[Congressional Record Volume 166, Number 96 (Thursday, May 21, 2020)]
[Senate]
[Pages S2588-S2605]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS
By Mrs. FEINSTEIN:
S. 3811. A bill to provide financial assistance for projects to
address certain subsidence impacts in the State of California, and for
other purposes; to the Committee on Energy and Natural Resources.
Mrs. FEINSTEIN. Mr. President, I rise to speak in support of the
Restoration of Essential Conveyance Act, which I introduced today.
Representatives TJ Cox and Jim Costa, both Democrats of California,
have introduced companion legislation in the House.
This legislation would help California water users and California's
nation-leading agricultural industry comply with a recent State
requirement to end the overpumping of groundwater. The stakes are huge:
Bringing groundwater into balance will reduce the water supply of the
San Joaquin Valley by about 2 million acre-feet per year.
Unless local water agencies and the State and Federal governments
take action, a recent U.C. Berkeley study has projected severe impacts
from these water supply losses: 798,000 acres of land would have to be
retired from agricultural production, nearly one-sixth of the working
farmland in an area that produces half the fruit and vegetables grown
in the Nation; and $5.9 billion would be lost in annual farm income.
How the bill would help: One of the most cost-effective and efficient
ways to restore groundwater balance is to convey floodwaters to
farmlands where they can recharge the aquifer. California has the most
variable precipitation of any State. When we get massive storms from
atmospheric rivers, there is plenty of runoff to recharge aquifers--but
only if we can effectively convey the floodwaters throughout the San
Joaquin Valley to recharge areas.
Here is where the challenge arises. For a variety of reasons, the
ground beneath the major canals has dropped by as much as 10 to 20 feet
which has caused canals designed to convey floodwaters to buckle and
drop in many places. Other parts of the canals have not subsided, so
the water gets stuck in the low points.
As a result, these essential canals for conveying floodwaters have
lost as much as 60 percent of their conveyance capacity. The bill I am
introducing today would provide Federal assistance to help fix these
Federal canals.
Specifically, the bill would authorize $600 million in Federal
funding-cost share for three major projects to repair Federal canals
damaged by subsidence to achieve their lost capacity: $200 million for
the Friant-Kern Canal, which would move an additional 100,000 acre-feet
per year on average; $200 million for the Delta Mendota Canal, which
would move an additional 62,000 acre-feet per year on average; and $200
million for California Aqueduct repairs, which would move an additional
205,000 acre-feet per year on average. While parts of the California
Aqueduct are State-owned, the majority of the repairs are on its
federally owned portion.
The bill would also authorize $200 million in additional funding for
the Environmental Restoration Goal of the San Joaquin River settlement.
This provision will ensure that the bill helps to restore not only the
San Joaquin Valley's water supply, but also its native salmon runs. I
think it is appropriate that we consider legislation that would benefit
both our water supply and the environment.
Benefits of the bill: If the Federal Government covers a portion of
the cost of restoring these three essential Federal canals for
conveying floodwaters, it will give local farmers a fighting chance to
bring their groundwater basins into balance without being forced to
retire massive amounts of land.
Critically, the ability to deliver floodwaters through restored
Federal canals will allow the water districts to invest in their own
turnouts, pumps, detention basins and other groundwater recharge
projects. The South Valley Water Association, which covers just a small
part of the Valley, provided my office with a list of 36 such projects
for its area alone.
The Public Policy Institute of California, or PPIC, has determined
that groundwater recharge projects are the best option to help the San
Joaquin Valley comply with the new state groundwater pumping law. PPIC
projects that the Valley can make up 300,000 to 500,000 acre feet of
its groundwater deficit through recharge projects.
Job Losses if We Take No Action: A forthcoming study commissioned by
the coalition group called the ``Water Blueprint for the San Joaquin
Valley'' estimates that required reductions in groundwater could cause
a loss of up to 42,000 farm and agricultural jobs in the San Joaquin
Valley. Another 40,000 jobs or more could be lost statewide each year
due to reductions in valley agricultural production, putting the total
at approximately 85,000 jobs statewide. Most of these impacts will fall
disproportionately on economically disadvantaged communities. These
impacts will be significant unless we address them through
collaborative planning, policies, infrastructure, recharge, and
necessary financial support.
Friant-Kern Canal: Let me now turn to the three critical canals that
the bill would authorize assistance to restore. The Friant-Kern Canal
is a key feature of the Friant Division of the Federal Central Valley
Project on the Eastside of the San Joaquin Valley. For nearly 70 years,
the Friant Division successfully kept groundwater tables stable on the
Eastside. This provided a sustainable source of water for farms and for
thousands of Californians
[[Page S2589]]
and more than 50 small, rural, or disadvantaged communities who rely
entirely on groundwater for their household water supplies.
But unsustainable groundwater pumping in the valley has reduced the
Friant-Kern Canal's ability to deliver water to all who need it. Land
elevation subsidence caused by over-pumping means that not all of the
supplies stored at Friant Dam can be conveyed through the canal. In
some areas, the canal can carry only 40 percent of what it is designed
to deliver.
In 2017, a very wet year in which we should have been banking as much
flood water as possible, the Friant-Kern Canal couldn't deliver an
additional 300,000 acre-feet of water that it would have been able to
convey had its capacity not been limited by subsidence. This
significant amount of water would have been destined for groundwater
recharge efforts in the south San Joaquin Valley, where the impacts of
reduced water deliveries, water quality issues and groundwater
regulation are expected to be most severe.
California Aqueduct and Delta Mendota Canal: The California Aqueduct
serves more than 27 million people in Southern California and the
Silicon Valley and more than 750,000 acres of the Nation's most
productive farmland. But despite its name, much of the California
Aqueduct is owned by the Federal Government and serves portions of
Silicon Valley, small towns and communities in the northern San Joaquin
Valley, and farms from Firebaugh to Kettleman City. The aqueduct
represents a successful 70-year partnership between the Federal
Government and the State of California.
In recent years, particularly recent drought years, the California
Aqueduct has subsided. It has lost as much as 20 percent of its
capacity to move water to California's families, farms, and businesses.
California is leading efforts to repair the aqueduct and is working to
provide its share of funding, but the Federal Government will also need
to pay its fair share. The bill I am introducing today would authorize
$200 million toward restoring the California Aqueduct.
The Delta-Mendota Canal stretches southward 117 miles from the C.W.
Bill Jones Pumping Plant along the western edge of the San Joaquin
Valley, parallel to the California Aqueduct. The Delta-Mendota Canal
has lost 15 percent of its conveyance capacity due to subsidence. The
bill I am introducing today would authorize $200 million toward
restoring its full ability to convey floodwaters to farms needing to
recharge their groundwater, and to wildlife refuges for migratory
waterfowl.
In conclusion, this bill responds to a potential crisis that very
possibly could cause the forced retirement of nearly one-sixth of the
working farmland in an area that produces half of America's fruits and
vegetables.
These are Federal canals, and the Federal Government must help give
these farmers and communities reliant of the agricultural economy a
fighting chance to keep their lands in production.
I hope my colleagues will join me in support of this bill. I yield
the floor.
______
By Mr. RUBIO (for himself, Mr. Cardin, Ms. Collins, Mrs. Shaheen,
and Mr. Durbin):
S. 3833. A bill to extend the loan forgiveness period for the
paycheck protection program, and for other purposes; read the first
time.
Ms. COLLINS. Mr. President, I rise today to introduce, with my
colleagues Senator Rubio, Cardin, and Shaheen, legislation to
strengthen the Paycheck Protection Program, which has proven to be such
an important lifeline to America's small businesses and their employees
during this pandemic.
Senators Rubio, Cardin, Shaheen, and I worked together as part of the
Small Business Task Force to create this program during the development
of the CARES Act 2 months ago.
Since its launch in early April, this program has provided forgivable
loans totaling more than $510 billion to approximately 4.3 million
small employers across the country. The overwhelming majority of
borrowers are very small employers.
In phase 1 of the program, the average PPP loan size nationally was
$206,000. That translates to an average employer size of just 18
employees. As more loans have been approved in phase 2, the average
loan size nationally has dropped to $118,000, suggesting an average
business size of about 10 employees.
In Maine, the average loan size is even smaller, with borrowers
having an estimated 12 employees in phase 1 and just three employees in
phase 2. According to the U.S. Census Bureau, nearly two-thirds of the
small businesses in Maine have benefited from PPP loans, and that is, I
am pleased to say, among the highest rates in the Nation.
In many ways, it is not a surprise. Maine is the State of small
businesses. Ninety percent of all the Maine businesses are considered
to be small businesses, and they employ approximately 60 percent of all
the workers in our State. Overall, in Maine, the funds are sufficient
to support approximately 200,000 jobs.
Let's think about this. That means that a business that is seeing
receipts go down, is in a cash flow problem, liquidity has dried up can
still retain employees who otherwise would have been laid off. In more
cases, it has allowed a business to call back furloughed employees. And
even in cases where the business has been forced to close its doors
because of government orders, it has kept alive the connection between
the employer and his or her employees. That is so important because, as
the economy does open back up, we want to make sure that link between
the employer and the employees remains intact so that the workforce can
come back to work as soon as possible
It is important, as we discuss the economic data behind the PPP, to
remember that these are real businesses with real people--people like
Larry Geaghan, who owns and runs a craft brewery and pub in Bangor, ME.
Larry calls the PPP a ``lifeline bill'' that has made all the
difference in helping him to bring back 25 of his employees and reopen
for takeout business.
Another Maine borrower--the owner of a small marina--told me that the
PPP was exactly what he needed at exactly the right time. With the PPP,
this marina has been able to keep all of its employees on payroll, and
because they weren't worried about whether they would have a paycheck,
these employees continued spending as they normally would--exactly what
our Maine economy needs.
Another example of a small business helped by the PPP is the Frog &
Turtle Gastro Pub in Westbrook, ME. This pub just completed an
extensive renovation and is hoping to reopen June 1, the first day that
sit-down dining service will be allowed again in the State of Maine.
The owner of this pub wrote to me to say that the ``PPP program
allowed us to bring back our 15 employees and sustain our business
during these trying conditions,'' and that taking a PPP loan was the
``right decision'' for his employees and for his small restaurant.
When we were initially developing the Paycheck Protection Program, we
had no idea how long the pandemic would last. We did not know that
there would be virtually universal economic shutdowns, nor did we know
how each State would respond to outbreaks in their communities. The
bipartisan bill that we are introducing today builds on the success of
the PPP by providing small businesses with additional flexibility so
that they can more effectively use these funds in conjunction with
State reopening plans.
And, again, I would remind my colleagues that when we were drafting
the first version of this, it was before there were widespread orders
shutting down restaurants and bars and retail establishments.
Specifically, the Paycheck Protection Program Extension Act that we
are introducing today would do the following: It would allow borrowers
the flexibility to use their 8 weeks of funding at a point of their
choosing within a 16-week period. Small businesses could choose the
period that they believe works best to coincide with the reopening of
their local economy.
So some small businesses took the loans very early, thinking that the
shutdowns would not last or that the pandemic would be on the way down
by now, which it is in some States, thank goodness, but not in all.
Well, this builds in more flexibility. You would have 16 weeks to use
the loan funds instead of 8.
[[Page S2590]]
Second, it extends the deadline to apply for a PPP loan from June 30
to December 31 of this year.
Again, this reflects the fact that shutdowns lasted far longer in
virtually every State than we anticipated when we were drafting the
bill in March.
Third, the bill would allow borrowers to use loan funds to purchase
personal protective equipment for employees and to pay for adaptive
investments needed to reopen safely.
Adaptive investments could include modifications to a commercial
property to comply with the social distancing regulations or guidelines
from the CDC. It could mean creating or expanding a drive-through
window service, erected physical barriers such as we see at the grocery
stores now, those plexiglass barriers or sneeze guards. It could mean
installing ventilation system upgrades or, as many restaurants have
mentioned to me, they would like to add an outside patio for outdoor
eating, which would allow them to maintain the same number of
customers, which they can't do now, and abide by the social distancing
guidelines.
The bill would also clarify that the current lender hold-harmless
provision relates to all Small Business Administration and Treasury
guidance regarding PPP loans. A lender that in good faith followed
Federal guidance related to PPP would not be later held liable if the
guidance subsequently changed.
I would like to give a shout-out to our small community banks and
credit unions in the State of Maine. They have really stepped up to the
plate for this program to serve the small businesses, small employers
in our State, for the small nonprofits, and that has made a real
difference to the employees of these establishments.
And finally, the bill would clarify that borrowers who have
maintained payroll for 8 weeks will not lose loan forgiveness due to
the extension of the program to 16 weeks.
Now, I would hope that that would be obvious, but we wanted to make
sure that we were explicit.
The Paycheck Protection Program is the single most critical stimulus
program protecting Main Street America from the economic devastation of
the measures taken to control the spread of COVID-19. The bill we are
introducing today strengthens the PPP to reflect the evolving nature of
this pandemic, the necessity of regulatory actions that have caused a
great deal of economic harm but were necessary to prevent the spread of
the virus, and I urge all of my colleagues to support this bill
______
By Mr. CRUZ:
S. 3835. A bill to prohibit the use of funds for the production of
films by United States companies that alter content for screening in
the People's Republic of China, and for other purposes; to the
Committee on Homeland Security and Governmental Affairs.
Mr. CRUZ. Mr. President, I rise today to discuss the single most
dangerous geopolitical threat that America faces now and through the
next century--China.
We are in the midst of a pandemic that has infected over 5 million
people and has claimed the lives of over 300,000 people worldwide. In
the United States alone, the pandemic has infected over 1.5 million
people and has claimed over 93,000 lives.
The coronavirus pandemic has shattered the lives of husbands and
wives, daughters, sons, granddaughters, grandsons, brothers, sisters,
nieces, nephews who have lost loved ones to COVID-19.
It has also shattered the lives of those who have lost their jobs,
their livelihoods, because of this disease.
Thirty-eight million Americans are now out of work. The unemployment
rate is at the highest it has ever been since the Great Depression, and
entire industries are on the brink of collapse. Just 4 months ago, when
the economy was booming, that was unthinkable.
Where did this pandemic start? In China. Whether it began at the
Huanan wet market, a barbaric breeding ground for disease, where snakes
and turtles and puppies and kittens and bats and other wildlife and
farm animals are killed and sold, or whether it began due to
substandard safety protocols at the Wuhan Institute of Virology, where
research into coronavirus was being conducted and specifically
coronavirus from bats, we don't yet know.
Here is what we do know: Not only did the coronavirus outbreak start
in China, the Chinese Communist Government did everything it could to
cover up the severity of the outbreak, from lying about the origin of
the virus to how it is transmitted, to destroying evidence, to
silencing the brave whistleblower doctors and scientists and
journalists and activists who tried to warn the world and prevent a
global pandemic.
It has been reported recently that between January 1 and April 4, the
Chinese Government charged 484 people with crimes because of comments
they made about the coronavirus pandemic.
In Wuhan, eight doctors who sounded the alarm about coronavirus in
December were accused of spreading lies, arrested, and forced to sign
documents claiming that they had made false statements that ``disturbed
the public order.''
In reality, they were telling the truth. They were warning us.
One of those doctors, Dr. Ai Fen, has been missing since late March.
Another, Dr. Li Wenliang, has since died from the coronavirus. Dr. Li
Wenliang's wife was pregnant with the couple's second child when he
died.
And it is not just Chinese doctors who are paying the price for
telling the truth; journalists and activists who courageously spoke up
are disappearing too.
Xu Zhangrun, a Chinese law professor who spoke out about the Chinese
Government's handling of the coronavirus outbreak and criticized
Chinese President Xi, has been missing since February.
Chen Qiushi, a Chinese lawyer and journalist who went to Wuhan to
report on what was happening there, has been missing since February 6.
Fang Bin, a Wuhan businessman and journalist who reported on the number
of bodies piling up outside a Wuhan hospital has been missing since
February 9. Li Zehua, a journalist who quit his job as a broadcaster
for the Chinese Communist Party's TV station so he could report on what
was happening in Wuhan, went missing for 28 days and then was allowed
to reappear in public only after he praised the government's policy.
Ren Zhiqiang, a real estate tycoon, who had been publicly critical of
President Xi's handling of the coronavirus crisis, has been missing
since March 12. And Xu Zhiyong, a civil rights lawyer and a legal
scholar who criticized President Xi on social media for his handling of
the coronavirus crisis, has been on house arrest since February 13.
If the Chinese Government had acted responsibly and sought the advice
of public health professionals instead of silencing them, there is a
very real possibility the coronavirus could have been contained as a
regional outbreak. Instead, we are now dealing with a deadly global
pandemic.
These brave men and women are just the latest targets of the Chinese
Communist Government's relentless attacks on truth-tellers, on freedom
fighters, and on religious and ethnic minorities. The Chinese
Government is a 1984-style dystopian state, and it has tracked and
imprisoned millions of Uyghurs and other religious minorities. The
Chinese Government is constantly tracking the movements of millions of
people using cutting-edge biotechnology and artificial intelligence,
and it has put 1 million Uyghurs, right now, into concentration camps.
In 2017, I led a bipartisan resolution in this body condemning the
Chinese Communist Party's persecution of religious minorities,
particularly Buddhist Tibetans. Last year, I introduced legislation and
urged the Trump administration to blacklist Chinese companies that are
aiding the Chinese Government in its persecution of the Uyghurs. The
administration implemented the recommendations in my legislation, and
as a result those companies are now banned from acquiring American
goods. That is a step in the right direction.
We have known that China's surveillance state and censorship
practices are a great threat to human rights, but what the pandemic has
shown us is that China's surveillance state and censorship is also a
great threat to our national security and to public health. Had those
doctors, journalists, and activists who were trying to tell the
[[Page S2591]]
truth--desperately trying to warn the world--had they been allowed to
speak, the coronavirus outbreak might have been stopped in its tracks.
We may not have had to deal with this devastating pandemic that has
claimed the lives and the livelihoods of men and women all over the
world.
That is why, today, I am introducing legislation to sanction Chinese
officials who helped censor political speech or suppress the
dissemination of medical information by citizens of China. This
legislation would impose visa bans and asset blocks on those who punish
or censor Chinese citizens for reporting accurate information about a
disease or a pathogen and hopefully will help prevent something like
this from ever happening again in China.
We need to be vigilant and to act where we can to thwart the Chinese
Government's attempts to twist the truth, to censor, and to silence
within China, but we also need to be vigilant about the Chinese
Government's attempts to censor and silence elsewhere, including in our
own Nation.
In the United States, the Chinese Government attempts to spread
propaganda by two ways: by leveraging their enormous market access to
coerce Americans into self-censorship, especially to Hollywood and
sports teams that stand to make billions of dollars in China, and by
simply purchasing access to our cultural and educational centers. With
both levers, Chinese officials have one objective: to shape what
Americans see, hear, and ultimately think.
China has the world's second largest film market, second only the
United States, and it does around $8 billion in box office revenues per
year. The Chinese film market is comprised of Chinese films, but they
also make sure to allow a few dozen American films into their market
every year. The number is deliberately kept low, and in exchange for
access, American film companies submit their films to China's censors
who often force them to change those films. American companies have
learned this fact, and they will often change the films even in advance
of submitting.
As a result, they control not just what audiences see in China but
also what Americans see. The Chinese Government's censorship office
seeks to edit anything to do with Tibet, with Taiwan, with Tiananmen
Square, with human rights, with democracy, with religion, or with any
criticism of communism, particularly the Chinese Communist Party.
Recently, the Chinese Government has succeeded in forcing changes to
movies such as ``Top Gun,'' the sequel; such as ``Doctor Strange'';
such as ``Skyfall''; such as the remake of ``Red Dawn.'' ``Pixels,''
``Looper,'' ``Bohemian Rhapsody'' all were movies that were changed.
In ``Bohemian Rhapsody,'' the Chinese Communist Party edited out
references to the fact that Freddy Mercury was gay. In ``Doctor
Strange,'' they changed the Ancient One's character from Tibetan, as
portrayed in the comic book, to Celtic. And in the ``Top Gun'' sequel
that is set to come out later this year, the Taiwanese and Japanese
flag on the back of Maverick's jacket were removed to appease the
Chinese Communist Party.
Think about that for a second. What message does it send that
``Maverick,'' an American icon, is apparently afraid of Chinese
Communists. That is ridiculous.
That is why, today, I am introducing the SCRIPT Act, which would cut
off Hollywood studios from the assistance they receive from the U.S.
Government if those films censor their films for screening in China. It
is common practice for major Hollywood films to contract with the
Pentagon to use jets and tanks and to film on bases and aircraft
carriers.
The SCRIPT Act should be a wake-up call for Hollywood. Studios would
be forced to choose between the assistance from the Federal Government
or the money they want from China.
The second way the Chinese Government attempts to spread propaganda
is by purchasing access to our cultural and educational centers. The
Chinese Government spends billions of dollars to shape what the next
generation of Americans know and think about China. They have a
pervasive presence in our K-12 education and in our colleges and
universities, especially through Confucius Institutes and by directly
financing departments and centers.
In the National Defense Authorization Act for Fiscal Year 2019, I
authored bipartisan legislation prohibiting the Department of Defense
from funding universities when the money could go to Confucius
Institutes. As a result, over a dozen Confucius Institutes have closed.
We need to stand up and deal directly with the threat China poses.
China bears direct responsibility and direct culpability for the over
300,000 people who have died worldwide and for the trillions in
economic livelihoods that have been destroyed.
Today, I introduce three pieces of legislation to directly address
Chinese censorship and their responsibility for this pandemic, and we,
as a body, as a bipartisan body, need to stand and stand strong
protecting U.S. national security, protecting the lives of Americans,
and ensuring accountability; that the Chinese Communist Party has
accountability for their censorship, their hiding of the facts of this
pandemic, and the lives that have been lost as a result of their
coverup.
______
By Mr. THUNE (for himself and Ms. Hassan):
S. 3794. A bill to expedite transportation project delivery,
facilitate infrastructure improvement, and for other purposes; to the
Committee on Commerce, Science, and Transportation.
Mr. THUNE. Mr. President, I ask unanimous consent that the text of
the bill be printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 3794
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Railroad
Rehabilitation and Financing Innovation Act''.
(b) Table of Contents.--The table of contents for this Act
is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Railroad Rehabilitation and Improvement Financing Program.
Sec. 3. Conforming amendments.
Sec. 4. Transitional and savings provisions.
Sec. 5. Repeals.
SEC. 2. RAILROAD REHABILITATION AND IMPROVEMENT FINANCING
PROGRAM.
(a) Amendment to Title 49, United States Code.--Part B of
subtitle V of title 49, United States Code, is amended by
inserting after chapter 223 the following:
``CHAPTER 224--RAILROAD REHABILITATION AND IMPROVEMENT FINANCING
PROGRAM
``22401. Definitions.
``22402. Direct loans and loan guarantees.
``22403. Administration of direct loans and loan guarantees.
``22404. Employee protection.
``22405. Substantive criteria and standards.
``22406. Funding.
``Sec. 22401. Definitions
``In this chapter:
``(1) Cost.--
``(A) In general.--The term `cost' means the estimated
long-term cost to the Government of a direct loan or loan
guarantee, or modification of the direct loan or loan
guarantee, calculated on a net present value basis, excluding
administrative costs and any incidental effects on
governmental receipts or outlays.
``(B) Cost of direct loans.--
``(i) In general.--The cost of a direct loan shall be the
net present value, at the time when the direct loan is
disbursed, of the following estimated cash flows:
``(I) Loan disbursements.
``(II) Repayments of principal.
``(III) Payments of interest and other payments by or to
the Government over the life of the loan.
``(ii) Calculation.--Calculation of the cost of a direct
loan shall include the effects of changes in loan terms
resulting from the exercise by the borrower of an option
included in the loan contract.
``(C) Cost of loan guarantee.--
``(i) In general.--The cost of a loan guarantee shall be
the net present value, at the time when the guaranteed loan
is disbursed, of the following estimated cash flows:
``(I) Payments by the Government to cover defaults and
delinquencies, interest subsidies, or other payments.
``(II) Payments to the Government, including origination
and other fees, penalties, and recoveries.
``(ii) Calculation.--Calculation of the cost of a loan
guarantee shall include the effects of changes in loan terms
resulting from the exercise by the guaranteed lender of an
option included in the loan guarantee, or by the borrower of
an option included in the guaranteed loan contract.
``(D) Cost of modification.--The cost of a modification is
the difference between the current estimate of the net
present value of the remaining cash flows under the terms of
a direct loan or loan guarantee contract, and the current
estimate of the net present value
[[Page S2592]]
of the remaining cash flows under the terms of the contract,
as modified.
``(E) Estimation of net present values; discount rate.--In
estimating net present values, the discount rate shall be the
average interest rate on marketable Treasury securities of
similar maturity to the cash flows of the direct loan or loan
guarantee for which the estimate is being made.
``(F) Estimated cost; basis.--When funds are obligated for
a direct loan or loan guarantee, the estimated cost shall be
based on the current assumptions, adjusted to incorporate the
terms of the loan contract, for the fiscal year in which the
funds are obligated.
``(2) Current.--The term `current' has the same meaning
given the term in section 250(c)(9) of the Balanced Budget
and Emergency Deficit Control Act of 1985 (2 U.S.C.
900(c)(9)).
``(3) Direct loan.--
``(A) In general.--The term `direct loan' means a
disbursement of funds by the Government to a non-Federal
borrower under a contract that requires the repayment of the
funds.
``(B) Inclusions.--The term `direct loan' includes the
purchase of, or participation in, a loan made by another
lender and financing arrangements that defer payment for more
than 90 days, including the sale of a Government asset on
credit terms.
``(C) Exclusion.--The term `direct loan' does not include
the acquisition of a federally guaranteed loan in
satisfaction of default claims.
``(4) Direct loan obligation.--The term `direct loan
obligation' means a binding agreement by the Secretary to
make a direct loan when specified conditions are fulfilled by
the borrower.
``(5) Intermodal.--The term `intermodal' means of or
relating to the connection between rail service and other
modes of transportation, including all parts of facilities at
which the connection is made.
``(6) Investment-grade rating.--The term `investment-grade
rating' means a rating of BBB minus, Baa3, bbb minus,
BBB(low), or higher assigned by a rating agency.
``(7) Loan guarantee.--The term `loan guarantee' means any
guarantee, insurance, or other pledge with respect to the
payment of all or a part of the principal or interest on any
debt obligation of a non-Federal borrower to a non-Federal
lender, but does not include the insurance of deposits,
shares, or other withdrawable accounts in financial
institutions.
``(8) Loan guarantee commitment.--The term `loan guarantee
commitment' means a binding agreement by the Secretary to
make a loan guarantee when specified conditions are fulfilled
by the borrower, the lender, or any other party to the
guarantee agreement.
``(9) Master credit agreement.--The term `master credit
agreement' means an agreement to make 1 or more direct loans
or loan guarantees at future dates for a program of related
projects on terms acceptable to the Secretary.
``(10) Modification.--
``(A) In general.--The term `modification' means any
Government action that alters the estimated cost of an
outstanding direct loan (or direct loan obligation) or an
outstanding loan guarantee (or loan guarantee commitment)
from the current estimate of cash flows.
``(B) Inclusions.--The term `modification' includes--
``(i) the sale of loan assets, with or without recourse,
and the purchase of guaranteed loans; and
``(ii) any action resulting from new legislation, or from
the exercise of administrative discretion under existing law,
that directly or indirectly alters the estimated cost of
outstanding direct loans (or direct loan obligations) or loan
guarantee (or loan guarantee commitment), such as a change in
collection procedures.
``(11) Project obligation.--The term `project obligation'
means a note, bond, debenture, or other debt obligation
issued by a borrower in connection with the financing of a
project, other than a direct loan or loan guarantee under
this chapter.
``(12) Railroad.--The term `railroad' has the meaning given
the term `railroad carrier' in section 20102.
``(13) Rating agency.--The term `rating agency' means a
credit rating agency registered with the Securities and
Exchange Commission as a nationally recognized statistical
rating organization (as defined in section 3(a) of the
Securities Exchange Act of 1934 (15 U.S.C. 78c(a))).
``(14) Secretary.--The term `Secretary' means the Secretary
of Transportation.
``(15) Substantial completion.--The term `substantial
completion' means--
``(A) the opening of a project to passenger or freight
traffic; or
``(B) a comparable event, as determined by the Secretary
and specified in the terms of the direct loan or loan
guarantee.
``Sec. 22402. Direct loans and loan guarantees
``(a) General Authority.--The Secretary shall provide
direct loans and loan guarantees--
``(1) to State and local governments;
``(2) to interstate compacts consented to by Congress under
section 410(a) of the Amtrak Reform and Accountability Act of
1997 (Public Law 105-134; 49 U.S.C. 24101 note);
``(3) to government-sponsored authorities and corporations;
``(4) to railroads;
``(5) to joint ventures that include at least 1 of the
entities described in paragraph (1), (2), (3), (4), or (6);
``(6) to private entities with controlling ownership in 1
or more freight railraods other than Class 1 carriers; and
``(7) solely for the purpose of constructing a rail
connection between a plant or facility and a railroad,
limited option freight shippers that own or operate a plant
or other facility.
``(b) Eligible Purposes.--
``(1) In general.--Direct loans and loan guarantees
provided under this section shall be used to--
``(A)(i) acquire, improve, or rehabilitate intermodal or
rail equipment or facilities, including track, components of
track, civil works such as cuts and fills, bridges, yards,
buildings, and shops; and
``(ii) finance costs related to the activities described in
clause (i), including preconstruction costs;
``(B) develop or establish new intermodal or railroad
facilities;
``(C) refinance outstanding debt incurred for the purposes
described in subparagraph (A) or (B);
``(D) reimburse planning, permitting, and design expenses
relating to activities described in subparagraph (A) or (B);
or
``(E) finance economic development, including commercial
and residential development, and related infrastructure and
activities that--
``(i) incorporates private investment;
``(ii) is physically or functionally related to a passenger
rail station or multimodal station that includes rail
service;
``(iii) has a high probability of the applicant commencing
the contracting process for construction not later than 90
days after the date on which the direct loan or loan
guarantee is obligated for the project under this chapter;
and
``(iv) has a high probability of reducing the need for
financial assistance under any other Federal program for the
relevant passenger rail station or service by increasing
ridership, tenant lease payments, or other activities that
generate revenue exceeding costs.
``(2) Operating expenses not eligible.--Direct loans and
loan guarantees under this section shall not be used for
railroad operating expenses.
``(3) Sunset.--The Secretary may provide a direct loan or
loan guarantee under this section for a project described in
paragraph (1)(E) only during the 4-year period beginning on
December 4, 2015.
``(c) Priority Projects.--In granting applications for
direct loans or guaranteed loans under this section, the
Secretary shall give priority to projects that--
``(1) enhance public safety, including projects for the
installation of a positive train control system (as defined
in section 20157(i));
``(2) promote economic development;
``(3) enhance the environment;
``(4) enable United States companies to be more competitive
in international markets;
``(5) are endorsed by the plans prepared under chapter 227
of this title or section 135 of title 23 by the State or
States in which the projects are located;
``(6) improve railroad stations and passenger facilities
and increase transit-oriented development;
``(7) preserve or enhance rail or intermodal service to
small communities or rural areas;
``(8) enhance service and capacity in the national rail
system; or
``(9)(A) would materially alleviate rail capacity problems
that degrade the provision of service to shippers; and
``(B) would fulfill a need in the national transportation
system.
``(d) Extent of Authority.--
``(1) Limitation on aggregate unpaid principal amounts of
obligations.--The aggregate unpaid principal amounts of
obligations under direct loans and loan guarantees made under
this section may not exceed $35,000,000,000 at any time.
``(2) Minimum amount for freight railroads.--Of the amount
under paragraph (1), not less than $7,000,000,000 shall be
available solely for projects primarily benefitting freight
railroads other than Class I carriers.
``(3) Proportion of unused amount.--The Secretary shall not
establish any limit on the proportion of the unused amount
authorized under this subsection that may be used for 1 loan
or loan guarantee.
``(e) Rates of Interest.--
``(1) Direct loans.--The interest rate on a direct loan
under this section shall be not less than the yield on United
States Treasury securities of a similar maturity to the
maturity of the secured loan on the date of execution of the
loan agreement.
``(2) Loan guarantees.--The Secretary shall not make a loan
guarantee under this section if the interest rate for the
loan exceeds that which the Secretary determines to be
reasonable, taking into consideration the prevailing interest
rates and customary fees incurred under similar obligations
in the private capital market.
``(f) Infrastructure Partners.--
``(1) Authority of secretary.--
``(A) In general.--In lieu of or in combination with
appropriations of budget authority to cover the costs of
direct loans and loan guarantees as required under section
504(b)(1) of the Federal Credit Reform Act of 1990 (2 U.S.C.
661c(b)(1)), including the cost of a modification of a direct
loan or loan guarantee, the Secretary may accept on behalf of
an applicant for assistance under this section a commitment
from a non-Federal source, including a State or local
government or agency, or public benefit corporation or public
authority of a State or local
[[Page S2593]]
government, to fund, in whole or in part, credit risk
premiums and modification costs with respect to the loan that
is the subject of the application or modification.
``(B) Limitation.--The aggregate of appropriations of
budget authority and credit risk premiums described in this
paragraph with respect to a direct loan or loan guarantee
shall not be less than the cost of that direct loan or loan
guarantee.
``(2) Credit risk premium amount.--The Secretary shall
determine the amount required for credit risk premiums under
this subsection on the basis of--
``(A) the circumstances of the applicant, including the
amount of collateral offered, if any;
``(B) the proposed schedule of loan disbursements;
``(C) historical data on the repayment history of similar
borrowers;
``(D) consultation with the Congressional Budget Office;
and
``(E) any other factors the Secretary considers relevant.
``(3) Creditworthiness.--Upon receipt of a proposal from an
applicant for assistance under this section, the Secretary
shall accept, as a basis for determining the amount of the
credit risk premium under paragraph (2), in addition to the
value of any collateral described in paragraph (5), any of
the following :
``(A) The net present value of a future stream of State or
local subsidy income or other dedicated revenues to secure
the direct loan or loan guarantee.
``(B) Adequate coverage requirements to ensure repayment,
on a nonrecourse basis, from cash flows generated by the
project or any other dedicated revenue source, including--
``(i) tolls;
``(ii) user fees, including operating or tenant charges,
facility rents, or other fees paid by transportation service
providers or operators for access to, or the use of,
infrastructure, including rail lines, bridges, tunnels,
yards, or stations; and
``(iii) payments owing to the obligor under a public-
private partnership.
``(C) An investment-grade rating on the direct loan or loan
guarantee, as applicable, unless the total amount of the
direct loan or loan guarantee is greater than $150,000,000,
in which case the applicant shall have an investment-grade
rating from not fewer than 2 rating agencies regarding the
direct loan or loan guarantee.
``(D) A projection of freight or passenger demand for the
project based on regionally developed economic forecasts,
including projections of any modal diversion resulting from
the project.
``(4) Payment of premiums.--Credit risk premiums under this
subsection shall be paid to the Secretary before the
disbursement of loan amounts (and in the case of a
modification, before the modification is executed), to the
extent appropriations are not available to the Secretary to
meet the costs of direct loans and loan guarantees, including
costs of modifications of direct loans and loan guarantees.
``(5) Collateral.--
``(A) Types of collateral.--An applicant or infrastructure
partner may propose tangible and intangible assets as
collateral, exclusive of goodwill. The Secretary, after
evaluating each such asset--
``(i) shall accept a net liquidation value of collateral;
and
``(ii) shall consider and may accept--
``(I) the market value of collateral; or
``(II) in the case of a blanket pledge or assignment of an
entire operating asset or basket of assets as collateral, the
net liquidation value, the market value of assets, or, the
market value of the going concern, considering--
``(aa) inclusion in the pledge of all the assets necessary
for independent operational utility of the collateral,
including tangible assets such as real property, track and
structure, equipment and rolling stock, stations, systems and
maintenance facilities and intangible assets such as long-
term shipping agreements, easements, leases and access rights
such as for trackage and haulage;
``(bb) interchange commitments; and
``(cc) the value of the asset as determined through the
cost or market approaches, or the market value of the going
concern, with the latter considering discounted cash flows
for a period not to exceed the term of the direct loan or
loan guarantee.
``(B) Appraisal standards.--In evaluating appraisals of
collateral under subparagraph (A), the Secretary shall
consider--
``(i) adherence to the substance and principles of the
Uniform Standards of Professional Appraisal Practice, as
developed by the Appraisal Standards Board of the Appraisal
Foundation;
``(ii) performance of the appraisal by licensed or
certified appraisers as may be required by the State of
jurisdiction for the type of asset being appraised; and
``(iii) the qualifications of the appraisers to value the
type of collateral offered.
``(g) Prerequisites for Assistance.--The Secretary shall
not make a direct loan or loan guarantee under this section
unless the Secretary has made a written finding that--
``(1) repayment of the obligation is required to be made
within a term of the lesser of--
``(A) 35 years after the date of substantial completion of
the project; or
``(B) with regard to rail equipment or facilities with
estimated useful lives that exceed the term described in
subparagraph (A)--
``(i) 50 years after the date of substantial completion of
the project; or
``(ii) the estimated useful life of the rail equipment or
facilities to be acquired, rehabilitated, improved,
developed, or established, subject to an adequate
determination of long-term risk;
``(2) the direct loan or loan guarantee is justified by the
present and probable future demand for rail services or
intermodal facilities;
``(3) the applicant has given reasonable assurances that
the facilities or equipment to be acquired, rehabilitated,
improved, developed, or established with the proceeds of the
obligation will be economically and efficiently utilized;
``(4) the obligation can reasonably be repaid, using an
appropriate combination of credit risk premiums and
collateral offered by the applicant to protect the Federal
Government; and
``(5) the purposes of the direct loan or loan guarantee are
consistent with subsection (b).
``(h) Conditions of Assistance.--
``(1) In general.--The Secretary, before granting
assistance under this section, shall require the applicant to
agree to such terms and conditions as are sufficient, in the
judgment of the Secretary, to ensure that, as long as any
principal or interest is due and payable on the obligation,
the applicant, and any railroad or railroad partner for whose
benefit the assistance is intended--
``(A) will not use any funds or assets from railroad or
intermodal operations for purposes not related to the
operations, if the use--
``(i) would impair the ability of the applicant, railroad,
or railroad partner to provide rail or intermodal services in
an efficient and economic manner; or
``(ii) would adversely affect the ability of the applicant,
railroad, or railroad partner to perform any obligation
entered into by the applicant under this section;
``(B) will, consistent with its capital resources, maintain
its capital program, equipment, facilities, and operations on
a continuing basis; and
``(C) will not make any discretionary dividend payments
that unreasonably conflict with the purposes stated in
subsection (b).
``(2) Collateral and request for assistance from another
source not required.--
``(A) Collateral.--
``(i) In general.--The Secretary shall not require an
applicant for a direct loan or loan guarantee under this
section to provide collateral.
``(ii) Valuation.--Any collateral provided or enhanced
after being provided shall be valued as a going concern after
giving effect to the present value of improvements
contemplated by the completion and operation of the project,
if applicable.
``(B) Request for assistance from another source.--The
Secretary shall not require an applicant for a direct loan or
loan guarantee under this section to have previously sought
the financial assistance requested from another source.
``(3) Required compliance.--The Secretary shall require
recipients of direct loans or loan guarantees under this
section to comply with--
``(A) the standards of section 24312, as in effect on
September 1, 2002, with respect to the project in the same
manner that Amtrak is required to comply with the standards
for construction work financed under an agreement made under
section 24308(a); and
``(B) the protective arrangements established under section
22404, with respect to employees affected by actions taken in
connection with the project to be financed by the direct loan
or loan guarantee.
``(4) Matching funds.--The Secretary shall require each
recipient of a direct loan or loan guarantee under this
section, for a project described in subsection (b)(1)(E), to
provide a non-Federal match of not less than 25 percent of
the total amount expended by the recipient for the project.
``(i) Application Processing Procedures.--
``(1) Application status notices.--Not later than 30 days
after the date on which the Secretary receives an application
under this section, or additional information and material
under paragraph (2)(B), the Secretary shall provide the
applicant written notice as to whether the application is
complete or incomplete.
``(2) Incomplete applications.--If the Secretary determines
that an application is incomplete, the Secretary shall--
``(A) provide the applicant with a description of all of
the specific information or material that is needed to
complete the application, including any information required
by an independent financial analyst; and
``(B) allow the applicant to resubmit the application with
the information and material described under subparagraph (A)
to complete the application.
``(3) Application approvals and disapprovals.--
``(A) In general.--Not later than 45 days after the date on
which the Secretary notifies an applicant that an application
is complete under paragraph (1), the Secretary shall provide
the applicant written notice as to whether the Secretary has
approved or disapproved the application.
``(B) Actions by the office of management and budget.--In
order to enable compliance with the time limit under
subparagraph (A), the Office of Management and Budget shall
take any action required with
[[Page S2594]]
respect to the application within that 60-day period.
``(4) Streamlined application review process.--
``(A) In general.--Consistent with section 116, and not
later than 180 days after date of the enactment of the
Railroad Rehabilitation and Financing Innovation Act, the
Secretary shall make available an expedited application
process or processes at the request of applicants seeking
loans or loan guarantees.
``(B) Criteria.--Applicants seeking loans and loan
guarantees issued under this subsection shall--
``(i) seek a total loan or loan guarantee value not
exceeding $100,000,000;
``(ii) meet eligible project purposes included in
subparagraphs (A)(i), (A)(ii), and (B) of subsection (b)(1);
and
``(iii) meet other criteria considered appropriate by the
Secretary, in consultation with the Department of
Transportation Council on Credit and Finance.
``(C) Expedited credit review.--The total time between the
submission of a draft application and the approval or
disapproval of a loan or loan guarantee for an applicant
under this paragraph shall not exceed 90 days. If an
application review conducted under this paragraph exceeds 90
days, the Secretary shall--
``(i) provide written notice to the applicant, including a
justification for the delay and updated estimate of the time
needed for approval or disapproval; and
``(ii) publish the notice on the dashboard described in
paragraph (5).
``(5) Dashboard.--The Secretary shall post, on the
Department of Transportation's internet website, a monthly
report that includes, for each application--
``(A) the applicant type;
``(B) the location of the project;
``(C) a brief description of the project, including its
purpose;
``(D) the requested direct loan or loan guarantee amount;
``(E) the date on which the Secretary provided application
status notice under paragraph (1);
``(F) the date that the Secretary provided notice of
approval or disapproval under paragraph (3); and
``(G) whether the project utilized the expedited
application process under paragraph (4).
``(6) Regular creditworthiness review status reports.--
``(A) In general.--The Secretary shall provide to the
applicant a regular report containing information related to
the application for a loan or loan guarantee, including--
``(i) a summary of the proposed transaction, including--
``(I) the total value of the proposed loan or loan
guarantee;
``(II) the name of the applicant or applicants submitting
an application;
``(III) the proposed capital structure of the project to
which the loan or loan guarantee would be applied, including
the proposed Federal and non-Federal shares of the total
project cost;
``(IV) the type of activity to receive credit assistance,
including whether the project--
``(aa) is new construction or rehabilitation of existing
rail equipment or facilities;
``(bb) is a refinancing an existing loan or loan guarantee;
and
``(V) if a deferred payment is proposed, the length of such
deferment;
``(VI) the credit rating or ratings provided for the
applicant;
``(VII) if other credit instruments are involved, the
proposed subordination relationship and a description of such
other credit instruments;
``(VIII) a schedule for the readiness of proposed
investments for financing;
``(IX) a description of any Federal permits required,
including under the National Environmental Policy Act of 1969
(42 U.S.C. 4321 et seq.) and any waivers under section
5323(j) of title 49, United States Code (commonly referred to
as the `Buy America Act'); and
``(X) other characteristics of the proposed activity to be
financed, borrower, key agreements, or the nature of the
credit that the Secretary considers to be fundamental to the
creditworthiness review;
``(ii) the status of the application in the pre-application
review and selection process;
``(iii) the cumulative amounts paid by the Secretary to
outside advisors related to the application, including
financial and legal advisors;
``(iv) a description of the key rating factors used by the
Secretary to determine credit risk, including--
``(I) the qualitative and quantitative factors used to
determine risk for the proposed application;
``(II) an adjectival risk rating for each identified
factor, ranked as either low, moderate, or high; and
``(v) a nonbinding estimate of the credit risk premium,
which may be in the form of--
``(I) a range, based on the assessment of risk factors
described in clause (iv); or
``(II) a justification for why the estimate of the credit
risk premium cannot be determined based on available
information; and
``(vi) a description of key information the Secretary needs
from the applicant to complete the credit review process and
make a final determination of the credit risk premium.
``(B) Report.--The Secretary shall submit the report
described in subparagraph (A) not less frequently than every
45 days after the date on which the Secretary presents the
first request to the applicant for funding to pay fees for
advisors described in subparagraph (A)(iii).
``(C) Exception.--The report required under this paragraph
shall not be applied to applications processed using the
expedited credit review process under paragraph (5)(B).
``(j) Repayment Schedules.--
``(1) In general.--The Secretary shall establish a
repayment schedule requiring payments to commence not later
than 5 years after the date of substantial completion.
``(2) Accrual.--Interest shall accrue as of the date of
disbursement, and shall be amortized over the remaining term
of the loan, beginning at the time the payments begin.
``(3) Deferred payments.--
``(A) In general.--If, at any time the date of substantial
completion, the obligor is unable to pay the scheduled loan
repayments of principal and interest on a direct loan
provided under this section, the Secretary, subject to
subparagraph (B), may allow, for a maximum aggregate time of
1 year over the duration of the direct loan, the obligor to
add unpaid principal and interest to the outstanding balance
of the direct loan.
``(B) Interest.--A payment deferred under subparagraph (A)
shall--
``(i) continue to accrue interest under paragraph (2) until
the loan is fully repaid; and
``(ii) be scheduled to be amortized over the remaining term
of the loan.
``(4) Prepayments.--
``(A) Use of excess revenues.--With respect to a direct
loan provided by the Secretary under this section, any excess
revenues that remain after satisfying scheduled debt service
requirements on the project obligations and direct loan and
all deposit requirements under the terms of any trust
agreement, bond resolution, or similar agreement securing
project obligations may be applied annually to prepay the
direct loan without penalty.
``(B) Use of proceeds of refinancing.--The direct loan may
be prepaid at any time without penalty from the proceeds of
refinancing from non-Federal funding sources.
``(k) Sale of Direct Loans.--
``(1) In general.--Subject to paragraph (2) and as soon as
practicable after substantial completion of a project, the
Secretary, after notifying the obligor, may sell to another
entity or reoffer into the capital markets a direct loan for
the project if the Secretary determines that the sale or
reoffering has a high probability of being made on favorable
terms.
``(2) Consent of obligor.--In making a sale or reoffering
under paragraph (1), the Secretary shall not change the
original terms and conditions of the secured loan without the
prior written consent of the obligor.
``(l) Nonsubordination.--
``(1) In general.--Except as provided in paragraph (2), a
direct loan provided by the Secretary under this section
shall not be subordinated to the claims of any holder of
project obligations in the event of bankruptcy, insolvency,
or liquidation of the obligor.
``(2) Preexisting indentures.--
``(A) In general.--The Secretary may waive the requirement
under paragraph (1) for a public agency borrower that is
financing ongoing capital programs and has outstanding senior
bonds under a preexisting indenture if--
``(i) the direct loan is rated in the A category or higher;
``(ii) the direct loan is secured and payable from pledged
revenues not affected by project performance, such as a tax-
based revenue pledge or a system-backed pledge of project
revenues; and
``(iii) the program share, under this chapter, of eligible
project costs is 50 percent or less.
``(B) Limitation.--The Secretary may impose limitations for
the waiver of the nonsubordination requirement under this
paragraph if the Secretary determines that the limitations
would be in the financial interest of the Federal Government.
``(m) Master Credit Agreements.--
``(1) In general.--Subject to paragraph (2) and to
subsection (d), the Secretary may enter into a master credit
agreement that is contingent on all of the conditions for the
provision of a direct loan or loan guarantee, as applicable,
under this chapter and other applicable requirements being
satisfied prior to the issuance of the direct loan or loan
guarantee.
``(2) Conditions.--Each master credit agreement shall--
``(A) establish the maximum amount and general terms and
conditions of each applicable direct loan or loan guarantee;
``(B) identify 1 or more dedicated non-Federal revenue
sources that will secure the repayment of each applicable
direct loan or loan guarantee;
``(C) provide for the obligation of funds--
``(i) for the direct loans or loan guarantees contingent on
the meeting of all applicable requirements and after all
requirements have been met, for the projects subject to the
master credit agreement; and
``(D) provide 1 or more dates, as determined by the
Secretary, before which the master credit agreement results
in the disbursement issuance of each of the direct loans or
loan guarantees or in the release of the master credit
agreement.
``Sec. 22403. Administration of direct loans and loan
guarantees
``(a) Applications.--
[[Page S2595]]
``(1) In general.--The Secretary shall prescribe the form
and contents required of applications for assistance under
section 22402, to enable the Secretary to determine the
eligibility of the applicant's proposal, and shall establish
terms and conditions for direct loans and loan guarantees
made under that section, including a program guide, a
standard term sheet, and specific timetables.
``(2) Documentation.--An applicant meeting the size
standard for small business concerns established under
section 3(a)(2) of the Small Business Act (15 U.S.C.
632(a)(2)) may provide unaudited financial statements as
documentation of historical financial information if such
statements are accompanied by the applicant's Federal tax
returns and Internal Revenue Service tax verifications for
the corresponding years.
``(b) Full Faith and Credit.--All guarantees entered into
by the Secretary under section 22402 shall constitute general
obligations of the United States of America and shall be
backed by the full faith and credit of the United States of
America.
``(c) Assignment of Loan Guarantees.--The holder of a loan
guarantee made under section 22402 may assign the loan
guarantee in whole or in part, subject to such requirements
as the Secretary may prescribe.
``(d) Modifications.--The Secretary may approve the
modification of any term or condition of a direct loan, loan
guarantee, direct loan obligation, or loan guarantee
commitment, including the rate of interest, time of payment
of interest or principal, or security requirements, if the
Secretary finds in writing that--
``(1) the modification is equitable and is in the overall
best interests of the United States;
``(2) consent has been obtained from the applicant and in
the case of a loan guarantee or loan guarantee commitment,
the holder of the obligation; and
``(3) the modification cost has been covered under section
22402(f).
``(e) Compliance.--The Secretary shall ensure compliance by
an applicant, any other party to the loan, and any railroad
or railroad partner for whose benefit assistance is intended,
with the provisions of this chapter, regulations issued under
this chapter, and the terms and conditions of the direct loan
or loan guarantee, including through regular periodic
inspections.
``(f) Commercial Validity.--
``(1) In general.--For purposes of claims by any party
other than the Secretary, a loan guarantee or loan guarantee
commitment shall be conclusive evidence that the underlying
obligation is in compliance with the provisions of this
chapter, and that the obligation has been approved and is
legal as to principal, interest, and other terms.
``(2) Valid and incontestable.--A guarantee or commitment
under paragraph (1) shall be valid and incontestable in the
hands of a holder of the guarantee or commitment, including
the original lender or any other holder, as of the date when
the Secretary granted the application for the guarantee or
commitment, except as to fraud or material misrepresentation
by the holder.
``(g) Default.--
``(1) In general.--The Secretary shall prescribe
regulations setting forth procedures in the event of default
on a loan made or guaranteed under section 22402.
``(2) Loan guarantees.--The Secretary shall ensure that
each loan guarantee made under section 22402 contains terms
and conditions that provide that--
``(A) if a payment of principal or interest under the loan
is in default for more than 30 days, the Secretary shall pay
to the holder of the obligation, or the holder's agent, the
amount of unpaid guaranteed interest;
``(B) if the default has continued for more than 90 days,
the Secretary shall pay to the holder of the obligation, or
the holder's agent, 90 percent of the unpaid guaranteed
principal;
``(C) after final resolution of the default, through
liquidation or otherwise, the Secretary shall pay to the
holder of the obligation, or the holder's agent, any
remaining amounts guaranteed but that were not recovered
through the default's resolution;
``(D) the Secretary shall not be required to make any
payment under subparagraphs (A) through (C) if the Secretary
finds, before the expiration of the periods described in such
subparagraphs, that the default has been remedied; and
``(E) the holder of the obligation shall not receive
payment or be entitled to retain payment in a total amount
that, together with all other recoveries (including any
recovery based upon a security interest in equipment or
facilities) exceeds the actual loss of the holder.
``(h) Rights of the Secretary.--
``(1) Subrogation.--If the Secretary makes payment to a
holder, or a holder's agent, under subsection (g) in
connection with a loan guarantee made under section 22402,
the Secretary shall be subrogated to all of the rights of the
holder with respect to the obligor under the loan.
``(2) Disposition of property.--The Secretary may complete,
recondition, reconstruct, renovate, repair, maintain,
operate, charter, rent, sell, or otherwise dispose of any
property or other interests obtained pursuant to this
section. The Secretary shall not be subject to any Federal or
State regulatory requirements when carrying out this
paragraph.
``(i) Action Against Obligor.--
``(1) In general.--The Secretary may bring a civil action
in an appropriate Federal court in the name of the United
States in the event of a default on a direct loan made under
section 22402 or in the name of the United States or of the
holder of the obligation in the event of a default on a loan
guaranteed under section 22402.
``(2) Records and evidence.--The holder of a guarantee
shall make available to the Secretary all records and
evidence necessary to prosecute the civil action.
``(3) Property as satisfaction of sums owed.--The Secretary
may accept property in full or partial satisfaction of any
sums owed as a result of a default.
``(4) Excess amount.--
``(A) Payment to obligor.--If the Secretary receives,
through the sale or other disposition of the property
described in paragraph (3), an excess amount described in
subparagraph (B), the Secretary shall pay to the obligor the
excess amount.
``(B) Amount.--An excess amount under this subparagraph is
an amount the exceeds the aggregate of--
``(i) the amount paid to the holder of a guarantee under
subsection (g); and
``(ii) any other cost to the United States of remedying the
default.
``(j) Breach of Conditions.--The Attorney General shall
commence a civil action in an appropriate Federal court to
enjoin any activity that the Secretary finds is in violation
of this chapter, regulations issued under this chapter, or
any conditions that were agreed to, and to secure any other
appropriate relief.
``(k) Attachment.--No attachment or execution may be issued
against the Secretary, or any property in the control of the
Secretary, prior to the entry of final judgment to that
effect in any Federal, State, or other court.
``(l) Charges and Loan Servicing.--
``(1) Purposes.--The Secretary may collect from each
applicant, obligor, or loan party a reasonable charge for--
``(A) the cost of evaluating the application, amendments,
modifications, and waivers, including for evaluating project
viability, applicant creditworthiness, and the appraisal of
the value of the equipment or facilities for which the direct
loan or loan guarantee is sought, and for making necessary
determinations and findings;
``(B) to cost of award management and project management
oversight;
``(C) the cost of services from expert firms, including
counsel, and independent financial advisors to assist in the
underwriting, auditing, servicing, and exercise of rights
with respect to direct loans and loan guarantees; and
``(D) the cost of all other expenses incurred as a result
of a breach of any term or condition or any event of default
on a direct loan or loan guarantee.
``(2) Charge different amounts.--The Secretary may charge
different amounts under this subsection based on the
different costs incurred under paragraph (1).
``(3) Servicer.--
``(A) In general.--The Secretary may appoint a financial
entity to assist the Secretary in servicing a direct loan or
loan guarantee under this chapter.
``(B) Duties.--A servicer appointed under subparagraph (A)
shall act as the agent of the Secretary in servicing a direct
loan or loan guarantee under this chapter.
``(C) Fees.--A servicer appointed under subparagraph (A)
shall receive a servicing fee from the obligor or other loan
party, subject to approval by the Secretary.
``(4) National surface transportation and innovative
finance bureau account.--Amounts collected under this
subsection shall--
``(A) be credited directly to the National Surface
Transportation and Innovative Finance Bureau Account; and
``(B) remain available until expended to pay for the costs
described in this subsection.
``(m) Fees and Charges.--Except as provided in this
chapter, the Secretary may not assess fees, including user
fees, or charges in connection with a direct loan or loan
guarantee provided under section 22402.
``Sec. 22404. Employee protection
``(a) In General.--
``(1) Fair and equitable arrangements.--Fair and equitable
arrangements shall be provided, in accordance with this
section, to protect the interests of any employees who may be
affected by actions taken pursuant to authorizations or
approval obtained under this chapter.
``(2) Arrangements by agreements.--The arrangements under
paragraph (1) shall be determined by the execution of an
agreement between the representatives of the railroads and
the representatives of their employees not later than June 4,
1976.
``(3) Prescribed arrangements.--In the absence of an
executed agreement under paragraph (2), the Secretary of
Labor shall prescribe the applicable protective arrangements
not later than July 4, 1976.
``(b) Terms.--
``(1) Applicability to existing employees.--The
arrangements required under subsection (a) shall apply to
each employee who has an employment relationship with a
railroad on the date on which the railroad first applies for
financial assistance under this chapter.
``(2) Inclusions.--Such arrangements shall include such
provisions as may be necessary
[[Page S2596]]
for the negotiation and execution of agreements as to the
manner in which the protective arrangements shall be applied,
including notice requirements.
``(3) Execution prior to implementation of work.--The
agreements shall be executed prior to implementation of work
funded from financial assistance under this chapter.
``(4) Arbitration.--
``(A) In general.--If an agreement described in subsection
(a)(2) is not reached within 30 days after the date on which
an application for the assistance is approved, either party
to the dispute may submit the issue for final and binding
arbitration.
``(B) Decision.--
``(i) When decision is to be rendered.--The decision on any
arbitration under this paragraph shall be rendered within 30
days after the submission.
``(ii) Effect.--The arbitration decision--
``(I) shall not modify the protection afforded in the
protective arrangements established pursuant to this section;
``(II) shall be final and binding on the parties to the
arbitration; and
``(III) shall become a part of the agreement.
``(5) Other inclusions.--The arrangements shall also
include such provisions as may be necessary--
``(A) for the preservation of compensation (including
subsequent general wage increases, vacation allowances, and
monthly compensation guarantees), right, privileges, and
benefits (including fringe benefits such as pensions,
hospitalization, and vacations, under the same conditions and
so long as the benefits continue to be accorded to other
employees of the employing railroad in active service or on
furlough, as the case may be) to the employees under existing
collective-bargaining agreements or otherwise;
``(B) to provide for final and binding arbitration of any
dispute that cannot be settled by the parties with respect to
the interpretation, application, or enforcement of the
provisions of the protective arrangements;
``(C) to provide that an employee who is unable to secure
employment by the exercise of the employee's seniority
rights, as a result of actions taken with financial
assistance obtained under this chapter, shall be offered
reassignment and, where necessary, retraining to fill a
position comparable to the position held at the time of the
adverse effect and for which the employee is, or by training
and retraining can become, physically and mentally qualified,
so long as the offer is not in contravention of collective
bargaining agreements relating to the provisions in this
paragraph; and
``(D) to provide that the protection afforded pursuant to
this section shall not be applicable to employees benefitted
solely as a result of the work that is financed by funds
provided pursuant to this chapter.
``(c) Subcontracting.--The arrangements that are required
to be negotiated by the parties or prescribed by the
Secretary of Labor, pursuant to subsections (a) and (b),
shall include provisions regulating subcontracting by the
railroads of work that is financed by funds provided pursuant
to this chapter.
``Sec. 22405. Substantive criteria and standards
``The Secretary shall publish in the Federal Register and
post on the Department of Transportation website the
substantive criteria and standards used by the Secretary to
determine whether to approve or disapprove applications
submitted under section 22404. The Secretary shall ensure
adequate procedures and guidelines are in place to permit the
filing of complete applications within 30 days of the
publication.
``Sec. 22406. Funding
``(a) Authorization of Appropriations.--
``(1) In general.--There are authorized to be appropriated
out of the General Fund for credit assistance under this
chapter--
``(A) $30,000,000 for fiscal year 2021;
``(B) $31,000,000 for fiscal year 2022;
``(C) $32,000,000 for fiscal year 2023;
``(D) $33,000,000 for fiscal year 2024; and
``(E) $34,000,000 for fiscal year 2025.
``(2) Availability.--Amounts appropriated pursuant to this
subsection shall remain available until expended.
``(b) Use of Funds.--
``(1) In general.--Except as provided in paragraph (2),
amounts appropriated pursuant to this section shall be used
for loans and loan guarantees with a total value of not more
than $200,000,000.
``(2) Administrative costs.--In each fiscal year, not less
than $3,000,000 of the amounts appropriated pursuant to
subsection (a) shall be made available for the Secretary for
use in lieu of charges collected under section 22403(l)(1)
for freight railroads other than Class I carriers and
passenger railroads.
``(3) Short line set-aside.--In each fiscal year, not less
than 50 percent of the amounts appropriated pursuant to
subsection (a) that remain available after the set aside
described in paragraph (2) shall be set aside for freight
railroads other than Class I carriers.
``(4) Passenger rail set-aside.--Any amounts appropriated
pursuant to subsection (a) that remain available after the
set-asides described in paragraphs (2) and (3) shall be set
aside for passenger railroads.''.
(b) Clerical Amendment.--The table of chapters for title
49, United States Code, is amended by inserting after the
item relating to chapter 223 the following:
``Chapter 224--Railroad Rehabilitation and Improvement Financing
Program''.
SEC. 3. CONFORMING AMENDMENTS.
(a) National Trails System Act.--Section 8(d) of the
National Trails System Act (16 U.S.C. 1247(d)) is amended by
inserting ``(45 U.S.C. 801 et seq.) and chapter 224 of title
49, United States Code'' after ``1976''.
(b) Passenger Rail Reform and Investment Act.--Section
11315(c) of the Passenger Rail Reform and Investment Act of
2015 (23 U.S.C. 322 note; Public Law 114-94) is amended by
striking ``sections 502 and 503 of the Railroad
Revitalization and Regulatory Reform Act of 1976'' and
inserting ``sections 22402 and 22403 of title 49, United
States Code''.
(c) Provisions Classified in Title 45, United States
Code.--
(1) Section 101 of the Railroad Revitalization and
Regulatory Reform Act of 1976 (45 U.S.C. 801) is amended--
(A) in subsection (a), in the matter preceding paragraph
(1), by striking ``It is the purpose of the Congress in this
Act to'' and inserting ``The purpose of this Act and chapter
224 of subtitle V of title 49, United States Code, is to'';
and
(B) in subsection (b), in the matter preceding paragraph
(1), by striking ``It is declared to be the policy of the
Congress in this Act'' and inserting ``The policy of this Act
and chapter 224 of title 49, United States Code, is''.
(2) Section 11607(b) of the Railroad Infrastructure
Financing Improvement Act (Public Law 114-94; 45 U.S.C. 821
note) is amended by striking ``All provisions under sections
502 through 504 of the Railroad Revitalization and Regulatory
Reform Act of 1976 (45 U.S.C. 8301 et seq.)'' and inserting
``All provisions under section 22404 through 22404 of title
49, United States Code,''.
(3) Section 11610(b) of the Railroad Infrastructure
Financing Improvement Act (Public Law 114-94; 45 U.S.C. 821
note) is amended by striking ``section 502(f) of the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C.
822(f)), as amended by section 11607 of this Act'' and
inserting ``section 22402(f) of title 49, United States
Code''.
(4) Section 7203(b)(2) of the Transportation Equity Act for
the 21st Century (Public Law 105-178; 45 U.S.C. 821 note) is
amended by striking ``title V of the Railroad Revitalization
and Regulatory Reform Act of 1976 (45 U.S.C. 821 et seq.)''
and inserting ``chapter 224 of title 49, United States
Code,''.
(5) Section 212(d)(1) of Hamm Alert Maritime Safety Act of
2018 (title II of Public Law 115-265; 45 U.S.C. 822 note) is
amended, in the matter preceding subparagraph (A), by
striking ``for purposes of section 502(f)(4) of the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C.
822(f)(4))'' and inserting ``for purposes of section 22402 of
title 49, United States Code''.
(6) Section 15(f) of the Milwaukee Railroad Restructuring
Act (45 U.S.C. 914(f)) is amended by striking ``Section 516
of the Railroad Revitalization and Regulatory Reform Act of
1976 (45 U.S.C. 836)'' and inserting ``Section 22404 of title
49, United States Code,''.
(7) Section 104(b) of the Rock Island Railroad Transition
and Employee Assistance Act (45 U.S.C. 1003(b)) is amended--
(A) in paragraph (1), by striking ``title V of the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C.
821 et seq.)'' and inserting ``chapter 224 of title 49,
United States Code,''; and
(B) in paragraph (2), by striking ``title V of the Railroad
Revitalization and Regulatory Reform Act of 1976, and section
516 of such Act (45 U.S.C. 836)'' and inserting ``chapter 224
of title 49, United States Code, and section 22404 of title
49, United States Code,''.
(8) Section 104(b)(2) of the Rock Island Railroad
Transition and Employee Assistance Act (45 U.S.C. 1003(b)(2))
is amended by striking ``title V of the Railroad
Revitalization and Regulatory Reform Act of 1976, and section
516 of such Act (45 U.S.C. 836)'' and inserting ``chapter 224
of title 49, United States Code, and section 22404 of such
title 49,''.
(d) Title 49.--
(1) Section 116(d)(1)(B) of title 49, United States Code,
is amended by striking ``sections 501 through 503 of the
Railroad Revitalization and Regulatory Reform Act of 1976 (45
U.S.C. 821-823)'' and inserting ``sections 22401 through
22403 of this title''.
(2) Section 306(b) of title 49, United States Code, is
amended--
(A) by striking ``chapter 221 or 249 of this title,'' and
inserting ``chapter 221, 224, or 249 of this title,''; and
(B) by striking ``, or title V of the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C.
821 et seq.)''.
(3) Section 11311(d) of the Passenger Rail Reform and
Investment Act of 2015 (Public Law 114-94; 49 U.S.C. 20101
note) is amended by striking ``, and section 502 of the
Railroad Revitalization and Regulatory Reform Act of 1976 (45
U.S.C. 822)''.
(4) Section 205(g) of the Passenger Rail Investment and
Improvement Act of 2008 (division B of Public Law 110-432; 49
U.S.C. 24101 note) is amended by striking ``title V of the
Railroad Revitalization and Regulatory Reform Act of 1976 (45
U.S.C. 821 et seq.)'' and inserting ``chapter 224 of title
49, United States Code''.
(5) Section 22905(c)(2)(B) of title 49, United States Code,
is amended by striking ``section 504 of the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C.
836)'' and inserting ``section 22404 of this title''.
(6) Section 24903 of title 49, United States Code, is
amended--
(A) in subsection (a)(6), by striking ``and the Railroad
Revitalization and Regulatory
[[Page S2597]]
Reform Act of 1976 (45 U.S.C. 801 et seq.)'' and inserting
``, the Railroad Revitalization and Regulatory Reform Act of
1976 (45 U.S.C. 801 et seq.), and chapter 224 of this
title''; and
(B) in subsection (c)(2), by striking ``and the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C.
801 et seq.)'' and inserting ``, the Railroad Revitalization
and Regulatory Reform Act of 1976 (45 U.S.C. 801 et seq.),
and chapter 224 of this title''.
SEC. 4. TRANSITIONAL AND SAVINGS PROVISIONS.
(a) Definitions.--In this section:
(1) Restated provision.--The term ``restated provision''
means a provision of chapter 224 of title 49, United States
Code, as added by section 2.
(2) Source provision.--The term ``source provision'' means
a provision of law that is replaced by a restated provision.
(b) Cutoff Date.--
(1) In general.--The restated provisions replace certain
source provisions enacted on or before March 12, 2019.
(2) Subsequent amendments and repeals.--If a law enacted
after March 12, 2019 amends or repeals a source provision,
that law is deemed to amend or repeal, as the case may be,
the corresponding restated provision. If a law enacted after
March 12, 2019 is otherwise inconsistent with a restated
provision of this Act, that law supersedes the restated
provision of this Act to the extent of the inconsistency.
(c) Original Date of Enactment Unchanged.--A restated
provision is deemed to have been enacted on the date of
enactment of the corresponding source provision.
(d) References to Restated Provisions.--A reference to a
restated provision is deemed to refer to the corresponding
source provision.
(e) References to Source Provisions.--A reference to a
source provision, including a reference in a regulation,
order, or other law, is deemed to refer to the corresponding
restated provision.
(f) Regulations, Orders, and Other Administrative
Actions.--A regulation, order, or other administrative action
in effect under a source provision continues in effect under
the corresponding restated provision.
(g) Actions Taken and Offenses Committed.--An action taken
or an offense committed under a source provision is deemed to
have been taken or committed under the corresponding restated
provision.
SEC. 5. REPEALS.
The following provisions of law are repealed, except with
respect to rights and duties that matured, penalties that
were incurred, or proceedings that were begun before the date
of enactment of this Act:
Schedule of Laws Repealed
------------------------------------------------------------------------
United States Code
Act Section Former
Classification
------------------------------------------------------------------------
Railroad Revitalization and 501............... 45 U.S.C. 821.
Regulatory Reform Act of 1976
(Public Law 94-210).
502............... 45 U.S.C. 822.
503............... 45 U.S.C. 823.
504............... 45 U.S.C. 836.
Safe, Accountable, Flexible, 9003(j)........... 45 U.S.C. 822
Efficient Transportation Equity note.
Act: A Legacy for Users or
SAFETEA-LU (Public Law 109-59).
------------------------------------------------------------------------
______
By Mr. SCHUMER (for himself and Mr. Young):
S. 3832. A bill to establish a new Directorate for Technology in the
redesignated National Science and Technology Foundation, to establish a
regional technology hub program, to require a strategy and report on
economic security, science, research, and innovation, and for other
purposes; to the Committee on Health, Education, Labor, and Pensions.
Mr. SCHUMER. Mr. President, I ask unanimous consent that the text of
the bill be printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 3832
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 ``Endless Frontier Act''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) For over 70 years, the United States has been the
unequivocal global leader in scientific and technological
innovation, and as a result the people of the United States
have benefitted through good-paying jobs, economic
prosperity, and a higher quality of life. Today, however,
this leadership position is being eroded and challenged by
foreign competitors, some of whom are stealing intellectual
property and trade secrets of the United States and
aggressively investing in fundamental research and
commercialization to dominate the key technology fields of
the future. While the United States once led the world in the
share of our economy invested in research, our Nation now
ranks 9th globally in total research and development and 12th
in publicly financed research and development.
(2) Without a significant increase in investment in
research, education, technology transfer, and the core
strengths of the United States innovation ecosystem, it is
only a matter of time before the global competitors of the
United States overtake the United States in terms of
technological primacy. The country that wins the race in key
technologies--such as artificial intelligence, quantum
computing, advanced communications, and advanced
manufacturing--will be the superpower of the future.
(3) The Federal Government must catalyze United States
innovation by boosting fundamental research investments
focused on discovering, creating, commercializing, and
producing new technologies to ensure the leadership of the
United States in the industries of the future.
(4) The distribution of innovation jobs and investment in
the United States has become largely concentrated in just a
few locations, while much of the Nation has been left out of
growth in the innovation sector. More than 90 percent of the
Nation's innovation sector employment growth in the last 15
years was generated in just 5 major cities. The Federal
Government must address this imbalance in opportunity by
partnering with the private sector to build new technology
hubs across the country, spreading innovation sector jobs
more broadly, and tapping the talent and potential of the
entire Nation to ensure the United States leads the
industries of the future.
(5) Since its inception, the National Science Foundation
has carried out vital work supporting basic research and
people to create knowledge that is a primary driver of the
economy of the United States and enhances the Nation's
security.
SEC. 3. NATIONAL SCIENCE AND TECHNOLOGY FOUNDATION.
(a) Redesignation of National Science Foundation as
National Science and Technology Foundation.--
(1) In general.--Section 2 of the Act of May 10, 1950 (64
Stat. 149, chapter 171; 42 U.S.C. 1861) is amended--
(A) in the section heading, by inserting ``and technology''
after ``science''; and
(B) by striking ``the National Science Foundation'' and
inserting ``the National Science and Technology Foundation''.
(2) References.--Any reference in any law, rule,
regulation, certificate, directive, instruction, or other
official paper in force on the date of enactment of this Act
to the National Science Foundation shall be considered to
refer and apply to the National Science and Technology
Foundation.
(b) Establishment of Deputy Director for Technology.--
Section 6 of the Act of May 10, 1950 (64 Stat. 149, chapter
171; 42 U.S.C. 1864a) is amended--
(1) in the section heading, by striking ``deputy director''
and inserting ``deputy directors'';
(2) in the first sentence--
(A) by striking ``a Deputy Director'' and inserting ``2
Deputy Directors''; and
(B) by inserting ``and in accordance with the expedited
procedures established under S. Res. 116 (112th Congress)''
after ``the Senate'';
(3) in the third sentence, by striking ``The Deputy
Director shall receive'' and inserting ``Each Deputy Director
shall receive'';
(4) by inserting after the third sentence the following:
``The Deputy Director for Technology shall oversee, and
perform duties relating to, the Directorate for Technology of
the Foundation, as established under section 8A, and the
Deputy Director for Science shall oversee, and perform duties
relating to, the other activities and directorates supported
by the Foundation.''; and
(5) in the last sentence, by striking ``The Deputy Director
shall act'' and inserting ``The Deputy Director for Science
shall act''.
(c) Establishment of Directorate for Technology.--The Act
of May 10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C. 1861 et
seq.) is amended--
(1) in section 8 (42 U.S.C. 1866), by inserting at the end
the following: ``Such divisions shall include the Directorate
for Technology established under section 8A.''; and
(2) by inserting after section 8 the following:
``SEC. 8A. DIRECTORATE FOR TECHNOLOGY.
``(a) Definitions.--In this section:
[[Page S2598]]
``(1) Deputy director.--The term `Deputy Director' means
the Deputy Director for Technology.
``(2) Designated country.--The term `designated country'
means a country that has been approved and designated in
writing by the President for purposes of this section, after
providing--
``(A) not less than 30 days of advance notification and
explanation to the relevant congressional committees before
the designation; and
``(B) in-person briefings to such committees, if requested
during the 30-day advance notification period described in
subparagraph (A).
``(3) Directorate.--The term `Directorate' means the
Directorate for Technology established under subsection (b).
``(4) Institution of higher education.--The term
`institution of higher education' has the meaning given the
term in section 101(a) of the Higher Education Act of 1965
(20 U.S.C. 1001(a)).
``(5) Key technology focus areas.--The term `key technology
focus areas' means the areas included on the most recent list
under subsection (c)(2).
``(6) Relevant congressional committees.--The term
`relevant congressional committees' means--
``(A) the Committee on Armed Services, the Committee on
Commerce, Science, and Transportation, the Committee on
Appropriations, the Committee on Foreign Relations, and the
Select Committee on Intelligence of the Senate; and
``(B) the Committee on Armed Services, the Committee on
Science, Space, and Technology, the Committee on
Appropriations, the Committee on Foreign Affairs, and the
Permanent Select Committee on Intelligence of the House of
Representatives.
``(b) Establishment.--
``(1) In general.--Not later than 90 days after the date of
enactment of the Endless Frontier Act, the Director shall
establish in the Foundation a Directorate for Technology. The
Directorate shall carry out the duties and responsibilities
described in this section, in order to further the following
goals:
``(A) Strengthening the leadership of the United States in
critical technologies through fundamental research in the key
technology focus areas.
``(B) Enhancing the competitiveness of the United States in
the key technology focus areas by improving education in the
key technology focus areas and attracting more students to
such areas.
``(C) Consistent with the operations of the Foundation,
fostering the economic and societal impact of federally
funded research and development through an accelerated
translation of fundamental advances in the key technology
focus areas into processes and products that can help achieve
national goals related to economic competitiveness, domestic
manufacturing, national security, shared prosperity, energy
and the environment, health, education and workforce
development, and transportation.
``(2) Deputy director.--The Directorate shall be headed by
the Deputy Director.
``(3) Organization and administrative matters.--
``(A) Hiring authority.--
``(i) Experts in science and engineering.--The Director
shall have the authority to carry out a program of personnel
management authority for the Directorate in the same manner,
and subject to the same requirements, as the program of
personnel management authority authorized for the Director of
the Defense Advanced Research Projects Agency under section
1599h of title 10, United States Code, for the Defense
Advanced Research Projects Agency.
``(ii) Highly qualified experts in needed occupations.--In
addition to the authority provided under clause (i), the
Director shall have the authority to carry out a program of
personnel management authority for the Directorate in the
same manner, and subject to the same requirements, as the
program to attract highly qualified experts carried out by
the Secretary of Defense under section 9903 of title 5,
United States Code.
``(iii) Additional hiring authority.--To the extent needed
to carry out the duties in paragraph (1), the Director shall
utilize hiring authorities under section 3372 of title 5,
United States Code, to staff the Directorate with employees
from other Federal agencies, State and local governments,
Indian tribes and tribal organizations, institutions of
higher education, and other organizations, as described in
that section, in the same manner and subject to the same
conditions, that apply to such individuals utilized to
accomplish other missions of the Foundation.
``(B) Program managers.--The employees of the Directorate
may include program managers for the key technology focus
areas, who shall perform a role similar to programs managers
employed by the Defense Advanced Research Projects Agency for
the oversight and selection of programs supported by the
Directorate.
``(C) Selection of recipients.--Recipients of support under
the programs and activities of the Directorate shall be
selected by program managers or other employees of the
Directorate. The Directorate may use a peer review process to
inform the decisions of program managers or other employees.
``(D) Assistant directors.--The Director may appoint 1 or
more Assistant Directors for the Directorate as the Director
determines necessary, in the same manner as other Assistant
Directors of the Foundation are appointed.
``(4) Report.--Not later than 120 days after the date of
enactment of the Endless Frontier Act, the Director shall
prepare and submit a report to the relevant congressional
committees regarding the establishment of the Directorate.
``(c) Duties and Functions of the Directorate.--
``(1) Development of technology focus of the directorate.--
The Director, acting through the Deputy Director, shall--
``(A) advance innovation in the key technology focus areas
through fundamental research and other activities described
in this section; and
``(B) develop and implement strategies to ensure that the
activities of the Directorate are directed toward the key
technology focus areas in order to accomplish the goals
described in subparagraphs (A) through (C) of subsection
(b)(1) consistent with the most recent report conducted under
section 5(b) of the Endless Frontier Act.
``(2) Key technology focus areas.--
``(A) Initial list.--The initial key technology focus areas
are--
``(i) artificial intelligence and machine learning;
``(ii) high performance computing, semiconductors, and
advanced computer hardware;
``(iii) quantum computing and information systems;
``(iv) robotics, automation, and advanced manufacturing;
``(v) natural or anthropogenic disaster prevention;
``(vi) advanced communications technology;
``(vii) biotechnology, genomics, and synthetic biology;
``(viii) cybersecurity, data storage, and data management
technologies;
``(ix) advanced energy; and
``(x) materials science, engineering, and exploration
relevant to the other key technology focus areas described in
this subparagraph.
``(B) Review of key technology focus areas and subsequent
lists.--
``(i) Adding or deleting key technology focus areas.--
Beginning on the date that is 4 years after the date of
enactment of the Endless Frontier Act, and every 4 years
thereafter, the Director, acting through the Deputy
Director--
``(I) shall, in consultation with the Board of Advisors,
review the list of key technology focus areas; and
``(II) as part of that review, may add or delete key
technology focus areas if the competitive threats to the
United States have shifted (whether because the United States
or other nations have advanced or fallen behind in a
technological area), subject to clause (ii).
``(ii) Limit on key technology focus areas.--Not more than
10 key technology focus areas shall be included on the list
of key technology focus areas at any time.
``(iii) Updating focus areas and distribution.--Upon the
completion of each review under this subparagraph, the
Director shall make the list of key technology focus areas
readily available and publish the list in the Federal
Register, even if no changes have been made to the prior
list.
``(3) Activities.--
``(A) In general.--In carrying out the duties and functions
of the Directorate, the Director, acting through the Deputy
Director, may--
``(i) award grants, cooperative agreements, and contracts
to--
``(I) individual institutions of higher education for work
at centers or by individual researchers;
``(II) not-for-profit entities; and
``(III) consortia that--
``(aa) shall include and be led by an institution of higher
education, and may include 1 or more additional institutions
of higher education;
``(bb) may include 1 or more entities described in
subclause (I) or (II) and, if determined appropriate by the
Director, for-profit entities, including small businesses;
and
``(cc) may include 1 or more entities described in
subclause (I) or (II) from treaty allies and security
partners of the United States;
``(ii) provide funds to other divisions of the Foundation,
including--
``(I) to the other directorates of the Foundation to pursue
basic questions about natural and physical phenomena that
could enable advances in the key technology focus areas;
``(II) to the Directorate for Social, Behavioral, and
Economic Sciences to study questions that could affect the
design, operation, deployment, or the social and ethical
consequences of technologies in the key technology focus
areas; and
``(III) to the Directorate for Education and Human
Resources to further the creation of a domestic workforce
capable of advancing the key technology focus areas;
``(iii) provide funds to other Federal research agencies,
including the National Institute of Standards and Technology,
for intramural or extramural work in the key technology focus
areas;
``(iv) make awards under the SBIR and STTR programs (as
defined in section 9(e) of the Small Business Act (15 U.S.C.
638(e)) in the same manner as awards under such programs are
made by the Director of the Foundation;
[[Page S2599]]
``(v) administer prize challenges under section 24 of the
Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C.
3719) in the key technology focus areas, in order to expand
public-private partnerships beyond direct research funding;
and
``(vi) enter into and perform such contracts, including
cooperative research and development arrangements and grants
and cooperative agreements or other transactions, as may be
necessary in the conduct of the work of the Directorate and
on such terms as the Deputy Director considers appropriate,
in furtherance of the purposes of this Act.
``(B) Reports.--Not later than 180 days after the date of
enactment of the Endless Frontier Act, the Director shall
prepare and submit to the relevant congressional committees a
spending plan for the next 5 years for each of the activities
described in subparagraph (A), including--
``(i) a plan to seek out additional investments from--
``(I) certain designated countries; and
``(II) if appropriate, private sector entities; and
``(ii) the planned activities of the Directorate to secure
federally funded science and technology pursuant to section
1746 of the National Defense Authorization Act for Fiscal
Year 2020 (Public Law 116-92).
``(C) Annual briefing.--Each year, the Director shall
formally request a briefing from the Director of the Federal
Bureau of Investigation and the Director of the National
Counterintelligence and Security Center regarding their
efforts to preserve the United States' advantages generated
by the activity of the Directorate.
``(4) Interagency cooperation.--In carrying out this
section, the Director and other Federal research agencies
shall work cooperatively with each other to further the goals
of this section in the key technology focus areas. Each year,
the Director shall prepare and submit a report to Congress,
and shall simultaneously submit the report to the Director of
the Office of Science and Technology Policy, describing the
interagency cooperation that occurred during the preceding
year pursuant to this paragraph, including a list of--
``(A) any funds provided under paragraph (3)(A)(ii) to
other divisions of the Foundation; and
``(B) any funds provided under paragraph (3)(A)(iii) to
other Federal research agencies.
``(5) Providing scholarships, fellowships, and other
student support.--
``(A) In general.--The Director, acting through the
Directorate, shall fund undergraduate scholarships, graduate
fellowships and traineeships, and postdoctoral student awards
in the key technology focus areas.
``(B) Implementation.--The Director may carry out
subparagraph (A) by providing funds--
``(i) to the Directorate for Education and Human Resources
of the Foundation for--
``(I) awards directly to students; and
``(II) grants or cooperative agreements to institutions of
higher education, including those institutions involved in
operating university technology centers established under
paragraph (6); and
``(ii) to programs in Federal research agencies that have
experience awarding such scholarships, fellowships,
traineeships, or postdoctoral awards.
``(C) Supplement, not supplant.--The Director shall ensure
that funds made available under this paragraph shall be used
to create additional support for postsecondary students and
shall not displace funding for any other available support.
``(6) University technology centers.--
``(A) In general.--From amounts made available to the
Directorate, the Director shall, through a competitive
application and selection process, award grants to or enter
into cooperative agreements with institutions of higher
education or consortia described in paragraph (3)(A)(i)(III)
to establish university technology centers.
``(B) Uses of funds.--
``(i) In general.--A center established under a grant or
cooperative agreement under subparagraph (A)--
``(I) shall use support provided under such subparagraph--
``(aa) to carry out fundamental research to advance
innovation in the key technology focus areas; and
``(bb) to further the development of innovations in the key
technology focus areas, including--
``(AA) innovations derived from research carried out under
item (aa), through such activities as proof-of-concept
development and prototyping, in order to reduce the cost,
time, and risk of commercializing new technologies; and
``(BB) through the use of public-private partnerships; and
``(II) may use support provided under such subparagraph--
``(aa) for the costs of equipment, including mid-tier
infrastructure, and the purchase of cyberinfrastructure
resources, including computer time; or
``(bb) for other activities or costs necessary to
accomplish the purposes of this section.
``(ii) Support of regional technology hubs.--Each center
established under subparagraph (A) may support and
participate in, as appropriate, the activities of any
regional technology hub designated under section 27(d) of the
Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C.
3722(d)).
``(C) Requirements.--The Director shall ensure that any
institution of higher education or consortium receiving a
grant or cooperative agreement under subparagraph (A) has
demonstrated an ability to advance the goals described in
subsection (b)(1).
``(7) Moving technology from laboratory to market.--
``(A) Program authorized.--The Director shall establish a
program in the Directorate to award grants, on a competitive
basis, to institutions of higher education or consortia
described in paragraph (3)(A)(i)(III)--
``(i) to build capacity at an institution of higher
education and in its surrounding region to increase the
likelihood that new technologies in the key technology focus
areas will succeed in the commercial market; and
``(ii) with the goal of promoting experiments with a range
of models that institutions of higher education could use
to--
``(I) enable new technologies to mature to the point where
the technologies are more likely to succeed in the commercial
market; and
``(II) reduce the risks to commercial success for new
technologies earlier in their development.
A grant awarded under this subparagraph for a purpose
described in clause (i) or (ii) may also enable the
institution of higher education or consortium to provide
training and support to scientists and engineers who are
interested in research and commercialization, if the use is
included in the proposal submitted under subparagraph (B).
``(B) Proposals.--An institution of higher education or
consortium desiring a grant under this paragraph shall submit
a proposal to the Director at such time, in such manner, and
containing such information as the Director may require. The
proposal shall include a description of--
``(i) the steps the applicant will take to reduce the risks
for commercialization for new technologies;
``(ii) why such steps are likely to be effective; and
``(iii) how such steps differ from previous efforts to
reduce the risks for commercialization for new technologies.
``(C) Use of funds.--A recipient of a grant under this
paragraph shall use grant funds to reduce the risks for
commercialization for new technologies developed on campus,
which may include--
``(i) creating and funding competitions to allow
entrepreneurial ideas from institutions of higher education
to illustrate their commercialization potential;
``(ii) facilitating mentorships between local and national
business leaders and potential entrepreneurs to encourage
successful commercialization;
``(iii) creating and funding for-profit or not-for-profit
entities that could enable researchers at institutions of
higher education to further develop new technology prior to
seeking commercial financing, through patient funding,
advice, staff support, or other means;
``(iv) providing off-campus facilities for start-up
companies where technology maturation could occur; and
``(v) revising institution policies to accomplish the goals
of this paragraph.
``(8) Test beds.--
``(A) Program authorized.--The Director, acting through the
Deputy Director, shall establish a program in the Directorate
to award grants, on a competitive basis, to institutions of
higher education or consortia described in paragraph
(3)(A)(i)(III) to establish test beds and fabrication
facilities to advance the operation, integration and, as
appropriate, manufacturing of new, innovative technologies in
the key technology focus areas, which may include hardware or
software. The goal of such test beds and facilities shall be
to accelerate the movement of innovative technologies into
the commercial market through existing and new companies.
``(B) Proposals.--A proposal submitted under this paragraph
shall, at a minimum, describe--
``(i)(I) the 1 or more technologies that will be the focus
of the test bed or fabrication facility;
``(II) the goals of the work to be done at the test bed or
facility; and
``(III) the expected schedule for completing that work;
``(ii) how the applicant will assemble a workforce with the
skills needed to operate the test bed or facility;
``(iii) how the applicant will ensure that work in the test
bed or facility will contribute to the commercial viability
of any technologies, which may include collaboration and
funding from industry partners;
``(iv) how the applicant will encourage the participation
of entrepreneurs and the development of new businesses; and
``(v) how the test bed or facility will operate after
Federal funding has ended.
``(C) Awards.--Grants made under this paragraph--
``(i) shall be for 5 years, with the possibility of one 3-
year extension; and
``(ii) may be used for the purchase of equipment, the
support of graduate students and postdoctoral researchers,
and the salaries of staff.
``(D) Requirements.--As a condition of receiving a grant
under this paragraph, an institution of higher education or
consortium shall publish and share with the public the
results of the work conducted under this paragraph.
[[Page S2600]]
``(9) Inapplicability.--Section 5(e)(1) shall not apply to
grants, contracts, or other arrangements made under this
section.
``(d) Board of Advisors.--
``(1) In general.--There is established in the Foundation a
Board of Advisors for the Directorate (referred to in this
section as the `Board of Advisors'), which shall provide
advice to the Deputy Director pursuant to this subsection.
The Board of Advisors shall not have any decision-making
authority.
``(2) Membership.--
``(A) Composition.--The Board of Advisors shall be
comprised of 12 members representing scientific leaders and
experts from industry and academia, of whom--
``(i) 2 shall be appointed by the majority leader of the
Senate;
``(ii) 2 shall be appointed by the minority leader of the
Senate;
``(iii) 2 shall be appointed by the Speaker of the House of
Representatives;
``(iv) 2 shall be appointed by the minority leader of the
House of Representatives; and
``(v) 4 shall be appointed by the Director.
``(B) Opportunity for input.--Before appointing any member
under subparagraph (A), the appointing authority shall
provide an opportunity for the National Academies of
Sciences, Engineering, and Medicine and other entities to
provide advice regarding potential appointees.
``(C) Qualifications.--
``(i) In general.--Each member appointed under subparagraph
(A) shall--
``(I) have extensive experience in a field related to the
work of the Directorate or other expertise relevant to
developing technology roadmaps; and
``(II) have, or be able to obtain within a reasonable
period of time, a security clearance appropriate for the work
of the Board of Advisors.
``(ii) Expedited security clearances.--The process of
obtaining a security clearance under clause (i)(II) may be
expedited by the head of the appropriate Federal agency to
enable the Board to receive classified briefings on the
current and future technological capacity of other nations,
and on the military implications of civilian technologies.
``(D) Date.--The appointments of the members of the Board
of Advisors shall be made not later than 90 days after the
date of enactment of the Endless Frontier Act.
``(3) Period of appointment; vacancies.--
``(A) In general.--A member of the Board of Advisors shall
be appointed for a 3-year term, except that the Deputy
Director shall adjust the terms for the first members of the
Board of Advisors so that, within each appointment category
described in clauses (i) through (v) of paragraph (2)(A), the
terms expire on a staggered basis.
``(B) Term limits.--A member of the Board of Advisors shall
not serve for more than 2 full consecutive terms.
``(C) Vacancies.--Any vacancy in the Board of Advisors--
``(i) shall not affect the powers of the Board of Advisors;
and
``(ii) shall be filled in the same manner as the original
appointment.
``(4) Chairperson.--The members of the Board of Advisors
shall elect 1 member to serve as the chairperson of the Board
of Advisors.
``(5) Meetings.--
``(A) Initial meeting.--Not later than 180 days after the
date of enactment of the Endless Frontier Act, the Board of
Advisors shall hold the first meeting of the Board of
Advisors.
``(B) Additional meetings.--After the first meeting of the
Board of Advisors, the Board of Advisors shall meet upon the
call of the chairperson or of the Director, and at least once
every 180 days for the duration of the Board of Advisors.
``(C) Meeting with the national science board.--The Board
of Advisors shall hold a joint meeting with the National
Science Board on at least an annual basis, on a date mutually
selected by the chairperson of the Board of Advisors and the
Chairman of the National Science Board.
``(D) Quorum.--A majority of the members of the Board of
Advisors shall constitute a quorum, but a lesser number of
members may hold hearings.
``(6) Duties of board of advisors.--
``(A) In general.--The Board of Advisors shall provide
advice--
``(i) to the Deputy Director on programs that could best be
carried out to accomplish the purposes of this section;
``(ii) to the Deputy Director to inform the reviews of key
technology focus areas required under subsection (c)(2)(B);
and
``(iii) on other issues relating to the purposes and
responsibilities of the Directorate, as requested by the
Deputy Director.
``(B) No role in awarding grants, contracts, or cooperative
agreements.--The Board of Advisors shall not provide advice
on or otherwise help determine what entities shall receive
grants, contracts, or cooperative agreements under this Act.
``(7) Powers of board of advisors.--
``(A) Hearings.--The Board of Advisors may hold public or
private hearings, sit and act at such times and places, take
such testimony and receive such evidence (including
classified testimony and evidence), and administer such oaths
as may be necessary to carry out the functions of the Board
of Advisors under paragraph (6).
``(B) Information from federal agencies.--
``(i) In general.--Each Federal department or agency shall,
in accordance with applicable procedures for the handling of
classified information, provide reasonable access to
documents, statistical data, and other such information that
the Deputy Director, in consultation with the chairperson of
the Board of Advisors, determines necessary to carry out its
functions under paragraph (6).
``(ii) Obtaining classified information.--If the Board of
Advisors, acting through the chairperson, seeks classified
information from a Federal department or agency, the Deputy
Director shall submit a written request to the head of the
Federal department or agency for access to classified
documents and statistical data, and other classified
information described in clause (i), that is under the
control of such agency.
``(C) Financial disclosure reports.--Each member of the
Board of Advisors shall be required to file a financial
disclosure report under title I of the Ethics in Government
Act of 1978, except that such reports shall be held
confidential and exempt from any law otherwise requiring
their public disclosure.
``(8) Board of advisors personnel and operational
matters.--
``(A) Compensation of members.--
``(i) In general.--A member of the Board of Advisors shall
be compensated at a rate equal to the daily equivalent of the
annual rate of basic pay prescribed for level IV of the
Executive Schedule under section 5315 of title 5, United
States Code, for each day (including travel time) during
which the member is engaged in the performance of the duties
of the Board of Advisors.
``(ii) No federal employee members.--No member of the Board
of Advisors may be an officer or employee of the United
States during the member's term on the Board of Advisors.
``(B) Travel expenses.--A member of the Board of Advisors
shall be allowed travel expenses, including per diem in lieu
of subsistence, at rates authorized for employees of agencies
under subchapter I of chapter 57 of title 5, United States
Code, while away from their home or regular places of
business in the performance of services for the Board of
Advisors.
``(C) Staff.--The Deputy Director, in consultation with the
chairperson of the Board of Advisors, shall assign an
employee of the Foundation to serve as an executive director
for the Board of Advisors.
``(D) Government employees.--
``(i) In general.--Any Federal Government employee may be
detailed to the Board of Advisors without reimbursement, and
such detail shall be without interruption or loss of civil
service status or privilege.
``(ii) Employees of the legislative branch.--The Deputy
Director shall establish procedures and policies to enable an
employee of an office, agency, or other entity in the
legislative branch of the Government to support the
activities of the Board of Advisors.
``(E) Procurement of temporary and intermittent services.--
The chairperson of the Board of Advisors, with approval from
the Deputy Director, may procure temporary and intermittent
services under section 3109(b) of title 5, United States
Code, at rates for individuals which do not exceed the daily
equivalent of the annual rate of basic pay prescribed for
level V of the Executive Schedule under section 5316 of that
title.
``(F) Assistance from federal agencies.--A Federal
department or agency may provide to the Board of Advisors
such services, funds, facilities, staff, and other support
services as the department or agency may determine advisable
and as may be authorized by law.
``(9) Permanent board.--Section 14 of the Federal Advisory
Committee Act (5 U.S.C. App.) shall not apply to the Board of
Advisors.
``(e) Areas of Funding Support.--Subject to the
availability of funds under subsection (f), the Director
shall, for each fiscal year, use--
``(1) not less than 35 percent of funds provided to the
Directorate for such year to carry out subsection (c)(6);
``(2) not less than 15 percent of such funds to carry out
subsection (c)(5) with the goal of awarding, across the key
technology focus areas--
``(A) not fewer than 1,000 post-doctorate fellowships;
``(B) not fewer than 2,000 graduate fellowships and
traineeships;
``(C) not fewer than 1,000 undergraduate scholarships; and
``(D) if funds remain after carrying out subparagraphs (A)
through (C), grants to institutions of higher education to
enable the institutions to fund the development and
establishment of new or specialized courses of education for
graduate, undergraduate, or technical college students;
``(3) not less than 5 percent of such funds to carry out
subsection (c)(7);
``(4) not less than 10 percent of such funds to carry out
subsection (c)(8) by establishing and equipping test beds and
fabrication facilities; and
``(5) not less than 15 percent of such funds to carry out
research and related activities pursuant to subclauses (I)
and (II) of subsection (c)(3)(A)(ii).
``(f) Authorization of Appropriations.--
``(1) In general.--There are authorized to be appropriated
for the Directorate, in addition to any other funds made
available to the Directorate, a total of $100,000,000,000 for
fiscal years 2021 through 2025, of which--
``(A) $2,000,000,000 is authorized for fiscal year 2021;
``(B) $8,000,000,000 is authorized for fiscal year 2022;
[[Page S2601]]
``(C) $20,000,000,000 is authorized for fiscal year 2023;
``(D) $35,000,000,000 is authorized for fiscal year 2024;
and
``(E) $35,000,000,000 is authorized for fiscal year 2025.
``(2) Appropriations limitations.--
``(A) Hold harmless.--No funds shall be appropriated to the
Directorate or to carry out this section for any fiscal year
in which the total amount appropriated to the Foundation (not
including amounts appropriated for the Directorate) is less
than the total amount appropriated to the Foundation (not
including such amounts), adjusted by the rate of inflation,
for the previous fiscal year.
``(B) No transfer of funds.--The Director shall not
transfer any funds appropriated to any other directorate or
office of the Foundation to the Directorate.''.
(d) Annual Report on Unfunded Priorities.--
(1) Annual report.--Not later than 10 days after the date
on which the budget of the President for a fiscal year is
submitted to Congress pursuant to section 1105 of title 31,
United States Code, the Director shall submit to the
President and to Congress a report on the unfunded priorities
of the National Science and Technology Foundation.
(2) Elements.--Each report submitted under paragraph (1)
shall provide--
(A) for each directorate of the National Science Foundation
for the most recent, fully completed fiscal year--
(i) the proposal success rate;
(ii) the percentage of proposals that were not funded and
that met the criteria for funding; and
(iii) the most promising research areas covered by
proposals described in clause (ii); and
(B) a list, in order of priority, of the next activities
that should be undertaken in the Major Research Equipment and
Facilities Construction account.
SEC. 4. REGIONAL TECHNOLOGY HUB PROGRAM.
(a) Definitions.--
(1) Key technology focus areas.--Subsection (a) of section
27 of the Stevenson-Wydler Technology Innovation Act of 1980
(15 U.S.C. 3722) is amended--
(A) by redesignating paragraphs (2) through (4) as
paragraphs (3) through (5), respectively; and
(B) by inserting after paragraph (1) the following:
``(2) Key technology focus areas.--The term `key technology
focus areas' means the areas included on the most recent list
under section 8A(c)(2) of the Act of May 10, 1950 (64 Stat.
149, chapter 171; 42 U.S.C. 1861 et seq.).''.
(2) Venture development organizations.--Paragraph (5) of
such subsection, as redesignated by paragraph (1) of this
subsection, is amended by striking ``purposes of'' and all
that follows through the period at the end and inserting the
following: ``purposes of--
``(A) accelerating the commercialization of research;
``(B) strengthening the competitive position of industry
through the development, commercial adoption, or deployment
of technology; and
``(C) providing financial grants, loans, or direct
financial investment to commercialize technology.''.
(b) Designation of and Support for Regional Technology Hubs
as Part of Regional Innovation Program of Department of
Commerce.--
(1) In general.--Such section is amended--
(A) by redesignating subsections (d) through (h) as
subsections (e) through (i), respectively; and
(B) by inserting after subsection (c) the following:
``(d) Designation of and Grants in Support of Regional
Technology Hubs.--
``(1) Program required.--
``(A) In general.--As part of the program established under
subsection (b), the Secretary shall carry out a program--
``(i) to designate eligible consortia as regional
technology hubs that create the conditions, within a region,
to facilitate activities that--
``(I) enable United States leadership in a key technology
focus area, complementing the Federal research and
development investments under section 8A of the Act of May
10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C. 1861 et seq.);
and
``(II) support regional economic development that diffuses
innovation capacity around the United States, enabling better
broad-based growth and competitiveness in key technology
focus areas; and
``(ii) to support regional technology hubs designated under
clause (i).
``(B) Eligible consortia.--For purposes of this section, an
eligible consortium is a consortium that--
``(i) includes--
``(I) an institution of higher education;
``(II) a local or Tribal government or other political
subdivision of a State;
``(III) a government of a State or the economic development
representative of a State; and
``(IV) an economic development organization or similar
entity that is focused primarily on improving science,
technology, innovation, or entrepreneurship; and
``(ii) may include 1 or more--
``(I) nonprofit entities with relevant expertise;
``(II) venture development organizations;
``(III) financial institutions;
``(IV) educational institutions, including career and
technical education schools;
``(V) workforce training organizations;
``(VI) industry associations;
``(VII) firms in the key technology focus areas;
``(VIII) Federal laboratories;
``(IX) Centers (as defined in section 25(a) of the National
Institute of Standards and Technology Act (15 U.S.C.
278k(a));
``(X) Manufacturing USA institutes (as described in section
34(d) of the National Institute of Standards and Technology
Act (15 U.S.C. 278s(d))); and
``(XI) institutions receiving an award under paragraph (6)
or (7) of section 8A(c) of the Act of May 10, 1950 (64 Stat.
149, chapter 171; 42 U.S.C. 1861 et seq.).
``(C) Administration.--The Secretary shall carry out this
subsection through the Assistant Secretary of Commerce for
Economic Development and the Under Secretary of Commerce for
Standards and Technology, jointly.
``(2) Designation of regional technology hubs.--
``(A) In general.--The Secretary shall use a competitive
process for the designation of regional technology hubs under
paragraph (1)(A)(i).
``(B) Number of regional technology hubs.--During the 5-
year period beginning on the date of the enactment of the
Endless Frontier Act, the Secretary shall designate not fewer
than 10 and not more than 15 eligible consortia as regional
technology hubs under paragraph (1)(A)(i).
``(C) Geographic distribution.--In conducting the
competitive process under subparagraph (A), the Secretary
shall ensure geographic distribution in the designation of
regional technology hubs--
``(i) aiming to designate regional technology hubs in as
many regions of the United States as possible; and
``(ii) focusing on localities that have clear potential and
relevant assets for developing a key technology focus area
but have not yet become leading technology centers.
``(3) Grants.--
``(A) In general.--The Secretary shall carry out clause
(ii) of paragraph (1)(A) through the award of grants to
eligible consortia designated under clause (i) of such
paragraph.
``(B) Term.--Each grant awarded under subparagraph (A)
shall be for a period of 5 years, but may be renewed once for
an additional period of 5 years.
``(C) Matching required.--The total Federal financial
assistance awarded in a given year to an eligible consortium
in support of the eligible consortium's operation as a
regional technology hub under this subsection shall not
exceed amounts as follows:
``(i) In fiscal year 2021, 90 percent of the total funding
of the regional technology hub in that fiscal year.
``(ii) In fiscal year 2022, 85 percent of the total funding
of the regional technology hub in that fiscal year.
``(iii) In fiscal year 2023, 80 percent of the total
funding of the regional technology hub in that fiscal year.
``(iv) In fiscal year 2024 and in each fiscal year
thereafter, 75 percent of the total funding of the regional
technology hub in that fiscal year.
``(D) Use of grant funds.--The recipient of a grant awarded
under subparagraph (A) shall use the grant for multiple
activities determined appropriate by the Secretary,
including--
``(i) the permissible activities set forth under subsection
(c)(2); and
``(ii) activities in support of key technology focus
areas--
``(I) to develop the region's skilled workforce through the
training and retraining of workers and alignment of career
technical training and educational programs in the region's
elementary and secondary schools and institutions of higher
education;
``(II) to develop regional strategies for infrastructure
improvements and site development in support of the regional
technology hub's plans and programs;
``(III) to support business activity that develops the
domestic supply chain and encourages the creation of new
business entities;
``(IV) to attract new private, public, and philanthropic
investment in the region for developing innovation capacity,
including establishing regional venture and loan funds for
financing technology commercialization, new business
formation, and business expansions;
``(V) to further the development of innovations in the key
technology focus areas, including innovations derived from
research conducted at institutions of higher education or
other research entities, including research conducted by 1 or
more university technology centers established under section
8A(c)(6) of the Act of May 10, 1950 (64 Stat. 149, chapter
171; 42 U.S.C. 1861 et seq.), through activities that may
include--
``(aa) proof-of-concept development and prototyping;
``(bb) public-private partnerships in order to reduce the
cost, time, and risk of commercializing new technologies;
``(cc) creating and funding competitions to allow
entrepreneurial ideas from institutions of higher education
to illustrate their commercialization potential;
``(dd) facilitating mentorships between local and national
business leaders and potential entrepreneurs to encourage
successful commercialization;
[[Page S2602]]
``(ee) creating and funding for-profit or not-for-profit
entities that could enable researchers at institutions of
higher education and other research entities to further
develop new technology prior to seeking commercial financing,
through patient funding, advice, staff support, or other
means; and
``(ff) providing facilities for start-up companies where
technology maturation could occur; and
``(VI) to carry out such other activities as the Secretary
considers appropriate to improve United States
competitiveness and regional economic development to support
a key technology focus area and that would further the
purposes of the Endless Frontiers Act.
``(4) Applications.--
``(A) In general.--An eligible consortium seeking
designation as a regional technology hub under clause (i) of
paragraph (1)(A) and support under clause (ii) of such
paragraph shall submit to the Secretary an application
therefor at such time, in such manner, and containing such
information as the Secretary may specify.
``(B) Consultation with national science foundation
university technology centers.--In preparing an application
for submittal under subparagraph (A), an applicant shall, to
the extent practicable, consult with one or more university
technology centers established under section 8A(c)(6) of the
Act of May 10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C.
1861 et seq.) that are either geographically relevant or are
conducting research on relevant key technology focus areas.
``(5) Considerations for designation and grant awards.--In
selecting an eligible consortium that submitted an
application under paragraph (4)(A) for designation and
support under paragraph (1)(A), the Secretary shall consider,
at a minimum, the following:
``(A) The potential of the eligible consortium to advance
the development of new technologies in a key technology focus
area.
``(B) The likelihood of positive regional economic effect,
including increasing the number of high wage jobs, and
creating new economic opportunities for economically
disadvantaged populations.
``(C) How the eligible consortium plans to integrate with
and leverage the resources of one or more university
technology centers established under section 8A(c)(6) of the
Act of May 10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C.
1861 et seq.) in a related key technology focus area.
``(D) How the eligible consortium will engage with the
private sector, including small- and medium-sized enterprises
to commercialize new technologies and develop new supply
chains in the United States in a key technology focus area.
``(E) How the eligible consortium will carry out workforce
development and skills acquisition programming, including
through the use of apprenticeships, mentorships, and other
related activities authorized by the Secretary, to support
the development of a key technology focus area.
``(F) How the eligible consortium will improve science,
technology, engineering, and mathematics education programs
in the identified region in elementary and secondary school
and higher education institutions located in the identified
region to support the development of a key technology focus
area.
``(G) How the eligible consortium plans to develop
partnerships with venture development organizations and
sources of private investment in support of private sector
activity, including launching new or expanding existing
companies, in a key technology focus area.
``(H) How the eligible consortium plans to organize the
activities of regional partners in the public, private, and
philanthropic sectors in support of the proposed regional
technology hub, including the development of necessary
infrastructure improvements and site preparation.
``(I) How the eligible consortium plans to address economic
inclusion, including ensuring that skill development,
entrepreneurial assistance, and other activities focus on
economically disadvantaged populations.
``(6) Coordination with national institute of standards and
technology programs.--
``(A) Definitions.--In this paragraph:
``(i) Manufacturing extension center.--The term
`manufacturing extension center' has the meaning given the
term `Center' in section 25(a) of the National Institute of
Standards and Technology Act (15 U.S.C. 278k(a).
``(ii) Manufacturing usa institute.--The term
`Manufacturing USA institute' means a Manufacturing USA
institute described in section 34(d) of the National
Institute of Standards and Technology Act (15 U.S.C.
278s(d)).
``(B) Coordination required.--The Secretary shall
coordinate the activities of regional technology hubs
designated under this subsection, the Hollings Manufacturing
Extension Partnership, and the Manufacturing USA Program with
each other to the degree that doing so does not diminish the
effectiveness of the ongoing activities of a manufacturing
extension center or a Manufacturing USA institute.
``(C) Condition of support.--In order to coordinate
activities under subparagraph (B), the Secretary may
condition the award of a grant or support under this
subsection or section 25 or 34 of the National Institute of
Standards and Technology Act (15 U.S.C. 278k and 278s) upon
submittal to the coordination efforts of the Secretary under
subparagraph (B) of this paragraph.
``(D) Elements.--Coordination by the Secretary under
subparagraph (B) may include the following:
``(i) The alignment of activities of the Hollings
Manufacturing Extension Partnership with the activities of
regional technology hubs designated under this subsection, if
applicable.
``(ii) The alignment of activities of the Manufacturing USA
Program and the Manufacturing USA institutes with the
activities of regional technology hubs designated under this
subsection, if applicable.
``(7) Interagency collaboration.--In assisting regional
technology hubs designated under paragraph (1)(A)(i), the
Secretary--
``(A) shall collaborate with Federal departments and
agencies whose missions contribute to the goals of the
regional technology hub;
``(B) may accept funds from other Federal agencies to
support grants and activities under this subsection; and
``(C) may establish interagency agreements with other
Federal departments or agencies to provide preferential
consideration for financial or technical assistance to a
regional technology hub designated under this subsection if
all applicable requirements for the financial or technical
assistance are met.
``(8) Performance measurement, transparency, and
accountability.--
``(A) Metrics, standards, and assessment.--For each grant
awarded under paragraph (3) for a regional technology hub,
the Secretary shall--
``(i) develop metrics to assess the effectiveness of the
activities funded in making progress toward the purposes set
forth under paragraph (1)(A);
``(ii) establish standards for the performance of the
regional technology hub that are based on the metrics
developed under clause (i); and
``(iii) 2 years after the initial award under paragraph (3)
and each year thereafter until Federal financial assistance
under this subsection for the regional technology hub is
discontinued, conduct an assessment of the regional
technology hub to confirm whether the performance of the
regional technology hub is meeting the standards for
performance established under clause (ii).
``(B) Annual report.--Not less frequently than once each
year, the Secretary shall submit to the Committee on
Commerce, Science, and Transportation of the Senate, the
Committee on Appropriations of the Senate, the Committee on
Science, Space, and Technology of the House of
Representatives, and the Committee on Appropriations of the
House of Representatives an annual report on the results of
the assessments conducted by the Secretary under subparagraph
(A)(iii) during the period covered by the report.''.
(2) Initial designations and awards.--
(A) Competition required.--Not later than 180 days after
the date of the enactment of this Act, the Secretary of
Commerce shall commence a competition under paragraph (2)(A)
of section 27(d) of the Stevenson-Wydler Technology
Innovation Act of 1980, as added by paragraph (1).
(B) Designation and award.--Not later than 1 year after the
date of the enactment of this Act, if the Secretary has
received at least 1 application under paragraph (4) of such
section from an eligible consortium whom the Secretary
considers suitable for designation under paragraph (1)(A)(i)
of such section, the Secretary shall--
(i) designate at least 1 regional technology hub under
paragraph (1)(A)(i) of such section; and
(ii) award a grant under paragraph (3)(A) of such section
to each regional technology hub designated under clause (i)
of this subparagraph.
(c) Authorization of Appropriations.--Subsection (i) of
such section, as redesignated by subsection (c)(1)(A) of this
section, is amended--
(1) by striking ``From amounts'' and inserting the
following:
``(1) In general.--From amounts'';
(2) in paragraph (1), as redesignated by paragraph (1) of
this subsection, by striking ``this section'' and inserting
``the provisions of this section other than subsection (d)'';
and
(3) by adding at the end the following:
``(2) Regional technology hubs.--There is authorized to be
appropriated to the Secretary to carry out subsection (d)
$10,000,000,000 for the period of fiscal year 2021 through
2025.''.
SEC. 5. STRATEGY AND REPORT ON ECONOMIC SECURITY, SCIENCE,
RESEARCH, AND INNOVATION TO SUPPORT THE
NATIONAL SECURITY STRATEGY.
(a) Definitions.--In this section:
(1) Appropriate committees of congress.--The term
``appropriate committees of Congress'' means--
(A) the Committee on Appropriations, the Committee on Armed
Services, the Committee on Banking, Housing, and Urban
Affairs, the Committee on Commerce, Science, and
Transportation, the Committee on Energy and Natural
Resources, the Committee on Finance, the Committee on Foreign
Relations, and the Select Committee on Intelligence of the
Senate; and
(B) the Committee on Appropriations, the Committee on Armed
Services, the Committee on Energy and Commerce, the Committee
on Financial Services, the Committee on Foreign Affairs, the
Committee on Ways
[[Page S2603]]
and Means, and the Permanent Select Committee on Intelligence
of the House of Representatives.
(2) Key technology focus area.--The term ``key technology
focus area'' means an area included on the most recent list
under section 8A(c)(2) of the Act of May 10, 1950 (64 Stat.
149, chapter 171; 42 U.S.C. 1861 et seq.).
(3) National security strategy.--The term ``national
security strategy'' means the national security strategy
required by section 108 of the National Security Act of 1947
(50 U.S.C. 3043).
(b) Strategy and Report.--
(1) In general.--In 2021 and in each year thereafter before
the applicable date set forth under paragraph (2), the
Director of the Office of Science and Technology Policy, in
coordination with the Director of the National Economic
Council, the Director of the National Science Foundation, the
Secretary of Commerce, the National Security Council, and the
heads of other relevant Federal agencies, shall--
(A) review such strategy, programs, and resources as the
Director of the Office of Science and Technology Policy
determines pertain to United States national competitiveness
in science, research, and innovation to support the national
security strategy;
(B) develop a strategy for the Federal Government to
improve the national competitiveness of the United States in
science, research, and innovation to support the national
security strategy; and
(C) submit to the appropriate committees of Congress--
(i) a report on the findings of the Director with respect
to the review conducted under paragraph (1); and
(ii) the strategy developed or revised under paragraph (2).
(2) Applicable dates.--In each year, the applicable date
set forth under this paragraph is as follows:
(A) In 2021, December 31, 2021.
(B) In 2022 and every year thereafter--
(i) in any year in which a new President is inaugurated,
October 1 of that year; and
(ii) in any other year, the date that is 90 days after the
date of the transmission to Congress in that year of the
national security strategy.
(c) Elements.--
(1) Report.--Each report submitted under subsection
(b)(1)(C)(i) shall include the following:
(A) An assessment of public and private investment in
civilian and military science and technology and its
implications for the geostrategic position and national
security of the United States.
(B) A description of the prioritized economic security
interests and objectives of the United States relating to
science, research, and innovation and an assessment of how
investment in civilian and military science and technology
can advance those objectives.
(C) An assessment of how regional efforts are contributing
and could contribute to the innovation capacity of the United
States, including--
(i) programs run by State and local governments; and
(ii) regional factors that are contributing or could
contribute positively to innovation.
(D) An assessment of barriers to competitiveness in key
technology focus areas and barriers to the development and
evolution of start-ups, small and mid-sized business
entities, and industries in key technology focus areas.
(E) An assessment of the effectiveness of the Federal
Government, federally funded research and development
centers, and national labs in supporting and promoting
technology commercialization and technology transfer,
including an assessment of the adequacy of Federal research
and development funding in promoting competitiveness and the
development of new technologies.
(F) An assessment of manufacturing capacity, logistics, and
supply chain dynamics of major export sectors, including
access to a skilled workforce, physical infrastructure, and
broadband network infrastructure.
(2) Strategy.--Each strategy submitted under subsection
(b)(1)(C)(ii) shall include the following:
(A) A plan to utilize available tools to address or
minimize the leading threats and challenges and to take
advantage of the leading opportunities, including the
following:
(i) Specific objectives, tasks, metrics, and milestones for
each relevant Federal agency.
(ii) Specific plans to support public and private sector
investment in research, technology development, and domestic
manufacturing in key technology focus areas supportive of the
national economic competitiveness of the United States and to
foster the prudent use of public-private partnerships.
(iii) Specific plans to promote environmental stewardship
and fair competition for United States workers.
(iv) A description of--
(I) how the strategy submitted under subsection (b)(3)(B)
supports the national security strategy; and
(II) how the strategy submitted under such subsection is
integrated and coordinated with the most recent national
defense strategy under section 113(g) of title 10, United
States Code.
(v) A plan to encourage the governments of countries that
are allies or partners of the United States to cooperate with
the execution of the strategy submitted under subsection
(b)(3)(B), where appropriate.
(vi) A plan to encourage certain international and
multilateral organizations to support the implementation of
such strategy.
(vii) A plan for how the United States should develop local
and regional capacity for building innovation ecosystems
across the nation by providing Federal support.
(viii) A plan for strengthening the industrial base of the
United States.
(B) An identification of additional resources,
administrative action, or legislative action recommended to
assist with the implementation of such strategy.
(d) Form of Reports and Strategies.--Each report and
strategy submitted under subsection (b) shall be submitted in
unclassified form, but may include a classified annex.
SEC. 6. CONFORMING AMENDMENTS.
(a) Scientific and Advanced-Technology Act of 1992.--The
Scientific and Advanced-Technology Act of 1992 (42 U.S.C.
1862h et seq.) is amended--
(1) in section 2(a)(5) (42 U.S.C. 1862h(a)(5)), by striking
``National Science Foundation'' and inserting ``National
Science and Technology Foundation''; and
(2) in section 3 (42 U.S.C. 1862i), by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation''.
(b) National Science Foundation Authorization Act of
1998.--The National Science Foundation Authorization Act of
1998 (42 U.S.C. 1862k et seq.) is amended--
(1) in each of paragraphs (1) and (2) of section 2 (112
Stat. 869), by striking ``National Science Foundation
established'' and inserting ``National Science and Technology
Foundation established''; and
(2) in section 101(a)(6) (42 U.S.C. 1862k(a)(6)), by
striking ``National Science Foundation'' each place the term
appears and inserting ``National Science and Technology
Foundation''.
(c) National Science Foundation Authorization Act of
2002.--The National Science Foundation Authorization Act of
2002 (42 U.S.C. 1862n et seq.) is amended--
(1) in section 2 (42 U.S.C. 1862n note), by striking
``National Science Foundation'' each place the term appears
and inserting ``National Science and Technology Foundation'';
(2) in each of paragraphs (4) and (7) of section 4 (42
U.S.C. 1862n note), by striking ``National Science Foundation
established'' and inserting ``National Science and Technology
Foundation established''; and
(3) in section 10A (42 U.S.C. 1862n-1a)--
(A) in the section heading, by inserting ``and technology''
after ``national science'';
(B) in the subsection heading of subsection (e), by
inserting ``and Technology'' after ``National Science''; and
(C) by striking ``National Science Foundation'' each place
the term appears and inserting ``National Science and
Technology Foundation''.
(d) America COMPETES Act.--The America COMPETES Act (Public
Law 110-69; 121 Stat. 572) is amended--
(1) in each of sections 1006(c)(1)(K) (15 U.S.C.
3718(c)(1)(K)), 4001 (33 U.S.C. 893), and 5003(b)(1), by
striking ``National Science Foundation'' and inserting
``National Science and Technology Foundation'';
(2) in section 7001(5) (42 U.S.C. 1862o note), by striking
``National Science Foundation'' and inserting ``National
Science and Technology Foundation''; and
(3) in the title heading for title VII, by inserting ``AND
TECHNOLOGY'' after ``NATIONAL SCIENCE''.
(e) National Science and Technology Policy, Organization,
and Priorities Act of 1976.--The National Science and
Technology Policy, Organization, and Priorities Act of 1976
(42 U.S.C. 6601 et seq.) is amended--
(1) in section 205(b)(2) (42 U.S.C. 6614(b)(2)), by
striking ``National Science Foundation'' and inserting
``National Science and Technology Foundation''; and
(2) in section 206 (42 U.S.C. 6615), by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation''.
(f) America COMPETES Reauthorization Act of 2010.--The
America COMPETES Reauthorization Act of 2010 (Public Law 111-
358; 124 Stat. 3982) is amended--
(1) in the subtitle heading of subtitle A of title V, by
inserting ``and Technology'' after ``National Science'';
(2) in section 502 (42 U.S.C. 1862p note)--
(A) in paragraph (1), by striking ``National Science
Foundation'' and inserting ``National Science and Technology
Foundation''; and
(B) in paragraph (3), by striking ``National Science
Foundation established'' and inserting ``National Science and
Technology Foundation established'';
(3) in the section heading of section 506 (42 U.S.C. 1862p-
1), by inserting ``and technology'' after ``national
science'';
(4) in section 517 (42 U.S.C. 1862p-9)--
(A) in paragraph (2) of subsection (a), by striking
``National Science Foundation'' each place the term appears
and inserting ``National Science and Technology Foundation'';
and
(B) in each of subsections (a)(4), (b), and (c)(2), by
striking ``National Science Foundation'' and inserting
``National Science and Technology Foundation'';
(5) in section 518 (124 Stat. 4015), by striking
``Foundation.'' and inserting ``and Technology Foundation.'';
[[Page S2604]]
(6) in section 519 (124 Stat. 4015)--
(A) in the section heading, by inserting ``and technology''
after ``national science''; and
(B) by striking ``National Science Foundation'' each place
the term appears and inserting ``National Science and
Technology Foundation'';
(7) in section 520 (42 U.S.C. 1862p-10)--
(A) by striking ``National Science Foundation'' each place
the term appears and inserting ``National Science and
Technology Foundation''; and
(B) in the subsection heading of subsection (b), by
striking ``NSF'' and inserting ``NSTF'';
(8) in section 522 (42 U.S.C. 1862p-11)--
(A) in the section heading, by striking ``nsf'' and
inserting ``nstf''; and
(B) by striking ``National Science Foundation'' and
inserting ``National Science and Technology Foundation'';
(9) in section 524 (42 U.S.C. 1862p-12), by striking
``National Science Foundation'' each place the term appears
and inserting ``National Science and Technology Foundation'';
and
(10) in section 555(5) (20 U.S.C. 9905(5)), by inserting
``and Technology'' after ``National Science''.
(g) STEM Education Act of 2015.--Each of sections 2 and 3
of the STEM Education Act of 2015 (42 U.S.C. 6621 note;
1862q) are amended by striking ``National Science
Foundation'' and inserting ``National Science and Technology
Foundation''.
(h) Research Excellence and Advancements for Dyslexia
Act.--The Research Excellence and Advancements for Dyslexia
Act (Public Law 114-124; 130 Stat. 120) is amended by
striking ``National Science'' each place the term appears and
inserting ``National Science and Technology''.
(i) American Innovation and Competitiveness Act.--The
American Innovation and Competitiveness Act (42 U.S.C. 1862s
et seq.) is amended--
(1) in section 2 (42 U.S.C. 1862 note), by inserting ``and
Technology'' after ``National Science''; and
(2) in section 601(a)(1) (42 U.S.C. 1862s-8(a)(1)), by
striking ``National Science'' each place the term appears and
inserting ``National Science and Technology''.
(j) National Science Foundation Authorization Act, 1976.--
The National Science Foundation Authorization Act, 1976
(Public Law 94-86) is amended--
(1) in section 2(b) (42 U.S.C. 1869a), by striking
``National Science Foundation'' each place the term appears
and inserting ``National Science and Technology Foundation'';
and
(2) in section 6(a) (42 U.S.C. 1881a(a)), by striking
``National Science Foundation'' and inserting ``National
Science and Technology Foundation''.
(k) National Science Foundation Authorization Act, 1977.--
Section 8 of the National Science Foundation Authorization
Act, 1977 (42 U.S.C. 1883) is amended by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation''.
(l) National Science Foundation Authorization Act, Fiscal
Year 1978.--Section 8 of the National Science Foundation
Authorization Act, Fiscal Year 1978 (42 U.S.C. 1869b) is
amended by inserting ``and Technology'' after ``National
Science''.
(m) Act of August 25, 1959.--The first section of the Act
of August 25, 1959 (42 U.S.C. 1880) is amended by inserting
``and Technology'' after ``National Science''.
(n) National Science Foundation Authorization Act for
Fiscal Year 1980.--Section 9 of the National Science
Foundation Authorization Act for Fiscal Year 1980 (42 U.S.C.
1882) is amended by striking ``National Science Foundation''
each place the term appears and inserting ``National Science
and Technology Foundation''.
(o) National Aeronautics and Space Administration
Authorization Act of 2005.--Section 721 of the National
Aeronautics and Space Administration Authorization Act of
2005 (42 U.S.C. 1886a) is amended by striking ``The National
Science Foundation'' and inserting ``The National Science and
Technology Foundation''.
(p) National Science Foundation Authorization Act for
Fiscal Year 1986.--Section 108 of the National Science
Foundation Authorization Act for Fiscal Year 1986 (42 U.S.C.
1886) is amended by inserting ``and Technology'' after
``National Science''.
(q) National Quantum Initiative Act.--The National Quantum
Initiative Act (Public Law 115-368) is amended--
(1) in the table of contents in section 2, by striking the
item relating to title III and inserting the following:
``TITLE III--NATIONAL SCIENCE AND TECHNOLOGY FOUNDATION QUANTUM
ACTIVITIES'';
(2) in section 102(a)(2)(A) (15 U.S.C. 8812(a)(2)(A)), by
inserting ``and Technology'' after ``National Science'';
(3) in section 103 (15 U.S.C. 8813), by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation'';
(4) in the title heading for title III, by inserting ``AND
TECHNOLOGY'' after ``NATIONAL SCIENCE''; and
(5) in each of sections 301 and 302 (15 U.S.C. 8841, 8842),
by striking ``National Science Foundation'' each place the
term appears and inserting ``National Science and Technology
Foundation''.
(r) Cybersecurity Enhancement Act of 2014.--The
Cybersecurity Enhancement Act of 2014 (15 U.S.C. 7421 et
seq.) is amended--
(1) in section 201 (15 U.S.C. 7431), by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation''; and
(2) in each of sections 301 and 302 (15 U.S.C. 7441, 7442),
by striking ``National Science Foundation'' each place the
term appears and inserting ``National Science and Technology
Foundation''.
(s) High-performance Computing Act of 1991.--The High-
Performance Computing Act of 1991 (15 U.S.C. 5501 et seq.) is
amended--
(1) in section 101(a)(3)(C)(xi) 15 U.S.C.
5511(a)(3)(C)(xi)), by inserting ``and Technology'' after
``National Science''; and
(2) in section 201 (15 U.S.C. 5521)--
(A) in the section heading, by inserting ``and technology''
after ``national science''; and
(B) by striking ``National Science Foundation'' each place
the term appears and inserting ``National Science and
Technology Foundation''.
(t) Arctic Research and Policy Act of 1984.--The Arctic
Research and Policy Act of 1984 (15 U.S.C. 4101 et seq.) is
amended--
(1) in each of sections 102(b)(3) and 103(b)(1) (15 U.S.C.
4101(b)(3), 4102(b)(1)), by inserting ``and Technology''
after ``National Science''; and
(2) in section 107 (15 U.S.C. 4106)--
(A) in the subsection heading of subsection (a), by
inserting ``and Technology'' after ``National Science''; and
(B) by striking ``National Science Foundation'' each place
the term appears and inserting ``National Science and
Technology Foundation''.
(u) Stevenson-Wydler Technology Innovation Act of 1980.--
The Stevenson-Wydler Technology Innovation Act of 1980 (15
U.S.C. 3701 et seq.) is amended--
(1) in each of sections 4(5), 5(a)(2)(A), 20, and 21(d) (15
U.S.C. 3703(5), 3704(a)(2)(A), 3712, and 3713(d)), by
inserting ``and Technology'' after ``National Science'';
(2) in section 9 (15 U.S.C. 3707)--
(A) in the section heading, by inserting ``and technology''
after ``national science'';
(B) in each of subsections (a) and (b), by striking
``National Science Foundation'' and inserting ``National
Science and Technology Foundation''; and
(C) in subsection (c)--
(i) by striking ``National Science Foundation in'' and
inserting ``National Science and Technology Foundation in'';
and
(ii) by striking ``National Science Foundation under'' and
inserting ``National Science and Technology Foundation
under''; and
(3) in section 10 (15 U.S.C. 3708), by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation''.
(v) Cyber Security Research and Development Act.--The Cyber
Security Research and Development Act (15 U.S.C. 7401 et
seq.) is amended--
(1) in section 3(1) (15 U.S.C. 7402(1)), by inserting ``and
Technology'' after ``National Science'';
(2) in section 5 (15 U.S.C. 7404)--
(A) in the section heading, by inserting ``and technology''
after ``national science'';
(B) in subsection (c)(4), by inserting ``and Technology''
after ``National Science''; and
(C) in subsection (d), by striking ``National Science
Foundation's'' and inserting ``National Science and
Technology Foundation's''; and
(3) in section 13 (15 U.S.C. 7409), by striking ``National
Science Foundation'' each place the term appears and
inserting ``National Science and Technology Foundation''.
(w) National Superconductivity and Competitiveness Act of
1988.--Section 6 of the National Superconductivity and
Competitiveness Act of 1988 (15 U.S.C. 5205) is amended by
inserting ``and Technology'' after ``National Science''.
(x) Weather Research and Forecasting Innovation Act of
2017.--Each of sections 105 and 402(a)(1) of the Weather
Research and Forecasting Innovation Act of 2017 (15 U.S.C.
8515, 8542(a)(1)) are amended by inserting ``and Technology''
after ``National Science''.
______
By Mr. THUNE:
S.J. Res. 74. A joint resolution requesting the Secretary of the
Interior to authorize a unique and 1-time arrangement for certain
displays on Mount Rushmore National Memorial relating to the centennial
of the ratification of the 19th Amendment to the Constitution of the
United States during the period beginning August 18, 2020, and ending
on September 30, 2020; to the Committee on Energy and Natural
Resources.
Mr. THUNE. Mr. President, I ask unanimous consent that the text of
the joint resolution be printed in the Record.
There being no objection, the text of the joint resolution was
ordered to be printed in the Record, as follows:
S.J. Res. 74
Whereas, on May 21, 1919, the House of Representatives
adopted House Joint Resolution 1, 66th Congress, proposing an
amendment to the Constitution extending the right of suffrage
to women;
Whereas, on June 4, 1919, the Senate adopted House Joint
Resolution 1, 66th Congress, sending to the States for
ratification the 19th Amendment to the Constitution of the
United States;
[[Page S2605]]
Whereas, on August 18, 1920, the 36th State approved the
19th Amendment to the Constitution of the United States,
satisfying the constitutional threshold of passage in 3/4 of
the States;
Whereas, on August 26, 1920, Secretary of State Bainbridge
Colby certified the 19th Amendment to the Constitution of the
United States;
Whereas section 431(a)(3) of the Department of the
Interior, Environment, and Related Agencies Appropriations
Act, 2017 (Public Law 115-31; 131 Stat. 502), enacted into
law S. 847, 115th Congress (as introduced on April 5, 2017),
which established the Women's Suffrage Centennial Commission
``to ensure a suitable observance of the centennial of the
passage and ratification of the 19th Amendment to the
Constitution of the United States providing for women's
suffrage'';
Whereas August 18, 2020, marks the centennial of the
ratification of the 19th Amendment to the Constitution of the
United States by 3/4 of the States;
Whereas August 26, 2020, marks the centennial of the 19th
Amendment becoming a part of the Constitution of the United
States; and
Whereas the centennial anniversary of the ratification of
the 19th Amendment to the Constitution of the United States
providing for women's suffrage should be honored and
celebrated: Now, therefore, be it
Resolved by the Senate and House of Representatives of the
United States of America in Congress assembled, That
Congress--
(1) requests the Secretary of the Interior to authorize a
unique and 1-time arrangement to commemorate the centennial
of the passage of the 19th Amendment to the Constitution of
the United States entitled ``LOOK UP TO HER at Mount
Rushmore'' with a display of historical artifacts, digital
content, film footage, and associated historical audio and
imagery in and around the vicinity of the Mount Rushmore
National Memorial, including projected onto the surface of
the Mount Rushmore National Memorial to the left and right of
the sculpture for 14 nights of public display during the
period beginning on August 18, 2020, and ending on September
30, 2020; and
(2) respectfully requests that the Secretary of the Senate
transmit an enrolled copy of this resolution to--
(A) the Secretary of the Interior; and
(B) the Lincoln Borglum Museum at the Mount Rushmore
National Memorial.
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