[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2005 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 2005
To establish the IMPACT for Energy Foundation.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 27, 2019
Mr. Coons (for himself and Mr. Graham) introduced the following bill;
which was read twice and referred to the Committee on Energy and
Natural Resources
_______________________________________________________________________
A BILL
To establish the IMPACT for Energy Foundation.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Increasing and Mobilizing
Partnerships to Achieve Commercialization of Technologies for Energy
Act'' or the ``IMPACT for Energy Act''.
SEC. 2. DEFINITIONS.
In this Act:
(1) Department.--The term ``Department'' means the
Department of Energy.
(2) Foundation.--The term ``Foundation'' means the IMPACT
for Energy Foundation established under section 3(a).
(3) Secretary.--The term ``Secretary'' means the Secretary
of Energy.
SEC. 3. ESTABLISHMENT OF IMPACT FOR ENERGY FOUNDATION.
(a) Establishment.--
(1) In general.--Not later than February 1, 2021, the
Secretary shall establish a nonprofit corporation to be known
as the ``IMPACT for Energy Foundation''.
(2) Limitation.--The Foundation shall not be an agency or
instrumentality of the Federal Government.
(3) Nonapplicability of faca.--The Federal Advisory
Committee Act (5 U.S.C. App.) shall not apply to the
Foundation.
(4) Nonprofit status.--The Foundation shall be an
organization described in section 501(c) of the Internal
Revenue Code of 1986 and exempt from taxation under section
501(a) of that Code.
(5) Board of directors.--
(A) In general.--The Foundation shall operate under
a board of directors.
(B) Initial appointment.--The initial appointment
of the board of directors shall be facilitated by the
Secretary.
(C) Composition.--To the maximum extent
practicable, the board of directors shall include
representatives from a diverse range of communities,
including--
(i) the academic community;
(ii) the business community;
(iii) nonprofit organizations;
(iv) the communities surrounding the
laboratories and facilities of the Department;
and
(v) the technology transfer and
commercialization community.
(D) Restriction on membership.--No employee of the
Department shall be appointed as a member of the board
of directors.
(b) Purpose; Activities.--
(1) Purpose.--The purpose of the Foundation is to channel
private sector investments that support efforts to create,
develop, and commercialize innovative technologies that address
energy challenges by methods that include--
(A) fostering collaboration and partnerships with
researchers from the Federal Government, State
governments, institutions of higher education,
federally funded research and development centers,
industry, and nonprofit organizations for the research,
development, or commercialization of transformative
energy technologies;
(B) leveraging technologies by supporting new
product development that supports regional economic
development; and
(C) administering prize competitions to accelerate
private sector competition and investment.
(2) Activities.--
(A) In general.--The Foundation may solicit and
accept gifts, grants, and other donations, establish
accounts, and invest and expend funds in support of the
activities and programs described in subparagraphs (B)
through (D).
(B) Studies, competitions, and projects.--The
Foundation may conduct and support studies,
competitions, projects, and other activities that
further the purpose of the Foundation described in
paragraph (1).
(C) Fellowships and grants.--
(i) Award.--The Foundation may award
fellowships and grants for activities relating
to research, development, prototyping,
maturing, or commercializing of energy
technologies.
(ii) Form of award.--A fellowship or grant
under clause (i) may consist of a stipend,
health insurance benefits, funds for travel,
and funds for other appropriate expenses.
(iii) Selection.--
(I) In general.--The Foundation
shall award a fellowship or grant under
clause (i) based on the technical and
commercialization merits of the
proposed project.
(II) Input.--In selecting
recipients of a fellowship or grant
under clause (i), the Foundation may
consult with potential recipients
regarding the ability to carry out
various projects that would further the
purpose of the Foundation described in
paragraph (1).
(iv) Federal laboratories.--A Federal
laboratory that applies for or accepts a grant
under clause (i) shall not be considered to be
engaging in a competitive procedure.
(D) Supplementary programs.--The Foundation may
carry out supplementary programs--
(i) to conduct and support forums,
meetings, conferences, courses, and training
workshops consistent with the purpose of the
Foundation described in paragraph (1);
(ii) to support and encourage the
understanding and development of--
(I) data reporting models that
promote the translation of technologies
from the research stage, through the
development and maturation stage, and
ending in the market stage; and
(II) policies that make regulation
more effective and efficient by
leveraging the technology translation
data described in subclause (I) for the
regulation of relevant technology
sectors;
(iii) for writing, editing, printing,
publishing, and vending books and other
materials relating to research carried out
under the Foundation; and
(iv) to conduct other activities to carry
out and support the purpose of the Foundation
described in paragraph (1).
(E) Authority of foundation.--The Foundation shall
be the sole entity responsible for carrying out the
activities described in this paragraph.
(F) Administrative control.--No participant in a
program under this paragraph or employee of the
Foundation shall exercise any administrative control
over any Federal employee.
(c) Support Services.--The Secretary may provide facilities,
utilities, and support services to the Foundation if it is determined
by the Secretary to be advantageous to the research programs of the
Department.
(d) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as are necessary for
fiscal year 2020 and each fiscal year thereafter.
SEC. 4. ESTABLISHMENT OF FOR-PROFIT SUBSIDIARIES.
(a) Establishment.--The Foundation may establish 1 or more for-
profit subsidiaries, including an impact investment fund--
(1) to stimulate economic development activities relating
to the purpose of the Foundation described in section 3(b)(1);
and
(2) to attract for-profit investment partners for
technology translation and commercialization activities.
(b) Authorities of the For-Profit Subsidiary.--
(1) In general.--Subject to paragraph (2), a for-profit
subsidiary established under subsection (a) may--
(A) enter into a partnership with an economic
development corporation, including an incubator,
accelerator, or small business investment company;
(B) pay for the cost of building and administering
a facility, including a microlab or incubator, to
support the activities of the Foundation described in
section 3(b)(2); and
(C) provide funding to a startup.
(2) Cost recovery requirements.--A for-profit subsidiary
established under subsection (a) shall--
(A) ensure that the Foundation owns any
intellectual property rights generated through
activities funded by the for-profit subsidiary, if
appropriate; and
(B) own an equity stake in any startup invested in
by the for-profit subsidiary.
<all>