Innovation and Competitiveness Act

Innovation and Competitiveness Act - Business Activity Tax Simplification Act of 2006 - Amends federal law concerning the power of a state to impose a net income tax on income derived from interstate commerce to extend the exemption from such tax with respect to solicitations for, and sales of, tangible personal property shipped from outside the state to all other forms of property, services, and other transactions fulfilled from a point outside the state. Makes such net income tax prohibitions applicable to other business activity taxes specified by this Act. Prohibits imposing a net income tax or other business activity tax on a person's activities in interstate commerce unless such person has a physical presence in the state during the taxable period with respect to which the tax is imposed.

Lawsuit Abuse Reduction Act of 2006- Amends Rule 11 of the Federal Rules of Civil Procedure (Signing of Pleadings, Motions, and Other Papers; Representations to Court; Sanctions) with respect to mandatory court sanctions for frivolous lawsuits and award of attorney's fees to parties prevailing on Rule 11 motions. Applies Rule 11 to state civil actions that substantially affect interstate commerce. Requires personal injury claims filed in state or federal court to be filed in the county or federal district meeting specified requirements.

Requires a federal district court to suspend from the practice of law for one year (or longer, at the court's discretion) an attorney found to have violated Rule 11 three or more times. Establishes a rebuttable presumption that an attempt to litigate a claim or defense involving the same plaintiff and defendant that has been litigated and lost on three consecutive prior occasions is a Rule 11 violation. Imposes additional sanctions for the willful and intentional destruction of documents highly relevant to a federal court proceeding. Requires public disclosure of the record of a Rule 11 proceeding, except in specified circumstances.

Amends the Higher Education Act of 1965 to replace the Robert C. Byrd Honors Scholarship program with an Innovation Scholarship program. Authorizes the Secretary of Education to: (1) award funds to a private nonprofit organization to administer, through a public-private partnership, a Mathematics and Science Honors Scholarships program for postsecondary and graduate students who commit to five consecutive years of service in a science, engineering, or mathematics field; (2) cover the student loan interest obligations of mathematics, science, or engineering professionals and elementary and secondary school teachers who commit to five consecutive years of service in such positions; and (3) award grants to states to establish, expand, or reform state mathematics and science education coordinating councils where education, business, and community leaders collaborate to improve teacher recruitment and training and student performance in science, technology, engineering, and mathematics.

Investment in America Act of 2006 - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities; (2) increase the rates of the alternative incremental tax credit for research activities; and (3) allow a taxpayer to elect an alternative simplified tax credit for certain research expenses.

Health Care Choice Act of 2006 - Amends the Public Health Service Act to apply the laws of the primary state (as designated by the health insurance issuer) to individual health insurance coverage offered by that issuer in both the primary state and any secondary state if the coverage and issuer meet certain requirements.

Health Information Technology Promotion Act of 2006 - Amends the Public Health Service Act to establish the Office of the National Coordinator for Health Information Technology to oversee the nationwide implementation of interoperable health information technology.

Amends title XI of the Social Security Act to provide for establishment of uniform confidentiality and security standards with respect to individually identifiable patient health information.

Prohibits the Federal Communications Commission (FCC) from taking any action to impede the development of seamless mobility (the ability of a user and a user's connecting devices to move easily among Internet-protocol enabled technology platforms, facilities, and networks).