><clause id="id002E18BE8625484D8AE940EBD242228F"><enum>(ii)</enum><header>Annual
grants</header><text>In addition to the grants authorized under clause (i),
annual grants shall be awarded to manufacturing extension partnership centers
in each State provide technical assistance and fund operating activities.
Grants awarded under this clause may be renewed indefinitely.</text>
</clause><clause id="idC4CBFBF34F8349A1A9476C8C418AD324"><enum>(iii)</enum><header>Matching
funds requirement</header><text>A manufacturing extension partnership center
receiving a grant under this subparagraph shall provide—</text>
<subclause id="idA89B86B6FEF64C9BA94AE3A4B6B62C0F"><enum>(I)</enum><text>for the first
$1,000,000 in grant funds, a match of $1 for every $2 received in grant funds;
and</text>
</subclause><subclause id="idA78885DA334443BAA8BBD7AB61358AB2"><enum>(II)</enum><text>for any
additional amount in grant funds, a match of $2 for every $1 received in grant
funds.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="id7F993728DF074178A69CCEB44F4C30E6"><enum>(3)</enum><header>Use of
funds</header><text>Grants funds received under this subsection may be
used—</text>
<subparagraph id="idCF327C9CE4D54482BF027613637F2DE3"><enum>(A)</enum><text>to establish
manufacturing extension partnership centers in each State to provide—</text>
<clause id="id7FEFAC5489FB4C5D8554A8BE664FC05B"><enum>(i)</enum><text>support for
manufacturing and services; and</text>
</clause><clause id="id9017A57B6EEB4EA7863BC11A19868CDD"><enum>(ii)</enum><text>innovation
awards; and</text>
</clause></subparagraph><subparagraph id="id016ED4253FBB40EABA70C73C6F00A11C"><enum>(B)</enum><text>to support the
diffusion of innovation in any sector of the economy, including the service
sector.</text>
</subparagraph></paragraph><paragraph id="idE8E9D053B8004ECDBB1B0C3B594C5465"><enum>(4)</enum><header>Evaluation
process</header><text>In evaluating proposals for grants under this subsection,
the Council shall—</text>
<subparagraph id="idBCD2957B473F4FBF9EFB777B7A7458C0"><enum>(A)</enum><text>determine the
degree to which measurable productivity gains are expected to be achieved
through each applicant’s proposed diffusion of innovation;</text>
</subparagraph><subparagraph id="idEA38A8FBFE3A447D873D66E78561FD6F"><enum>(B)</enum><text>follow the 2-step
process established under subsection (d)(3) for grants to carry out the
activities described in paragraph (3)(A); and</text>
</subparagraph><subparagraph id="idE6050E4F1870453396CAF1A58F6B1218"><enum>(C)</enum><text>require
manufacturing extension partnership centers to submit a plan to carry out the
activities described in paragraph (3)(B).</text>
</subparagraph></paragraph></subsection><subsection id="ID527bb69e66e7425ab5c133bb3f43cd4f"><enum>(f)</enum><header>Use of
grants</header><text>Grant funds received under this section shall be used
to—</text>
<paragraph id="id9BC01344C1BF4B1AB967756B0BF82982"><enum>(1)</enum><text>perform
Council-supported grant work in the United States; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idBE0129334B804E5C84B34DF2E002AE1C"><enum>(2)</enum><text>promote the
production of any resulting goods or services in the United States.</text>
</paragraph></subsection><subsection id="id648BFB3977994A3C8132CC66E87D0168"><enum>(g)</enum><header>Award
criteria</header><text>In evaluating proposals for grants under this section,
the Council shall—</text>
<paragraph id="idE860CC37EDD248C497F7BD67F0811A1E"><enum>(1)</enum><text>determine, as 1
award factor, the extent to which a grant to each State or manufacturing
extension partnership center is expected to increase production, wages, or
employment in the United States;</text>
</paragraph><paragraph id="ID0a58477f159c418f81c4bc274c62dbb0"><enum>(2)</enum><text>not award any
grant which the Council believes could result in a decrease in production,
wages, or employment in the United States; and</text>
</paragraph><paragraph id="id6EDF93AA8AE543568C4641C5F6CA6550"><enum>(3)</enum><text>consult with
technology-specific boards staffed with experts in fields appropriate to the
proposals for grants being evaluated.</text>
</paragraph></subsection><subsection id="ID8cffa261f5104ddeb426d98941d5882c"><enum>(h)</enum><header>Minimum funding
level</header>
<paragraph id="idC12FE7659A1B4E2E85621279572A2125"><enum>(1)</enum><header>In
general</header><text>For each of the grant programs established under
subsections (a), (d), and (e)—</text>
<subparagraph id="id4AA2A8AC5DCC4932A17FA6F5BBDD2FB7"><enum>(A)</enum><text>not fewer than 1
grant shall be awarded to a grantee in each State; and</text>
</subparagraph><subparagraph id="idC30B996FAC27437581963807C733FFAE"><enum>(B)</enum><text>the amount of
each grant shall be not less than 80 percent of the average grant awarded in
such grant program.</text>
</subparagraph></paragraph><paragraph id="idA7AF976169BA4F57830093A2D61F56FA"><enum>(2)</enum><header>Population-based
allocations</header><text>In each State, the total amount of grant funds
awarded to grantees in such State under subsections (a) through (e) shall be
not less than 50 percent of the product of—</text>
<subparagraph id="idAA020CE5BFBC45F689D51BBE5ACCFBEE"><enum>(A)</enum><text>the percentage of
the population of the United States who are residents of such State, according
to the most recent decennial census; and</text>
</subparagraph><subparagraph id="idF6D7FEDACF0449C5ADB921D432B1EAEB"><enum>(B)</enum><text>the total amount
of grant funds awarded under subsections (a) through (e).</text>
</subparagraph></paragraph></subsection><subsection id="ID50ec8b173fc34b7781c8051c139c6892"><enum>(i)</enum><header>Coordination of
funds</header><text>Recipients of grants under this section may use, as
matching funds, amounts received from the agencies listed in section 415, to
the extent approved by the Council and such agencies.</text>
</subsection></section><section id="IDd570dd4e48214793bc094d00a9c1d31b"><enum>418.</enum><header>Authorization
of appropriations</header><text display-inline="no-display-inline">There are
authorized to be appropriated to the National Innovation Council, for each of
the fiscal years 2012 through 2016, such sums as may be necessary to carry out
this subtitle.</text>
</section></subtitle><enum>V</enum><header>Offsets</header>
<subtitle id="id36CB43D2441340EB8C656C6C510A2465"><enum>A</enum><header>Surtax on
high-income taxpayers</header>
<section display-inline="no-display-inline" id="HA28A15FC25DD45F4BA246FB84F76BC65" section-type="subsequent-section"><enum>501.</enum><header>Surtax on
millionaires</header>
<subsection id="H1AF74AB15367443E847AF49218D439E1"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subchapter A of
chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end
the following new part:</text>
<quoted-block display-inline="no-display-inline" id="H68B3E5ED711A460899A59259AD8FEE8E" style="OLC">
<part id="HE68ADC46065E49E29EAD319B3A46EF9A"><enum>VIII</enum><header>Surtax on
millionaires</header>
<toc container-level="subpart-container" idref="HE68ADC46065E49E29EAD319B3A46EF9A" lowest-bolded-level="division-lowest-bolded" lowest-level="section" quoted-block="no-quoted-block" regeneration="yes-regeneration">
<toc-entry idref="H7C1EBF7ADD474F3887944D5F3CCAB13C" level="section">Sec. 59B. Surtax on millionaires.</toc-entry>
</toc>
<section id="H7C1EBF7ADD474F3887944D5F3CCAB13C"><enum>59B.<?LEXA-Enum 59B.?></enum><header>Surtax on millionaires</header>
<subsection id="H522C22D8E2304DAF939665731F5591A5"><enum>(a)</enum><header>General
rule</header><text>In the case of a taxpayer other than a corporation for any
taxable year beginning after 2012 and before 2023, there is hereby imposed (in
addition to any other tax imposed by this subtitle) a tax equal to 2 percent of
so much of the modified adjusted gross income of the taxpayer for such taxable
year as exceeds $1,000,000 ($500,000, in the case of a married individual
filing a separate return).</text>
</subsection><subsection id="H11C18879FB5A4656B664B81F53DEEB24"><enum>(b)</enum><header>Inflation
adjustment</header>
<paragraph id="HA439353630A34CD7BEB4B5068B7263AB"><enum>(1)</enum><header>In
general</header><text>In the case of any taxable year beginning after 2013,
each dollar amount under subsection (a) shall be increased by an amount equal
to—</text>
<subparagraph id="H1A3A41F648964D5E8C2E89BADEEC67E3"><enum>(A)</enum><text>such dollar
amount, multiplied by</text>
</subparagraph><subparagraph id="HAE4E61F14D9B411587A6BC48C3B794E8"><enum>(B)</enum><text>the cost-of-living
adjustment determined under section 1(f)(3) for the calendar year in which the
taxable year begins, determined by substituting <quote>calendar year
2011</quote> for <quote>calendar year 1992</quote> in subparagraph (B)
thereof.</text>
</subparagraph></paragraph><paragraph id="H4D5466E1E6BE4AD8B01FE86F4CA669BD"><enum>(2)</enum><header>Rounding</header><text>If
any amount as adjusted under paragraph (1) is not a multiple of $10,000, such
amount shall be rounded to the next highest multiple of $10,000.</text>
</paragraph></subsection><subsection id="id7A9A10052B9042A0968F7439C651213B"><enum>(c)</enum><header>Modified
adjusted gross income</header><text>For purposes of this section—</text>
<paragraph id="idB7CC523C4CE14876B96B10A0E148ACD3"><enum>(1)</enum><header>In
general</header><text>The term <term>modified adjusted gross income</term>
means adjusted gross income reduced by the excess of—</text>
<subparagraph id="ID5a8787bc052248c688ba31b11a810055"><enum>(A)</enum><text>gross income from
a small business (as defined in section 6654(d)(1)(D)(iii))—</text>
<clause id="id082876CE9BC8499991ACFEE68B0F46E8"><enum>(i)</enum><text>which is not a
passive activity (within the meaning of section 469(c)), and</text>
</clause><clause id="id7DC6CCFA8EF44D778C4332077AF95740"><enum>(ii)</enum><text>with respect to
which the taxpayer pays wages to at least 1 full-time equivalent employee (as
defined in section 45R(d)(2)), other than the taxpayer, the taxpayer's spouse,
or an individual who bears a relationship to the taxpayer described in section
152(d)(2), over</text>
</clause></subparagraph><subparagraph id="ID65e220b89c4c4d87a0327dea98570e16"><enum>(B)</enum><text>the deductions
which are properly allocable to such income.</text>
</subparagraph></paragraph><paragraph id="id7309401F64A040EEA8124693B75CBE02"><enum>(2)</enum><header>Regulations</header><text>The
Secretary shall prescribe regulations similar to the regulations under section
469(l) for determining the income that is taken into account under paragraph
(1)(A).</text>
</paragraph></subsection><subsection id="HFA8AA1245BC645B7A981845A6CC111B8"><enum>(d)</enum><header>Special
rules</header>
<paragraph id="H91056A08DFAD4A3A8288EF192827451F"><enum>(1)</enum><header>Nonresident
alien</header><text display-inline="yes-display-inline">In the case of a
nonresident alien individual, only amounts taken into account in connection
with the tax imposed under section 871(b) shall be taken into account under
this section.</text>
</paragraph><paragraph id="HE209317559AE4E23A1DA7DBBB99D7BDA"><enum>(2)</enum><header>Citizens and
residents living abroad</header><text>The dollar amount in effect under
subsection (b) shall be decreased by the excess of—</text>
<subparagraph id="H6E27F8680FA049258B36663D24BE3896"><enum>(A)</enum><text>the amounts
excluded from the taxpayer’s gross income under section 911, over</text>
</subparagraph><subparagraph id="H7531001F71C84E82A887592694AEC1CE"><enum>(B)</enum><text display-inline="yes-display-inline">the amounts of any deductions or exclusions
disallowed under section 911(d)(6) with respect to the amounts described in
subparagraph (A).</text>
</subparagraph></paragraph><paragraph id="HA4587652828F4C6DBC43739FF0CF8984"><enum>(3)</enum><header>Charitable
trusts</header><text display-inline="yes-display-inline">Subsection (a) shall
not apply to a trust all the unexpired interests in which are devoted to one or
more of the purposes described in section 170(c)(2)(B).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HBD3512E2CD7D47C0A4F86D17D52EB726"><enum>(4)</enum><header>Not treated as
tax imposed by this chapter for certain purposes</header><text display-inline="yes-display-inline">The tax imposed under this section shall
not be treated as tax imposed by this chapter for purposes of determining the
amount of any credit under this chapter or for purposes of section
55.</text>
</paragraph></subsection></section></part><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H5D9653923D384E51BBBC336A41E29DC7"><enum>(b)</enum><header>Clerical
amendment</header><text display-inline="yes-display-inline">The table of parts
for subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended
by adding at the end the following new item:</text>
<quoted-block display-inline="no-display-inline" id="HCD459A5EF1C64C258A4645DBA9351A0B" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="subpart">Part VIII. Surtax on
millionaires.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection display-inline="no-display-inline" id="H5E1A86FC968B49B1B50DCA1A6C1E2B1D"><enum>(c)</enum><header>Section 15 not
To apply</header><text>The amendment made by subsection (a) shall not be
treated as a change in a rate of tax for purposes of section 15 of the Internal
Revenue Code of 1986.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H1037A56D9D63420793B242ED2124B414"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2012.</text>
</subsection></section></subtitle><subtitle id="id0F27A458B64B438DA53AEAD761D6008B"><enum>B</enum><header>Closing big oil
tax loopholes</header>
<section id="idF353B9ED394D4A8692BB0808664927E9" section-type="subsequent-section"><enum>511.</enum><header>Short title</header>
<subsection id="idCF498812C90241BB82451ED704004C66"><enum>(a)</enum><header>Short
title</header><text display-inline="yes-display-inline">This subtitle may be
cited as the <quote><short-title>Close Big Oil Tax
Loopholes Act</short-title></quote>.</text>
</subsection></section><part id="idE8DA88B5428D4FB1B6EE0DEF232D3831"><enum>I</enum><header>Close
big oil tax loopholes</header>
<section commented="no" display-inline="no-display-inline" id="id85C40D5C4E7C454E86A56B984305EA75"><enum>521.</enum><header>Modifications
of foreign tax credit rules applicable to major integrated oil companies which
are dual capacity taxpayers</header>
<subsection commented="no" display-inline="no-display-inline" id="id870C10B6A3A9401B8D2647B1A0E15EC0"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 901 of the
Internal Revenue Code of 1986 is amended by redesignating subsection (n) as
subsection (o) and by inserting after subsection (m) the following new
subsection:</text>
<quoted-block display-inline="no-display-inline" id="id59B4564047054D9F8EFB25B05BC5AF1E" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="id832013D669AB496E9217A5D70E41E716"><enum>(n)</enum><header>Special rules
relating to major integrated oil companies which are dual capacity
taxpayers</header>
<paragraph commented="no" display-inline="no-display-inline" id="idA86BDC3205EF48378545D9D088E03443"><enum>(1)</enum><header>General
rule</header><text display-inline="yes-display-inline">Notwithstanding any
other provision of this chapter, any amount paid or accrued by a dual capacity
taxpayer which is a major integrated oil company (as defined in section
167(h)(5)(B)) to a foreign country or possession of the United States for any
period shall not be considered a tax—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idCE1206A91A254CEFA030EAF1D94F610A"><enum>(A)</enum><text display-inline="yes-display-inline">if, for such period, the foreign country or
possession does not impose a generally applicable income tax, or</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id1430720C4FEC4AF1BAEDD845D4A2DE7E"><enum>(B)</enum><text display-inline="yes-display-inline">to the extent such amount exceeds the
amount (determined in accordance with regulations) which—</text>
<clause commented="no" display-inline="no-display-inline" id="id3616EAF2E4174061B78DB6C614CBB2C4"><enum>(i)</enum><text display-inline="yes-display-inline">is paid by such dual capacity taxpayer
pursuant to the generally applicable income tax imposed by the country or
possession, or</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idBBD48C80AE584E7AAE22BC2F3F750626"><enum>(ii)</enum><text display-inline="yes-display-inline">would be paid if the generally applicable
income tax imposed by the country or possession were applicable to such dual
capacity taxpayer.</text>
</clause></subparagraph><continuation-text commented="no" continuation-text-level="paragraph">Nothing in this paragraph shall be
construed to imply the proper treatment of any such amount not in excess of the
amount determined under subparagraph (B).</continuation-text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id2BE54CFB0E9F46AEABB5E04C1E1553D1"><enum>(2)</enum><header>Dual capacity
taxpayer</header><text display-inline="yes-display-inline">For purposes of this
subsection, the term <term>dual capacity taxpayer</term> means, with respect to
any foreign country or possession of the United States, a person who—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id114FA007ACB04E589C34FD9AE707FF40"><enum>(A)</enum><text display-inline="yes-display-inline">is subject to a levy of such country or
possession, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idB48A3E58EACB4262A062681509EBC2D3"><enum>(B)</enum><text display-inline="yes-display-inline">receives (or will receive) directly or
indirectly a specific economic benefit (as determined in accordance with
regulations) from such country or possession.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id4221398EC1FE4603A1915AC3F6F4FF31"><enum>(3)</enum><header>Generally
applicable income tax</header><text display-inline="yes-display-inline">For
purposes of this subsection—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id9A25BF879E264980B24CFC517824B854"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">The term
<term>generally applicable income tax</term> means an income tax (or a series
of income taxes) which is generally imposed under the laws of a foreign country
or possession on income derived from the conduct of a trade or business within
such country or possession.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id6008C386B2034848BC16753211264648"><enum>(B)</enum><header>Exceptions</header><text display-inline="yes-display-inline">Such term shall not include a tax unless it
has substantial application, by its terms and in practice, to—</text>
<clause commented="no" display-inline="no-display-inline" id="id8EFBAC16675449C2ABDBF167616DBFA1"><enum>(i)</enum><text display-inline="yes-display-inline">persons who are not dual capacity
taxpayers, and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idFE15C6C70615499EB6717AE075351274"><enum>(ii)</enum><text display-inline="yes-display-inline">persons who are citizens or residents of
the foreign country or
possession.</text>
</clause></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id2003AD9F498E450E87059BCEDDDD5689"><enum>(b)</enum><header>Effective
Date</header>
<paragraph commented="no" display-inline="no-display-inline" id="id2C2A93FA1BB14247A7D590BFFC676441"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">The amendments made
by this section shall apply to taxes paid or accrued in taxable years beginning
after the date of the enactment of this Act.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idF5637FD489954B729A309CFCDB650390"><enum>(2)</enum><header>Contrary treaty
obligations upheld</header><text display-inline="yes-display-inline">The
amendments made by this section shall not apply to the extent contrary to any
treaty obligation of the United States.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="idD36DA8177A7144CFBF7A1B681A26FAC2"><enum>522.</enum><header>Limitation on
section 199 deduction attributable to oil, natural gas, or primary products
thereof</header>
<subsection id="id4EDE82BB1896423CAC005CECEA288DF2"><enum>(a)</enum><header>Denial of
deduction</header><text>Paragraph (4) of section 199(c) of the Internal Revenue
Code of 1986 is amended by adding at the end the following new
subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="id2210F32B480A46E2AC61114E84235138" style="OLC">
<subparagraph id="id6407FC188C044D07833FBF6465572FA7"><enum>(E)</enum><header>Special rule
for certain oil and gas income</header><text>In the case of any taxpayer who is
a major integrated oil company (as defined in section 167(h)(5)(B)) for the
taxable year, the term <term>domestic production gross receipts</term> shall
not include gross receipts from the production, transportation, or distribution
of oil, natural gas, or any primary product (within the meaning of subsection
(d)(9))
thereof.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idDBB26ED5A91244F4861028F78CCB4383"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id403D99C1C16848C48F5209F4984C4B56"><enum>523.</enum><header>Limitation on
deduction for intangible drilling and development costs</header>
<subsection commented="no" display-inline="no-display-inline" id="idE1C6CA4AEAFC44B1B4063EF0543F48BC"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 263(c) of the
Internal Revenue Code of 1986 is amended by adding at the end the following new
sentence: <quote>This subsection shall not apply to amounts paid or incurred by
a taxpayer in any taxable year in which such taxpayer is a major integrated oil
company (as defined in section 167(h)(5)(B)).</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idED920A4A6A5B4A26BC8B338B4E7B37D5"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendment made by
this section shall apply to amounts paid or incurred in taxable years beginning
after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idEBDA974B3B2449F6AD96FC529404DCFC" section-type="subsequent-section"><enum>524.</enum><header display-inline="yes-display-inline">Limitation on percentage depletion
allowance for oil and gas wells</header>
<subsection commented="no" display-inline="no-display-inline" id="idD496B7DFC3B14DF282E5667BF776AB1D"><enum>(a)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">Section 613A of the Internal Revenue Code
of 1986 is amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="idD45339352F7447D0AA745594CCCAED20" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="idF845C6D7007B4C8E842C3BB31F28E006"><enum>(f)</enum><header display-inline="yes-display-inline">Application with respect to major
integrated oil companies</header><text display-inline="yes-display-inline">In
the case of any taxable year in which the taxpayer is a major integrated oil
company (as defined in section 167(h)(5)(B)), the allowance for percentage
depletion shall be
zero.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id3C74932924574C798E37E2F28D0C565C"><enum>(b)</enum><header display-inline="yes-display-inline">Effective
date</header><text display-inline="yes-display-inline">The amendment made by
this section shall apply to taxable years beginning after December 31,
2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id2F1FB5D5F7E346B98CBBC0EA3C1E3FBC"><enum>525.</enum><header>Limitation on
deduction for tertiary injectants</header>
<subsection commented="no" display-inline="no-display-inline" id="idBF9377D05B604E8480EEB031445D9565"><enum>(a)</enum><header>In
general</header><text>Section 193 of the Internal Revenue Code of 1986 is
amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="id57DA761F659040E3A9495A0210B69564" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="id1C24D288BC784E0594C10F14AA09860C"><enum>(d)</enum><header>Application
with respect to major integrated oil companies</header><text display-inline="yes-display-inline">This section shall not apply to amounts
paid or incurred by a taxpayer in any taxable year in which such taxpayer is a
major integrated oil company (as defined in section
167(h)(5)(B)).</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idD1309F3F5A1E4A838C6DC30FC0B72391"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendment made by
this section shall apply to amounts paid or incurred in taxable years beginning
after December 31, 2011.</text>
</subsection></section></part><part id="id3B3829322ACA4278A97E94F6A2FA9186"><enum>II</enum><header>Outer
Continental Shelf oil and natural gas</header>
<section id="idC1DA2680506941FEB12BA0AB7D5BBF45"><enum>531.</enum><header>Repeal of
outer Continental Shelf deep water and deep gas royalty relief</header>
<subsection id="ID88967378382d4559bfe0b6d77e073454"><enum>(a)</enum><header>In
general</header><text>Sections 344 and 345 of the Energy Policy Act of 2005 (42
U.S.C. 15904, 15905) are repealed.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID9684bc5301944d2a8a169adf21e1b2b7"><enum>(b)</enum><header>Administration</header><text>The
Secretary of the Interior shall not be required to provide for royalty relief
in the lease sale terms beginning with the first lease sale held on or after
the date of enactment of this Act for which a final notice of sale has not been
published.</text>
</subsection></section></part></subtitle>