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S. 4624 116th Congress Senate

Innovation Centers Acceleration Act

Official title: A bill to strengthen American economic resiliency and equitably expand economic opportunity by launching a national competition, promoting State and local stra… Show full official titleShow less

Official title: A bill to strengthen American economic resiliency and equitably expand economic opportunity by launching a national competition, promoting State and local strategic planning, encouraging innovation by the public and private sectors, and by substantially investing Federal resources in research and development.

Introduced: September 17, 2020 Introduced by: Christopher A. Coons Democratic · Delaware See on congress.gov
Commerce Advanced technology and technological innovationsAgricultural practices and innovationsAviation and airportsBusiness investment and capital
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Competitiveness, 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
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 17, 2020
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Sep 17, 2020
Introduced in Senate
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 Latest action September 17, 2020

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 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 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.

 Related & companion bills 1
  • HR 8745 Identical bill Innovation Centers Acceleration Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Sep 17, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4624: Innovation Centers Acceleration Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-4624/
MLA
"S. 4624: Innovation Centers Acceleration Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-4624/.
Bluebook (legal)
S. 4624, 116th Cong. (2026), https://openamerica.io/bill/116-S-4624/.
Markdown link
[S. 4624: Innovation Centers Acceleration Act](https://openamerica.io/bill/116-S-4624/)
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