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Innovation Centers Acceleration Act

USA116th CongressS-4624| Senate 
| Updated: 9/17/2020
Christopher A. Coons

Christopher A. Coons

Democratic Senator

Delaware

Cosponsors (1)
Richard J. Durbin (Democratic)

Health, Education, Labor, and Pensions Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Innovation Centers Acceleration Act This bill provides a program to advance economic development by designating nine cities as innovation centers—increasing funding for research and development—and providing and modifying certain related grants. It also establishes the Innovation Center Selection Committee to designate these cities. The innovation center designation entitles participating cities—and the businesses, research institutions, and other organizations that operate within them—to various federal funding and benefits for research activities, business and workforce development, and transportation infrastructure projects. These benefits include expanding various tax credits and incentives for businesses and enabling those businesses to access loans and other financial instruments to raise capital. In addition, the bill establishes a grant program for local and tribal governments that partner with innovation centers to develop and preserve affordable housing. It also modifies existing grants, loans, and other programs that support transportation infrastructure to specifically target initiatives in innovation centers.
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Timeline
Sep 17, 2020
Introduced in Senate
Sep 17, 2020
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Nov 13, 2020

Latest Companion Bill Action

HR 116-8745
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
  • September 17, 2020
    Introduced in Senate


  • September 17, 2020
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.


  • November 13, 2020

    Latest Companion Bill Action

    HR 116-8745
    Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Commerce

Related Bills

  • HR 116-8745: Innovation Centers Acceleration Act
Advanced technology and technological innovationsAgricultural practices and innovationsAviation and airportsBusiness investment and capitalCompetitiveness, trade promotion, trade deficitsComputers and information technologyEducation programs fundingEmployment and training programsGovernment lending and loan guaranteesHealth programs administration and fundingHealth technology, devices, suppliesHigher educationHousing and community development fundingIncome tax creditsInfrastructure developmentManufacturingMedical researchMinority and disadvantaged businessesMinority educationMinority employmentPublic-private cooperationResearch administration and fundingResearch and developmentRoads and highwaysSecuritiesSmall businessSpacecraft and satellitesStudent aid and college costsTransportation programs fundingUnemploymentWages and earnings

Innovation Centers Acceleration Act

USA116th CongressS-4624| Senate 
| Updated: 9/17/2020
Innovation Centers Acceleration Act This bill provides a program to advance economic development by designating nine cities as innovation centers—increasing funding for research and development—and providing and modifying certain related grants. It also establishes the Innovation Center Selection Committee to designate these cities. The innovation center designation entitles participating cities—and the businesses, research institutions, and other organizations that operate within them—to various federal funding and benefits for research activities, business and workforce development, and transportation infrastructure projects. These benefits include expanding various tax credits and incentives for businesses and enabling those businesses to access loans and other financial instruments to raise capital. In addition, the bill establishes a grant program for local and tribal governments that partner with innovation centers to develop and preserve affordable housing. It also modifies existing grants, loans, and other programs that support transportation infrastructure to specifically target initiatives in innovation centers.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 17, 2020
Introduced in Senate
Sep 17, 2020
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Nov 13, 2020

Latest Companion Bill Action

HR 116-8745
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
  • September 17, 2020
    Introduced in Senate


  • September 17, 2020
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.


  • November 13, 2020

    Latest Companion Bill Action

    HR 116-8745
    Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Christopher A. Coons

Christopher A. Coons

Democratic Senator

Delaware

Cosponsors (1)
Richard J. Durbin (Democratic)

Health, Education, Labor, and Pensions Committee

Commerce

Related Bills

  • HR 116-8745: Innovation Centers Acceleration Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Advanced technology and technological innovationsAgricultural practices and innovationsAviation and airportsBusiness investment and capitalCompetitiveness, trade promotion, trade deficitsComputers and information technologyEducation programs fundingEmployment and training programsGovernment lending and loan guaranteesHealth programs administration and fundingHealth technology, devices, suppliesHigher educationHousing and community development fundingIncome tax creditsInfrastructure developmentManufacturingMedical researchMinority and disadvantaged businessesMinority educationMinority employmentPublic-private cooperationResearch administration and fundingResearch and developmentRoads and highwaysSecuritiesSmall businessSpacecraft and satellitesStudent aid and college costsTransportation programs fundingUnemploymentWages and earnings