HR 8745 116th Congress House Commerce Advanced technology and technological innovations Agricultural practices and innovations Aviation and airports Business investment and capital Competitiveness, trade promotion, trade deficits Computers and information technology Education programs funding Employment and training programs Government lending and loan guarantees Health programs administration and funding Health technology, devices, supplies Higher education Housing and community development funding Income tax credits Infrastructure development Manufacturing Medical research Minority and disadvantaged businesses Minority education

Innovation Centers Acceleration Act

Introduced: November 12, 2020 Introduced by: Morelle, Joseph D. Democratic · New York See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Nov 13, 2020

Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Nov 12, 2020

Referred to the Committee on Science, Space, and Technology, and in addition to the Committees on Small Business, Education and Labor, Energy and Commerce, Transportation and Infrastructure, Ways and Means, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Nov 12, 2020

Introduced in House

Plain-English summary Congressional Research Service

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. The bill also makes it easier for 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.

What's happening now November 13, 2020

Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Committees of jurisdiction 8