Science Parks Research and Innovative New Technologies Act - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to direct the Secretary of Commerce to award grants for the development of feasibility studies and plans for the construction of new or the expansion, including renovation and modernization, of existing science parks.
Allows the Secretary to guarantee up to 80% of the loan amount for projects for the construction or the expansion, including renovation and modernization, of such infrastructure.
Directs the Secretary to enter into an agreement with the Board on Science, Technology, and Economic Policy of the National Academy of Sciences (NAS) under which the Board shall: (1) conduct an evaluation of such development under this Act; and (2) review and recommend best practices for the development of U.S. science parks, including metrics for their success.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4413 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 4413
To provide grants and loan guarantees for the development and
construction of science parks to promote the clustering of innovation
through high technology activities.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 12, 2010
Ms. Giffords (for herself and Mr. Heinrich) introduced the following
bill; which was referred to the Committee on Science and Technology
_______________________________________________________________________
A BILL
To provide grants and loan guarantees for the development and
construction of science parks to promote the clustering of innovation
through high technology activities.
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 ``Science Parks Research and
Innovative New Technologies Act''.
SEC. 2. DEVELOPMENT OF SCIENCE PARKS.
(a) Finding.--Section 2 of the Stevenson-Wydler Technology
Innovation Act of 1980 (15 U.S.C. 3701) is amended by adding at the end
the following:
``(12) It is in the best interests of the Nation to
encourage the formation of science parks to promote the
clustering of innovation through high technology activities.''.
(b) Definition.--Section 4 of such Act (15 U.S.C. 3703) is amended
by adding at the end the following:
``(12) `Brownfield' means abandoned, idled, or underused
industrial or commercial real property on which expansion or
redevelopment is complicated by real or perceived environmental
contamination.
``(13) `Business or industrial park' means a primarily for-
profit real estate venture of businesses or industries which do
not necessarily reinforce each other through supply chain or
technology transfer mechanisms.
``(14) `Cluster' means a group of competing, collaborating,
and interdependent businesses that--
``(A) work in a common industry;
``(B) are concentrated in a geographic region;
``(C) draw on shared infrastructure and a pool of
skilled workers; and
``(D) represent the specialization and comparative
advantage of the region.
``(15) `Science park'--
``(A) means a centralized or regionally distributed
group of interrelated companies and institutions,
including suppliers, service providers, institutions of
higher education, Federal or State laboratories, start-
up incubators, clusters, and trade associations that--
``(i) foster knowledge flow and contribute
to regional economic growth and development;
``(ii) cooperate and compete with each
other through physical connectivity or
networked virtual parks where technologies
cluster, including companies, researchers, and
community college workforce training
activities; and
``(iii) are located in a specific area or
region that promotes real estate development or
knowledge-based enterprises, technology
transfer, and partnerships between such
companies and institutions;
``(B) includes a science park, research park,
technology park, research and development park,
research and technology park, and science and
technology park; and
``(C) does not include a business or industrial
park.
``(16) `Science park infrastructure' means facilities that
support the daily economic activity of a science park.''.
(c) Science Parks.--The Stevenson-Wydler Technology Innovation Act
of 1980 (15 U.S.C. 3701 et seq.) is amended by adding at the end the
following:
``SEC. 24. SCIENCE PARKS.
``(a) Development of Plans for Construction of Science Parks.--
``(1) In general.--The Secretary shall award grants for the
development of feasibility studies and plans for the
construction of new science parks or the expansion, including
renovation and modernization, of existing science parks.
``(2) Limitation on amount of grants.--The amount of a
grant awarded under this subsection may not exceed $750,000.
``(3) Award.--
``(A) Competition required.--The Secretary shall
award grants under this subsection pursuant to a full
and open competition.
``(B) Geographic dispersion.--The Secretary is
encouraged to divide the grants awarded under this
subsection among low-, medium-, and high-population
density States.
``(C) Advertising.--The Secretary shall advertise
any competition under this paragraph in the Commerce
Business Daily.
``(D) Selection criteria.--The Secretary shall
publish the criteria to be utilized in any competition
under this paragraph for the selection of recipients of
grants under this subsection, which shall include
requirements relating to--
``(i) the effect the science park will have
on regional economic growth and development;
``(ii) the number of jobs to be created at
the science park and in the surrounding
regional community each year during its first 5
years;
``(iii) the funding to be required to
construct or expand, including renovating or
modernizing, the science park during its first
5 years;
``(iv) the amount and type of financing and
access to capital available to the applicant;
``(v) the types of businesses and research
entities expected in the science park and in
the surrounding regional community;
``(vi) letters of intent by businesses and
research entities to locate in the science
park;
``(vii) the quality of life for employees
at the science park;
``(viii) the capability to attract a well
trained workforce to the science park;
``(ix) the management of the science park;
``(x) expected financial risks in the
construction and operation of the science park
and the risk mitigation strategy;
``(xi) physical infrastructure available to
the science park, including roads, utilities,
and telecommunications;
``(xii) the utilization of energy efficient
building technology, including nationally
recognized green building design practices,
renewable energy, cogeneration, and other
methods that increase energy efficiency and
conservation;
``(xiii) consideration of the
transformation of military bases affected by
the base realignment and closure process (BRAC)
or the redevelopment of existing buildings,
structures, or brownfield sites that are
abandoned, idled, or underused into single or
multiple building facilities for science and
technology companies and institutions;
``(xiv) the ability to collaborate with
other science parks throughout the world; and
``(xv) other criteria prescribed by the
Secretary.
``(4) Authorization of appropriations.--There are
authorized to be appropriated $7,500,000 for each of the fiscal
years 2011 through 2015 to carry out this subsection.
``(b) Loan Guarantees for Science Park Infrastructure.--
``(1) In general.--Subject to paragraph (2), the Secretary
may guarantee up to 80 percent of the loan amount for projects
for the construction or expansion, including renovation and
modernization, of science park infrastructure.
``(2) Limitations on guarantee amounts.--The maximum amount
of loan principal guaranteed under this subsection may not
exceed--
``(A) $50,000,000 with respect to any single
project; and
``(B) $500,000,000 with respect to all projects.
``(3) Selection of guarantee recipients.--The Secretary
shall select recipients of loan guarantees under this
subsection based upon the ability of the recipient to
collateralize the loan amount through bonds, equity, property,
and other such criteria as the Secretary shall prescribe.
Entities receiving a grant under subsection (a) are not
eligible for a loan guarantee during the period of such grant.
``(4) Terms and conditions for loan guarantees.--The loans
guaranteed under this subsection shall be subject to such terms
and conditions as the Secretary may prescribe, except that--
``(A) the final maturity of such loans made or
guaranteed may not exceed the lesser of--
``(i) 30 years and 32 days; or
``(ii) 90 percent of the useful life of any
physical asset to be financed by such loan;
``(B) a loan made or guaranteed under this
subsection may not be subordinated to another debt
contracted by the borrower or to any other claims
against the borrowers in the case of default;
``(C) a loan may not be guaranteed under this
subsection unless the Secretary determines that the
lender is responsible and that adequate provision is
made for servicing the loan on reasonable terms and
protecting the financial interest of the United States;
``(D) a loan may not be guaranteed under this
subsection if--
``(i) the income from such loan is excluded
from gross income for purposes of chapter 1 of
the Internal Revenue Code of 1986; or
``(ii) the guarantee provides significant
collateral or security, as determined by the
Secretary, for other obligations the income
from which is so excluded;
``(E) any guarantee provided under this subsection
shall be conclusive evidence that--
``(i) the guarantee has been properly
obtained;
``(ii) the underlying loan qualified for
such guarantee; and
``(iii) absent fraud or material
misrepresentation by the holder, the guarantee
is presumed to be valid, legal, and
enforceable;
``(F) the Secretary shall prescribe explicit
standards for use in periodically assessing the credit
risk of new and existing direct loans or guaranteed
loans;
``(G) the Secretary may not extend credit
assistance unless the Secretary has determined that
there is a reasonable assurance of repayment; and
``(H) new loan guarantees may not be committed
except to the extent that appropriations of budget
authority to cover their costs are made in advance, as
required under section 504 of the Federal Credit Reform
Act of 1990 (2 U.S.C. 661c).
``(5) Payment of losses.--
``(A) In general.--If, as a result of a default by
a borrower under a loan guaranteed under this
subsection, after the holder has made such further
collection efforts and instituted such enforcement
proceedings as the Secretary may require, the Secretary
determines that the holder has suffered a loss, the
Secretary shall pay to such holder the percentage of
such loss specified in the guarantee contract. Upon
making any such payment, the Secretary shall be
subrogated to all the rights of the recipient of the
payment. The Secretary shall be entitled to recover
from the borrower the amount of any payments made
pursuant to any guarantee entered into under this
section.
``(B) Enforcement of rights.--The Attorney General
shall take such action as may be appropriate to enforce
any right accruing to the United States as a result of
the issuance of any guarantee under this section.
``(C) Forbearance.--Nothing in this section may be
construed to preclude any forbearance for the benefit
of the borrower which may be agreed upon by the parties
to the guaranteed loan and approved by the Secretary,
if budget authority for any resulting subsidy costs (as
defined in section 502(5) of the Federal Credit Reform
Act of 1990) is available.
``(D) Management of property.--Notwithstanding any
other provision of law relating to the acquisition,
handling, or disposal of property by the United States,
the Secretary may complete, recondition, reconstruct,
renovate, repair, maintain, operate, or sell any
property acquired by the Secretary pursuant to this
section.
``(6) Review.--Not later than 2 years after the date of the
enactment of this section, the Comptroller General of the
United States shall--
``(A) conduct a review of the subsidy estimates for
the loan guarantees under this subsection; and
``(B) submit to Congress a report on the review
conducted under this paragraph.
``(7) Termination.--A loan may not be guaranteed under this
subsection after September 30, 2015.
``(8) Authorization of appropriations.--There are
authorized to be appropriated--
``(A) $35,000,000 for the cost (as defined in
section 502(5) of the Federal Credit Reform Act of
1990) of guaranteeing $500,000,000 in loans under this
subsection; and
``(B) such sums as may be necessary for
administrative expenses in fiscal year 2011 and
thereafter.
``(c) National Academy of Sciences Evaluation.--
``(1) In general.--Not later than 18 months after the date
of the enactment of this Act, the Secretary shall enter into an
agreement with the Board on Science, Technology, and Economic
Policy of the National Academy of Sciences under which the
Board shall--
``(A) conduct an evaluation of the activities under
this section; and
``(B) review and recommend best practices for the
development of United States science parks, including
metrics for their success.
``(2) Report.--Under the agreement described in paragraph
(1), the Board shall submit a report to the Secretary that--
``(A) includes the Board's evaluation of science
park development under this section; and
``(B) may include such recommendations as the Board
considers appropriate for additional activities to
promote and facilitate the development of science parks
in the United States.
``(d) Tri-Annual Report.--Not later than March 31, 2014, and every
third year thereafter, the Secretary shall submit a report to Congress
that--
``(1) describes the activities under this section during
the preceding 3 years;
``(2) includes any recommendations made by the Board on
Science, Technology, and Economic Policy under subsection
(c)(2)(B) during such period; and
``(3) may include such recommendations for legislative or
administrative action as the Secretary considers appropriate to
further promote and facilitate the development of science parks
in the United States.
``(e) Rulemaking.--Not later than 1 year after the date of the
enactment of this section, the Secretary shall promulgate regulations
to carry out this section in accordance with Office of Management and
Budget Circular A-129, entitled `Policies for Federal Credit Programs
and Non-Tax Receivables'.''.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Science and Technology.
Referred to the Subcommittee on Technology and Innovation.
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