Economic Revitalization and Innovation Act of 2010 - Declares that: (1) assistance under this Act should be made available to distressed communities in both rural and urban areas and to promote sustainable economic development practices; (2) local communities should work in partnership with neighboring communities and other entities to develop strategies to alleviate economic distress and enhance competitiveness in the global economy; (3) distressed communities should be encouraged to take affirmative steps to promote innovation and entrepreneurship; and (4) research assistance under this Act should help regions across the United States leverage the economic assets of those regions in a comprehensive manner.
Adds to the definition of "Regional Commissions" the Southeast Crescent Regional Commission, Northern Border Regional Commission, and Southwest Border Regional Commission.
Title I: Economic Development Partnerships Cooperation and Coordination - (Sec. 101) Amends the Public Works and Economic Development Act of 1965 (PWDA) to identify economic development districts and university centers as nonprofit organizations that provide technical assistance to states and other entities to advance economic development activities.
(Sec. 102) Authorizes and encourages the Secretary of Commerce to consult and cooperate with federal, state, and local entities in supporting economic and workforce development and in promoting regional innovation clusters.
(Sec. 103) Requires the Secretary to coordinate activities with the Department of Transportation (DOT) and other relevant entities to leverage and maximize the economic development potential of federal investments in high-speed rail projects.
Title II: Grants for Public Works and Economic Development - (Sec. 201) Expands the definition of "development facility" under PWDA to include a facility of a business incubator or a science and research park.
(Sec. 202) Includes as an eligible use of Economic Development Authority (EDA) grant funds indirect administrative costs and innovation and regional collaboration activities. Adds sustainable development practices as a consideration in the comprehensive planning process.
(Sec. 203) Allows the Secretary to consider a decline in tax revenues as a factor in waiving the local cost sharing requirement for receipt of EDA grants.
(Sec. 204) Includes the alleviation or prevention of outmigration as an eligible grant purpose for training, research, or technical grant assistance.
Requires the Secretary to ensure that the activities of a university center include conducting research and providing technical assistance to leverage and maximize the economic development potential of federal investments in high-speed rail projects.
(Sec. 205) Establishes a new EDA grant program for the development of a feasibility study or development plan with respect to a science and research park development project and to make loan guarantees to carry out a business incubator or a science and research park development project.
(Sec. 206) Identifies science and research park projects, challenge grants, and operating support for business incubators as eligible activities for economic adjustment grant assistance.
(Sec. 207) Authorizes the Secretary to provide technical assistance, make grants, enter into contracts, or otherwise provide funding for a project to: (1) promote energy efficiency to enhance the economic competitiveness of an area; (2) increase the use of renewable energy technologies; (3) support energy efficiency or alternative emergency development plans, studies, or analysis; and (4) support the efforts of a community to relocate a technology or manufacturing business to the United States.
(Sec. 208) Requires public works and economic development grant recipients to establish job creation goals. Authorizes the Secretary to impose a penalty on grantees who fail to satisfy such goals.
(Sec. 209) Requires the Secretary to ensure non-competition between communities for the relocation of businesses from one community to another using EDA funds.
Title III: Eligibility; Comprehensive Economic Development Strategies - (Sec. 301) Expands criteria for determining the eligibility of an area for economic assistance based upon a special need. Allows the Secretary to consider whether such area has been affected by the loss of a substantial employer, substantial outmigration or population loss, substantial foreclosure rates, substantial underemployment, military base or defense installation closure, realignment, or mission growth, a natural or other disaster or emergency, substantial natural resource depletion, substantial negative effects resulting from changing trade patterns, or other circumstances that the Secretary determines are indicative of special or extraordinary unemployment or economic adjustment problems.
(Sec. 302) Expands the scope of comprehensive economic development strategies to include the identification of economic opportunities for a community. Requires the Secretary to notify an eligible recipient of the approval or disapproval of a comprehensive economic development strategy or other plan within 60 days of the receipt of such strategy or plan.
Title IV: Economic Development Districts - (Sec. 401) - Modifies criteria for designation of economic development districts to provide for projects with national and regional significance. Sets forth specific activities required to maintain such designation. Authorizes the Secretary to review such designations for purposes of combining or terminating districts.
Title V: Administration - (Sec. 501) Authorizes the Secretary to consult any persons on outmigration issues, including representatives of labor, management, agriculture, and government.
(Sec. 502) Requires performance evaluations of university centers at least once every five years (currently, once every three years). Revises evaluation criteria for university centers to require an assessment of their contributions in providing technical assistance and conducting applied research and in leveraging and maximizing the economic development potential of federal investments in high-speed rail projects.
(Sec. 503) Requires the Secretary to ensure that EDA employs no fewer than 35 economic development representatives in FY2012 and no fewer than 40 such employees in FY2013 and each fiscal year thereafter.
(Sec. 504) Limits to five the number of EDA positions that may be filled by noncareer appointees, beginning in FY2012.
Title VI: Miscellaneous - (Sec. 601) Requires the Secretary to include in the annual report to Congress on activities under PWDA detailed information on the activities of university centers and information on projects funded in conjunction with one or more regional commissions.
(Sec. 602) Allows recipients of construction grants that are more than 10 years old to buy out the government's interest at a reduced rate.
Title VII: Funding - (Sec. 701) Authorizes appropriations for FY2011-FY2015 for economic development assistance programs (EDAP) and for salaries and expenses in FY2011 and for each fiscal year thereafter.
(Sec. 702) Allocates EDAP funding for grants for planning and administrative expenses.
(Sec. 703) Authorizes appropriations for the science and research park grant program and for loan guarantees.
(Sec. 704) Allocates EDAP funding for the sustainable economic development program.
(Sec. 705) Allocates EDAP funding for training, research, and technical assistance, including funding to support existing and new university centers.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5897 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 5897
To reauthorize and improve programs and activities carried out under
the Public Works and Economic Development Act of 1965, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 28, 2010
Mr. Oberstar (for himself, Ms. Norton, Mr. Rahall, Mr. Filner, Ms.
Eddie Bernice Johnson of Texas, Mr. Cummings, Mr. Bishop of New York,
Mr. Carnahan, Ms. Hirono, Mr. Arcuri, Mr. Kagen, Ms. Richardson, Mr.
Hare, and Mr. Johnson of Georgia) introduced the following bill; which
was referred to the Committee on Transportation and Infrastructure, and
in addition to the Committee on 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
_______________________________________________________________________
A BILL
To reauthorize and improve programs and activities carried out under
the Public Works and Economic Development Act of 1965, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Economic
Revitalization and Innovation Act of 2010''.
(b) Table of Contents.--
Sec. 1. Short title; table of contents.
Sec. 2. Amendments to Public Works and Economic Development Act of
1965.
Sec. 3. Findings and declarations.
Sec. 4. Definitions.
TITLE I--ECONOMIC DEVELOPMENT PARTNERSHIPS COOPERATION AND COORDINATION
Sec. 101. Establishment of economic development partnerships.
Sec. 102. Encouragement of certain coordination.
Sec. 103. Coordination with respect to high-speed rail.
TITLE II--GRANTS FOR PUBLIC WORKS AND ECONOMIC DEVELOPMENT
Sec. 201. Grants for public works and economic development.
Sec. 202. Grants for planning and grants for administrative expenses.
Sec. 203. Cost sharing.
Sec. 204. Grants for training, research, and technical assistance.
Sec. 205. Financial assistance for business incubators and science and
research parks.
Sec. 206. Grants for economic adjustment.
Sec. 207. Sustainable economic development demonstration program.
Sec. 208. Job creation goals.
Sec. 209. Prohibition with respect to use of assistance.
TITLE III--ELIGIBILITY; COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGIES
Sec. 301. Eligibility of areas.
Sec. 302. Comprehensive economic development strategies.
TITLE IV--ECONOMIC DEVELOPMENT DISTRICTS
Sec. 401. Designation of economic development districts.
Sec. 402. Termination or modification of economic development
districts.
TITLE V--ADMINISTRATION
Sec. 501. Consultation with other persons and agencies.
Sec. 502. Performance evaluations of grant recipients.
Sec. 503. Economic development representatives.
Sec. 504. Limitation on certain positions.
TITLE VI--MISCELLANEOUS
Sec. 601. Annual report to Congress.
Sec. 602. Maintenance of effort.
TITLE VII--FUNDING
Sec. 701. General authorization of appropriations.
Sec. 702. Funding for grants for planning and grants for administrative
expenses.
Sec. 703. Funding for financial assistance for business incubators and
science and research parks.
Sec. 704. Funding for sustainable economic development demonstration
program.
Sec. 705. Funding for grants for training, research, and technical
assistance.
SEC. 2. AMENDMENTS TO PUBLIC WORKS AND ECONOMIC DEVELOPMENT ACT OF
1965.
Except as otherwise expressly provided, whenever in this Act an
amendment or repeal is expressed in terms of an amendment to, or a
repeal of, a section or other provision, the reference shall be
considered to be made to a section or other provision of the Public
Works and Economic Development Act of 1965 (42 U.S.C. 3121 et seq.).
SEC. 3. FINDINGS AND DECLARATIONS.
(a) Findings.--Section 2(a) (42 U.S.C. 3121(a)) is amended to read
as follows:
``(a) Findings.--Congress finds that--
``(1) sustainable economic growth in the 21st century
depends upon economic development strategies that include
investment in essential infrastructure that fosters innovation,
entrepreneurship, and competition in the global marketplace;
``(2) there continue to be areas of the United States
experiencing chronic high unemployment, underemployment,
outmigration, and low per capita income, as well as areas
facing sudden and severe economic dislocations due to
structural economic changes, increasing international
competition, certain Federal actions (including defense-related
facility closures and realignment and actions required to
counteract the depletion of natural resources), and natural
disasters;
``(3) the goal of Federal economic development programs is
to raise the standard of living for all citizens and increase
the wealth and overall rate of growth of the economy by
encouraging regions and communities to develop a more
competitive and diversified economic base, including by--
``(A) expanding economic opportunities, increasing
international competitiveness, and creating a climate
supportive of job creation and business development;
``(B) creating an environment that promotes public
infrastructure investments that maximize sustainable
development practices;
``(C) promoting private sector job creation through
increased innovation, productivity, and
entrepreneurship; and
``(D) empowering local and regional communities
experiencing chronic high unemployment,
underemployment, outmigration, and low per capita
income to develop private sector business and attract
increased domestic and foreign private sector capital
investment, including through the location of
information technology, agribusiness, alternative
energy, and manufacturing jobs in the United States and
the relocation of such jobs to the United States;
``(4) economic growth in the States, including in both
cities and rural areas, can best be promoted by helping
communities invest in regional strategies that build upon
unique competitive advantages and are designed to foster
innovation and entrepreneurship in all segments of the
community's economy;
``(5) while economic development is an inherently local
process, the Federal Government should work in partnership with
public and private organizations at the State, regional,
tribal, and local levels to maximize the impact of existing
resources and enable regions, communities, and citizens to
participate more fully in the American dream and national
prosperity;
``(6) in order to avoid duplication of effort and achieve
meaningful, long-lasting results, Federal, State, tribal, and
local economic development activities should have a clear
focus, improved coordination, a comprehensive approach, and
simplified and consistent requirements; and
``(7) Federal economic development efforts will be more
effective if the efforts are coordinated with, and build upon,
the trade, workforce investment, higher education,
transportation, energy, environmental protection, and
technology programs of the United States.''.
(b) Declarations.--Section 2(b) (42 U.S.C. 3121(b)) is amended to
read as follows:
``(b) Declarations.--In order to promote a strong and growing
economy throughout the United States, Congress declares that--
``(1) assistance under this Act should be made available to
distressed communities in both rural and urban areas;
``(2) local communities should work in partnership with
neighboring communities, economic development districts,
States, Indian tribes, institutions of higher education, the
private sector, and the Federal Government to increase the
capacity of those local communities to develop and implement
comprehensive economic development strategies to alleviate
economic distress and enhance competitiveness in the global
economy;
``(3) whether suffering from long-term distress or a sudden
dislocation, distressed communities should be encouraged to
take affirmative steps to promote innovation and
entrepreneurship, including through the formation of business
incubators, to help create higher skill, higher wage jobs and
foster the participation of those distressed communities in the
global marketplace;
``(4) assistance under this Act should be made available to
promote sustainable economic development practices, to assist
communities with the productive reuse of abandoned industrial
facilities and the redevelopment of brownfields, and to
leverage significant Federal investments in high-speed rail
corridors and other transportation infrastructure; and
``(5) research assistance under this Act should help
regions across the United States leverage the economic assets
of those regions in a comprehensive manner and should enhance
the Economic Development Administration's ability to provide an
economic development framework to assist distressed communities
and regions, with particular emphasis on revitalizing the
manufacturing and agribusiness industries and the linkages
between urban and rural communities.''.
SEC. 4. DEFINITIONS.
Section 3(8) (42 U.S.C. 3122(8)) is amended--
(1) in subparagraph (C) by striking ``and'' at the end;
(2) in subparagraph (D) by striking the period at the end
and inserting a semicolon; and
(3) by adding at the end the following:
``(E) the Southeast Crescent Regional Commission
established under section 15301(a) of title 40, United
States Code;
``(F) the Northern Border Regional Commission
established under section 15301(a) of title 40, United
States Code; and
``(G) the Southwest Border Regional Commission
established under section 15301(a) of title 40, United
States Code.''.
TITLE I--ECONOMIC DEVELOPMENT PARTNERSHIPS COOPERATION AND COORDINATION
SEC. 101. ESTABLISHMENT OF ECONOMIC DEVELOPMENT PARTNERSHIPS.
(a) Technical Assistance.--Section 101(b) (42 U.S.C. 3131(b)) is
amended--
(1) in the matter preceding paragraph (1) by inserting
after ``nonprofit organizations'' the following: ``, including
economic development districts and university centers,''; and
(2) by striking paragraphs (2) and (3) and inserting the
following:
``(2) encourage and support public-private partnerships for
the formation and improvement of economic development
strategies, including regional strategies, that sustain and
promote innovation and entrepreneurship that is critical to
economic competitiveness throughout the United States; and
``(3) promote investment in infrastructure, innovation,
entrepreneurship, sustainable development, and technological
capacity (including with respect to advanced technologies in
all industry sectors) to keep pace with the changing global
economy.''.
(b) Intergovernmental Review.--Section 101(c) (42 U.S.C. 3131(c))
is amended by inserting after ``government agencies'' the following:
``and appropriate economic development districts''.
SEC. 102. ENCOURAGEMENT OF CERTAIN COORDINATION.
(a) In General.--Title I (42 U.S.C. 3131 et seq.) is amended by
adding at the end the following:
``SEC. 104. ENCOURAGEMENT OF CERTAIN COORDINATION.
``In carrying out this Act, the Secretary is authorized and
encouraged to consult and cooperate with any Federal, State, or local
government agency or consortium of governmental organizations that can
assist in addressing challenges and capitalizing on opportunities that
require coordination, including the Department of Labor with respect to
supporting economic and workforce development strategies and promoting
regional innovation clusters.''.
(b) Clerical Amendment.--The table of contents in section 1(b) is
amended by inserting after the item relating to section 103 the
following:
``Sec. 104. Encouragement of certain coordination.''.
SEC. 103. COORDINATION WITH RESPECT TO HIGH-SPEED RAIL.
(a) In General.--Title I (42 U.S.C. 3131 et seq.), as amended by
this Act, is further amended by adding at the end the following:
``SEC. 105. COORDINATION WITH RESPECT TO HIGH-SPEED RAIL.
``The Secretary shall coordinate activities carried out under this
Act, as appropriate, with the Department of Transportation and other
relevant Federal agencies, State and local governments, economic
development districts, Indian tribes, and planning and development
organizations to leverage and maximize the economic development
potential of Federal investments in high-speed rail projects. In
carrying out this section, the Secretary shall conduct studies and
disseminate reports, as appropriate, with respect to high-speed rail
projects.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 104 the following:
``Sec. 105. Coordination with respect to high-speed rail.''.
TITLE II--GRANTS FOR PUBLIC WORKS AND ECONOMIC DEVELOPMENT
SEC. 201. GRANTS FOR PUBLIC WORKS AND ECONOMIC DEVELOPMENT.
Section 201(a)(1) (42 U.S.C. 3141(a)(1)) is amended by inserting
after ``development facility'' the following: ``(including a facility
of a business incubator or a science and research park (as such terms
are defined in section 208(a))''.
SEC. 202. GRANTS FOR PLANNING AND GRANTS FOR ADMINISTRATIVE EXPENSES.
(a) In General.--Section 203(a) (42 U.S.C. 3143(a)) is amended by
inserting after ``administrative expenses'' the following: ``(including
indirect costs determined eligible in an applicable Office of
Management and Budget circular)''.
(b) Planning Process.--Section 203(b) (42 U.S.C. 3143(b)) is
amended--
(1) in paragraph (3) by striking ``and'' at the end;
(2) in paragraph (4) by striking ``and increase incomes.''
and inserting ``and systemic economic distress and increase
incomes by fostering entrepreneurship and innovation across all
regional industry sectors; and''; and
(3) by adding at the end the following:
``(5) fostering regional collaboration.''.
(c) State Plans.--Section 203(d)(4) (42 U.S.C. 3143(d)(4)) is
amended--
(1) in the matter preceding subparagraph (A) by inserting
after ``public works'' the following: ``and other types of
assistance'';
(2) in subparagraph (C) by inserting after ``environment''
the following: ``, including through efficient energy
production, utilization, and facility development'';
(3) in subparagraph (E)--
(A) by inserting after ``use'' the following: ``and
deployment''; and
(B) by striking ``and'' at the end;
(4) in subparagraph (F) by striking the period at the end
and inserting ``; and''; and
(5) by adding at the end the following:
``(G) support sustainable development practices and
the efficient coordination and leveraging of public and
private investments.''.
SEC. 203. COST SHARING.
Section 204(c) (42 U.S.C. 3144(c)) is amended--
(1) in paragraph (2) by inserting after ``State or
political subdivision'' the following: ``or that the Secretary
determines has been affected by substantial declines in tax
revenue''; and
(2) in paragraph (3)--
(A) in the heading by striking ``Training'' and
inserting ``Planning, training'';
(B) by striking ``section 207'' and inserting
``section 203 or 207''; and
(C) by inserting after ``such an increase'' the
following: ``or if grant supported activities will
include regional planning to build on competitive
advantages available regionally''.
SEC. 204. GRANTS FOR TRAINING, RESEARCH, AND TECHNICAL ASSISTANCE.
(a) Grants.--Section 207(a)(1) (42 U.S.C. 3147(a)(1)) is amended by
striking ``or underemployment'' and inserting ``, underemployment, or
outmigration''.
(b) Types of Assistance.--Section 207(a)(2) (42 U.S.C. 3147(a)(2))
is amended--
(1) in subparagraph (D) by inserting after ``centers'' the
following: ``, with the goal that at least one university
center is established in each State''; and
(2) by striking subparagraphs (H) and (I) and inserting the
following:
``(H) studies that evaluate the effectiveness of
regional innovation clusters and determine best
practices with respect to the support provided by
entrepreneurial infrastructure, including business
incubators;
``(I) a peer exchange program to promote best
practices and innovation with respect to the
organizational development, program delivery, and
regional initiatives of economic development districts;
``(J) development and promotion of performance
measures and best practices with respect to
commercialization and entrepreneurship; and
``(K) other activities determined by the Secretary
to be appropriate.''.
(c) High-Speed Rail.--Section 207(a) (42 U.S.C. 3147(a)) is amended
by adding at the end the following:
``(4) High-speed rail.--In making a grant under this
subsection for the establishment of a university center, the
Secretary shall ensure, if appropriate, that the activities of
the center will include conducting research and providing
technical assistance to leverage and maximize the economic
development potential of Federal investments in high-speed rail
projects.''.
SEC. 205. FINANCIAL ASSISTANCE FOR BUSINESS INCUBATORS AND SCIENCE AND
RESEARCH PARKS.
(a) In General.--Title II (42 U.S.C. 3141 et seq.) is amended by
inserting after section 207 the following:
``SEC. 208. FINANCIAL ASSISTANCE FOR BUSINESS INCUBATORS AND SCIENCE
AND RESEARCH PARKS.
``(a) Definitions.--In this section, the following definitions
apply:
``(1) Business incubator.--The term `business incubator'
means a program established to foster the creation of new
businesses and accelerate the growth of early-stage businesses
by providing entrepreneurs and early-stage businesses with the
resources and services to produce viable businesses that can
help create jobs in and restore vitality to communities.
``(2) Business incubator development project.--The term
`business incubator development project' means a project to
construct or alter facilities for a business incubator,
including the acquisition of real property necessary to carry
out the construction or alteration.
``(3) Science and research park.--The term `science and
research park' means a program that--
``(A) includes property and buildings designed
primarily for--
``(i) research and development activities
conducted by public-private partners;
``(ii) technology- and science-based
businesses; or
``(iii) research and development support
services;
``(B) includes a contractual relationship with one
or more institutions of higher education or government
or nonprofit research laboratories;
``(C) has a primary mission of--
``(i) promoting research and development
through industry partnerships, assisting the
growth of new ventures, and promoting
innovation-driven economic development;
``(ii) facilitating the transfer of
technology and business skills between
researchers and industry teams; and
``(iii) promoting technology-led economic
development for the community or region in
which the program is located; and
``(D) is owned by a government or nonprofit entity
(although the government or nonprofit entity may enter
into partnerships or joint ventures with for-profit
entities to develop or manage specific components of
the program).
``(4) Science and research park development project.--The
term `science and research park development project' means a
project to construct or alter facilities for a science and
research park, including the acquisition of real property
necessary to carry out the construction or alteration.
``(b) Financial Assistance.--On the application of an eligible
recipient, the Secretary may provide financial assistance in accordance
with this section to assist the development of business incubators and
science and research parks.
``(c) Grants for Plans for Science and Research Parks.--
``(1) Grant authority.--In accordance with this subsection,
the Secretary may award a grant to an eligible recipient for
the development of a feasibility study or development plan, or
both, with respect to a science and research park development
project.
``(2) Amount of a grant.--A grant awarded under paragraph
(1) may not be in an amount that exceeds $750,000.
``(3) Selection process.--
``(A) Selection criteria.--Not later than 180 days
after the date of enactment of the Economic
Revitalization and Innovation Act of 2010, the
Secretary shall publish the criteria to be utilized for
the selection of grant recipients under paragraph (1).
``(B) Competition required.--The Secretary shall
award grants under paragraph (1) pursuant to a full and
open competition.
``(C) Geographic diversity.--In awarding grants
under paragraph (1), the Secretary shall ensure, to the
extent practicable, that grant recipients represent
diverse geographic areas of the United States,
including rural and urban areas.
``(4) Program limit.--The Secretary may not award, in the
aggregate, more than $7,500,000 in grants under paragraph (1).
``(d) Loan Guarantees for Business Incubators and Science and
Research Parks.--
``(1) Guarantee authority.--In accordance with this
subsection, the Secretary may guarantee a loan of an eligible
recipient to assist the carrying out of a business incubator
development project or a science and research park development
project.
``(2) Guarantee percentage.--In guaranteeing a loan under
paragraph (1), the Secretary may guarantee up to 80 percent of
the principal amount of the loan.
``(3) Selection of guarantee recipients.--
``(A) Creditworthiness.--The Secretary may not
guarantee a loan under paragraph (1) unless the
Secretary has determined that there is a reasonable
assurance of repayment with respect to the loan.
``(B) Grant recipients.--A recipient of a grant
under subsection (c) for the development of a
feasability study or development plan, or both, is not
eligible for a loan guarantee under paragraph (1) until
the recipient has completed the study or plan, or both,
for which the grant was provided (as determined by the
Secretary).
``(4) Term of loan.--The term of a loan guaranteed under
paragraph (1) may not exceed the lesser of--
``(A) 30 years; or
``(B) 90 percent of the useful life of any physical
asset to be financed by such loan.
``(5) Subordination.--An obligation relating to a loan
guarantee under paragraph (1) may not be subordinated to
another debt contracted by the borrower or to any other claims
against the borrower in the case of default.
``(6) Other terms and conditions.--Except as otherwise
specified in this subsection, a loan guarantee under paragraph
(1) shall be subject to such terms and conditions as the
Secretary may prescribe.
``(7) Review.--
``(A) In general.--The Secretary shall periodically
assess the risks associated with loans guaranteed under
paragraph (1).
``(B) Comptroller general report.--Not later than 2
years after the date of enactment of the Economic
Revitalization and Innovation Act of 2010, the
Comptroller General shall--
``(i) conduct a comprehensive review of the
program under this subsection; and
``(ii) submit to Congress a report on the
results of the review.
``(8) Program levels.--In carrying out paragraph (1) during
fiscal years 2011 through 2015, the Secretary may not guarantee
loans in an amount that exceeds--
``(A) $50,000,000 for a single project;
``(B) $235,000,000 in a single fiscal year; and
``(C) $500,000,000 in the aggregate.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 207 the following:
``Sec. 208. Financial assistance for business incubators and science
and research parks.''.
SEC. 206. GRANTS FOR ECONOMIC ADJUSTMENT.
(a) In General.--Section 209(a) (42 U.S.C. 3149(a)) is amended--
(1) by inserting after ``public facilities,'' the
following: ``science and research park development projects (as
defined in section 208(a)),''; and
(2) by inserting after ``revolving loan fund'' the
following: ``, a challenge grant, and operating support for
business incubators (as defined in section 208(a))''.
(b) Particular Community Assistance.--Section 209(c) (42 U.S.C.
3149(c)) is amended--
(1) in the matter preceding paragraph (1) by striking
``injured'' and inserting ``affected'';
(2) in paragraph (1)--
(A) by striking ``or realignments,'' and inserting
``, realignments, or mission growth,''; and
(B) by inserting after ``their economies'' the
following: ``or supporting the economic adjustment
activities of the Secretary of Defense'';
(3) in paragraph (4) by striking ``or'' at the end;
(4) in paragraph (5)--
(A) by striking ``manufacturing jobs'' and
inserting ``manufacturing, information technology,
natural resource, agricultural, or service sector
jobs''; and
(B) by striking the period at the end and inserting
``; or''; and
(5) by adding at the end the following:
``(6) a lack of technology infrastructure, including
inadequate access to broadband capacity sufficient to support
economic development objectives;
``(7) an inability to utilize alternative means of energy
production and distribution; or
``(8) insufficient access to capital and credit necessary
for business retention and expansion, entrepreneurship, and
innovation.''.
(c) Special Provisions Relating to Revolving Loan Fund Grants.--
Section 209(d) (42 U.S.C. 3149(d)) is amended--
(1) in paragraph (2)--
(A) by redesignating subparagraphs (B) and (C) as
subparagraphs (C) and (D), respectively; and
(B) by inserting after subparagraph (A) the
following:
``(B) at the request of a grantee, approve the
transfer of all or a portion of the assets of a
revolving loan fund of the grantee to another eligible
recipient to assist in establishing or maintaining a
multiregion or national revolving loan fund;''; and
(2) by adding at the end the following:
``(5) Conversion of revolving loan fund assets.--
``(A) Authority.--At the request of a grant
recipient, the Secretary may approve the use of the
assets of a revolving loan fund established by the
grant recipient with assistance under this section for
another project, if--
``(i) the project is eligible for
assistance under this Act; and
``(ii) the Secretary determines that the
revolving loan fund is no longer necessary and
the grant recipient, as a result of changed
economic development needs, will make better
use of the assets by carrying out the project.
``(B) Methods of conversion.--If conversion of a
revolving loan fund is approved under subparagraph (A),
the applicable grant recipient may convert the assets
of the revolving loan fund by--
``(i) selling to a third party any assets
of the revolving loan fund; or
``(ii) retaining repayments of principal
and interest amounts made on loans provided
through the revolving loan fund.
``(C) Terms and conditions.--Except as otherwise
provided under this paragraph, the Secretary may
establish such terms and conditions with respect to the
conversion of a revolving loan fund under this
paragraph as the Secretary determines appropriate.
``(D) Expediency requirement.--The Secretary shall
ensure that any assets of a revolving loan fund
converted under this paragraph are used in an
expeditious manner.
``(6) Release.--The Secretary may release, subject to terms
and conditions the Secretary determines appropriate, the
Federal Government's interest in a revolving loan fund
established by a grant recipient with assistance under this
section on or after the date that is 7 years after the date on
which the applicable grant was fully disbursed, if the
Secretary determines that--
``(A) the grant recipient has carried out the terms
of the grant in a satisfactory manner;
``(B) any proceeds realized after the release of
the Federal Government's interest will be used for one
or more activities that carry out the economic
development purposes of this Act; and
``(C) the grant recipient will continue to satisfy
the requirements of section 602.
``(7) Equity investment demonstration program.--
``(A) Authority.--
``(i) In general.--To determine the
feasibility and utility of providing equity
investments through revolving loan funds
established by grant recipients with assistance
under this section, the Secretary may
authorize, at the request of a grant recipient,
the use of the capital base of a revolving loan
fund for equity investments in businesses in
need of capital to start up operations or
expand operations beyond the startup phase.
``(ii) Demonstrated capacity.--Before
authorizing a grant recipient to make equity
investments under clause (i), the Secretary
shall determine that the grant recipient has
the demonstrated capacity for engaging in
equity investments or will contract with
another company or organization with a proven
track record with respect to equity
investments.
``(iii) Preferential consideration.--In
authorizing grant recipients to make equity
investments under clause (i), the Secretary
shall give preferential consideration to
requests from grant recipients that intend to
focus their investment activities in support of
business incubators (as defined in section
208(a)), companies commercializing technologies
in conjunction with institutions of higher
education, science and research parks (as
defined in section 208(a)), or technology or
manufacturing companies relocating to the
United States from outside the United States.
``(iv) Geographic diversity.--In
authorizing grant recipients to make equity
investments under clause (i), the Secretary
shall ensure, to the extent practicable, that
grant recipients authorized represent diverse
geographic areas of the United States,
including rural and urban areas.
``(B) Requirements.--In authorizing a grant
recipient to make equity investments under subparagraph
(A)(i), the Secretary shall ensure that--
``(i) not more than 25 percent of the
capital base of the revolving loan fund of the
grant recipient will be used for equity
investments;
``(ii) the Federal share of the amount used
for an equity investment made by the grant
recipient will not exceed 50 percent; and
``(iii) the total amount of the equity
investments made by the grant recipient in any
one business will not exceed $250,000.
``(C) Other terms and conditions.--Except as
otherwise provided in this paragraph, the Secretary may
authorize grant recipients to make equity investments
under subparagraph (A)(i) subject to terms and
conditions the Secretary determines are appropriate.
``(D) Disposition of equity securities.--In the
event that the Secretary acquires equity securities as
a result of a default by any party under any agreement
relating to the terms of the Secretary's extension of
assistance under this paragraph, the Secretary shall
liquidate the Federal interest in such securities as
soon as possible and for such consideration as the
Secretary determines appropriate. The Secretary may
assign or transfer the securities to a third party for
purposes of liquidation and the third party may retain
proceeds from the disposition of the securities to
defray costs related to the liquidation.
``(E) Definitions.--In this paragraph the following
definitions apply:
``(i) Capital base.--The term `capital
base' means the amount of the funding, from a
grant under this section and from non-Federal
sources, initially provided to establish a
revolving loan fund under this section.
``(ii) Equity investment.--The term `equity
investment' means an investment of funds in a
business that results in the acquisition of an
equity security.
``(iii) Equity security.--The term `equity
security' means an instrument that signifies an
ownership interest in a business.''.
SEC. 207. SUSTAINABLE ECONOMIC DEVELOPMENT DEMONSTRATION PROGRAM.
(a) In General.--Section 218 (42 U.S.C. 3154d) is amended to read
as follows:
``SEC. 218. SUSTAINABLE ECONOMIC DEVELOPMENT DEMONSTRATION PROGRAM.
``(a) In General.--On the application of an eligible recipient, the
Secretary may provide technical assistance, make grants, enter into
contracts, or otherwise provide funding for a project--
``(1) to promote energy efficiency to enhance the economic
competitiveness of an area;
``(2) to increase the use of renewable energy technologies,
including solar, wind, or geothermal technologies, to support
sustainable economic development and job growth, with a
priority given to projects that incorporate photovoltaics or
relate to agribusiness, including in both urban and rural
areas;
``(3) to support energy efficiency or alternative energy
development plans, studies, or analysis (including with respect
to job training, attraction, or retention) to enhance a
comprehensive economic development strategy with respect to
which funding has been provided under this Act;
``(4) to support the efforts of a community to have a
technology or manufacturing business located outside the United
States relocate to the United States; and
``(5) to supplement another project funded by a Federal
grant, loan, or loan guarantee provided for a purpose described
in paragraphs (1) through (4).
``(b) Federal Share.--Notwithstanding section 204, the Federal
share of the cost of a project funded under this section--
``(1) if described in paragraph (1), (2), (3), or (4) of
subsection (a), shall not exceed 80 percent; and
``(2) if described in subsection (a)(5), shall not exceed
100 percent.
``(c) Solicitation of Applications.--Not later than 60 days after a
date on which funds are made available to carry out this section, the
Secretary shall solicit applications for assistance under this
section.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by striking the item relating
to section 218 and inserting the following:
``Sec. 218. Sustainable economic development demonstration program.''.
SEC. 208. JOB CREATION GOALS.
(a) In General.--Title II (42 U.S.C. 3141 et seq.), as amended by
this Act, is further amended by adding at the end the following:
``SEC. 219. JOB CREATION GOALS.
``(a) In General.--As a condition of the receipt of a grant under
section 201, 205, or 209 or a loan guarantee under section 208, the
recipient of the grant or loan guarantee shall enter into an agreement
with the Secretary that establishes goals for the number of jobs to be
created as a result of the projects and activities funded by the grant
or loan guarantee.
``(b) Compliance With Goals.--The Secretary may take appropriate
action to penalize a grant recipient who fails to satisfy job creation
goals specified in an agreement under subsection (a).''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 218 the following:
``Sec. 219. Job creation goals.''.
SEC. 209. PROHIBITION WITH RESPECT TO USE OF ASSISTANCE.
(a) In General.--Title II (42 U.S.C. 3141 et seq.), as amended by
this Act, is further amended by adding at the end the following:
``SEC. 220. PROHIBITION WITH RESPECT TO USE OF ASSISTANCE.
``The Secretary shall ensure that a recipient of assistance under
this Act does not utilize the assistance for activities to
intentionally attract, to the location of the recipient, a business or
other source of employment already established elsewhere in the United
States, if the relocation would adversely affect the location where the
business or other source of employment was previously located.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 219 the following:
``Sec. 220. Prohibition with respect to use of assistance.''.
TITLE III--ELIGIBILITY; COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGIES
SEC. 301. ELIGIBILITY OF AREAS.
Section 301 (42 U.S.C. 3161) is amended by adding at the end the
following:
``(e) Special Need.--In determining whether an area has experienced
or is about to experience a special need for purposes of subsection
(a)(3), the Secretary may consider whether the area has been affected
by--
``(1) the loss of a substantial employer;
``(2) substantial outmigration or population loss;
``(3) substantial foreclosure rates;
``(4) substantial underemployment;
``(5) military base or defense installation closure,
realignment, or mission growth;
``(6) a natural or other disaster or emergency;
``(7) substantial natural resource depletion;
``(8) substantial negative effects resulting from changing
trade patterns; or
``(9) other circumstances that the Secretary determines are
indicative of special or extraordinary unemployment or economic
adjustment problems.''.
SEC. 302. COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGIES.
(a) In General.--Section 302(a) (42 U.S.C. 3162(a)) is amended--
(1) in paragraph (1) by inserting after ``problems'' the
following: ``and opportunities'';
(2) in paragraph (2) by inserting after ``private'' the
following: ``(including nonprofit organization)''; and
(3) in paragraph (3)--
(A) in subparagraph (A)--
(i) by striking ``economic problems'' and
inserting ``economic development problems and
opportunities'';
(ii) by inserting after ``strategy,
promotes the'' the following: ``effective'';
and
(iii) by striking ``balances'' and
inserting ``optimizes''; and
(B) in subparagraph (B) by inserting after ``the
problems'' the following: ``and take advantage of the
opportunities''.
(b) Approval of Other Plan.--Section 302(c) (42 U.S.C. 3162(c)) is
amended--
(1) in paragraph (1) by inserting after ``federally
supported program'' the following: ``or under a State,
regionally, or locally supported program''; and
(2) in paragraph (2) by striking ``paragraph'' and
inserting ``subsection''.
(c) Notification of Approval or Disapproval of Comprehensive
Economic Development Strategy or Other Plan.--Section 302 (42 U.S.C.
3162) is amended by adding at the end the following:
``(d) Notification of Approval or Disapproval of Comprehensive
Economic Development Strategy or Other Plan.--
``(1) Deadline.--The Secretary shall notify an eligible
recipient of the approval or disapproval of a comprehensive
economic development strategy or other plan submitted under
this section not later than 60 days after the date of receiving
the strategy or plan.
``(2) Basis for disapproval.--A notification of disapproval
under this subsection shall include a description of the basis
for the disapproval.''.
TITLE IV--ECONOMIC DEVELOPMENT DISTRICTS
SEC. 401. DESIGNATION OF ECONOMIC DEVELOPMENT DISTRICTS.
(a) In General.--Section 401(a) (42 U.S.C. 3171(a)) is amended in
the matter preceding paragraph (1) by striking ``broad geographic'' and
inserting ``national and regional''.
(b) Operations.--Section 401 (42 U.S.C. 3171) is amended by adding
at the end the following:
``(c) Operations.--
``(1) In general.--As a condition of maintaining
designation as an economic development district, each district
shall engage in the full range of economic development
activities in the comprehensive economic development strategy
of the district that has been approved by the Secretary, which
may include--
``(A) coordinating and implementing economic
development activities in the district;
``(B) carrying out economic development research,
planning, implementation, and advisory functions
identified in the comprehensive economic development
strategy; and
``(C) coordinating the development and
implementation of the comprehensive economic
development strategy with Federal, State, local, and
private organizations.
``(2) Contracts.--An economic development district may
enter into contracts for services to carry out the activities
described in paragraph (1).''.
SEC. 402. TERMINATION OR MODIFICATION OF ECONOMIC DEVELOPMENT
DISTRICTS.
Section 402 (42 U.S.C. 3172) is amended by adding at the end the
following: ``The standards shall include authority for the Secretary to
review, at the request of a district, district designations to evaluate
whether the designations meet economic development and labor force
needs and, when warranted, to approve the combination of districts and
adjust applicable assistance levels for the resulting combination.''.
TITLE V--ADMINISTRATION
SEC. 501. CONSULTATION WITH OTHER PERSONS AND AGENCIES.
Section 503(a) (42 U.S.C. 3193(a)) is amended by striking ``or
underemployment'' and inserting ``, underemployment, or outmigration''.
SEC. 502. PERFORMANCE EVALUATIONS OF GRANT RECIPIENTS.
(a) Purpose of Evaluations of University Centers.--Section 506(b)
(42 U.S.C. 3196(b)) is amended by striking ``are worthy of'' and all
that follows through the period at the end and inserting ``maintain the
capacity to implement the priorities of the Secretary.''.
(b) Timing of Evaluations.--Section 506(c) (42 U.S.C. 3196(c)) is
amended to read as follows:
``(c) Timing of Evaluations.--Evaluations under subsection (a)
shall be conducted on a continuing basis so that--
``(1) with respect to economic development districts, each
grantee is evaluated within 3 years after the first award of
assistance to the grantee and at least once every 3 years
thereafter, so long as the grantee receives the assistance; and
``(2) with respect to university centers, each grantee is
evaluated within 5 years after the first award of assistance to
the grantee and at least once every 5 years thereafter, so long
as the grantee receives the assistance.''.
(c) Evaluation Criteria for University Centers.--Section 506(d)(2)
(42 U.S.C. 3196(d)(2)) is amended to read as follows:
``(2) Evaluation criteria for university centers.--The
criteria for evaluation of a university center shall provide,
at a minimum, for an assessment of--
``(A) the center's contribution to providing
technical assistance, conducting applied research, and
disseminating the results of the activities of the
center;
``(B) the center's conformance with the approved
program plan of the center and the goals of the
Secretary; and
``(C) if appropriate, the center's activities to
leverage and maximize the economic development
potential of Federal investments in high-speed rail
projects, including activities--
``(i) to encourage collaboration across
regions; and
``(ii) to evaluate manufacturing and
economic development opportunities relating to
the projects.''.
SEC. 503. ECONOMIC DEVELOPMENT REPRESENTATIVES.
(a) In General.--Title V (42 U.S.C. 3191 et seq.) is amended by
adding at the end the following:
``SEC. 508. ECONOMIC DEVELOPMENT REPRESENTATIVES.
``The Secretary shall ensure that the Economic Development
Administration maintains--
``(1) not less than 35 individuals in the position of
economic development representative during fiscal year 2012;
and
``(2) not less than 40 individuals in the position of
economic development representative during fiscal year 2013 and
each fiscal year thereafter.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 507 the following:
``Sec. 508. Economic development representatives.''.
SEC. 504. LIMITATION ON CERTAIN POSITIONS.
(a) In General.--Title V (42 U.S.C. 3191 et seq.), as amended by
this Act, is further amended by adding at the end the following:
``SEC. 509. LIMITATION ON CERTAIN POSITIONS.
``Beginning in fiscal year 2012, the number of positions in the
Economic Development Administration that, for purposes of title 5,
United States Code, are general positions (as defined by section
3132(a)(9) of such title) which may be filled only by a noncareer
appointee (as defined by section 3132(a)(7) of such title) shall be
limited to 5.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 508 the following:
``Sec. 509. Limitation on certain positions.''.
TITLE VI--MISCELLANEOUS
SEC. 601. ANNUAL REPORT TO CONGRESS.
Section 603(b) (42 U.S.C. 3213(b)) is amended--
(1) in paragraph (2)(B) by striking ``and'' at the end;
(2) in paragraph (3) by striking the period at the end and
inserting a semicolon; and
(3) by adding at the end the following:
``(4) with respect to each university center assisted with
funding under this Act, include--
``(A) a specification of the activities of the
university center;
``(B) a specification of the recipients of
technical assistance from the university center; and
``(C) a specification of the outcomes resulting
from the job creation, research, and technical
assistance activities of the university center; and
``(5) specify the projects, and the funding provided for
the projects, that were funded in conjunction with one or more
of the regional commissions.''.
SEC. 602. MAINTENANCE OF EFFORT.
(a) In General.--Title VI (42 U.S.C. 3211 et seq.) is amended by
adding at the end the following:
``SEC. 613. MAINTENANCE OF EFFORT.
``(a) Expected Period of Best Efforts.--
``(1) Establishment.--To carry out the purposes of this
Act, before providing investment assistance for a construction
project under this Act, the Secretary shall establish the
expected period during which the recipient of the assistance
shall make best efforts to achieve the economic development
objectives of the assistance.
``(2) Treatment of property.--To obtain the best efforts of
a recipient during the period established under paragraph (1),
during that period--
``(A) any property that is acquired or improved, in
whole or in part, using investment assistance under
this Act shall be held in trust by the recipient for
the benefit of the project; and
``(B) the Secretary shall retain an undivided
equitable reversionary interest in the property.
``(3) Termination of federal interest.--
``(A) In general.--Beginning on the date on which
the Secretary determines that a recipient has fulfilled
the obligations of the recipient for the applicable
period under paragraph (1), taking into consideration
the economic conditions existing during that period,
the Secretary may terminate the reversionary interest
of the Secretary in any applicable property under
paragraph (2)(B).
``(B) Alternative method of termination.--
``(i) In general.--On a determination by a
recipient that the economic development needs
of the recipient have changed during the period
beginning on the date on which investment
assistance for a construction project is
provided under this Act and ending on the
expiration of the expected period established
for the project under paragraph (1), the
recipient may submit to the Secretary a request
to terminate the reversionary interest of the
Secretary in property of the project under
paragraph (2)(B) before the date described in
subparagraph (A).
``(ii) Approval.--The Secretary may approve
a request of a recipient under clause (i) if--
``(I) in any case in which the
request is submitted during the 10-year
period beginning on the date on which
assistance is initially provided under
this Act for the applicable project,
the recipient repays to the Secretary
an amount equal to 100 percent of the
fair market value of the pro rata
Federal share of the project; or
``(II) in any case in which the
request is submitted after the
expiration of the 10-year period
described in subclause (I), the
recipient repays to the Secretary an
amount equal to the fair market value
of the pro rata Federal share of the
project as if that value had been
amortized over the period established
under paragraph (1), based on a
straight-line depreciation of the
project throughout the estimated useful
life of the project.
``(b) Terms and Conditions.--
``(1) In general.--The Secretary may establish such terms
and conditions under this section as the Secretary determines
to be appropriate, including by extending the period of a
reversionary interest of the Secretary under subsection
(a)(2)(B) in any case in which the Secretary determines that
the performance of a recipient is unsatisfactory.
``(2) Maintenance of standards.--The Secretary may not
terminate a reversionary interest of the Secretary under
subsection (a)(2)(B) if the Secretary has not received adequate
assurances that the applicable recipient will continue to
satisfy the requirements of section 602 after the termination.
``(c) Previously Extended Assistance.--With respect to any
recipient to which the term of provision of assistance was extended
under this Act before the date of enactment of this section, the
Secretary may approve a request of the recipient under subsection (a)
in accordance with the requirements of this section to ensure uniform
administration of this Act, notwithstanding any estimated useful life
period that otherwise relates to the assistance.
``(d) Conversion of Use.--If a recipient of assistance under this
Act demonstrates to the Secretary that the intended use of the project
for which assistance was provided under this Act no longer represents
the best use of the property used for the project, the Secretary may
approve a request by the recipient to convert the property to a
different use for the remainder of the term of the Federal interest in
the property, subject to the condition that the new use shall be
consistent with the purposes of this Act.
``(e) Status of Authority.--The authority of the Secretary under
this section is in addition to any authority of the Secretary pursuant
to any law or grant agreement in effect on the date of enactment of
this section.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 612 the following:
``Sec. 613. Maintenance of effort.''.
TITLE VII--FUNDING
SEC. 701. GENERAL AUTHORIZATION OF APPROPRIATIONS.
(a) Economic Development Assistance Programs.--Section 701(a) (42
U.S.C. 3231(a)) is amended by striking ``until expended'' and all that
follows through the period at the end and inserting the following:
``until expended, $500,000,000 for each of fiscal years 2011 through
2015.''.
(b) Salaries and Expenses.--Section 701(b) (42 U.S.C. 3231(b)) is
amended by striking paragraphs (1) and (2) and inserting the following:
``(1) $42,000,000 for fiscal year 2011; and
``(2) such sums as are necessary for each fiscal year
thereafter.''.
SEC. 702. FUNDING FOR GRANTS FOR PLANNING AND GRANTS FOR ADMINISTRATIVE
EXPENSES.
Section 704 (42 U.S.C. 3234) is amended--
(1) by striking ``$27,000,000'' and inserting
``$36,000,000''; and
(2) by inserting after ``under section 203'' the following:
``and, of that amount, not less than $500,000 shall be made
available for grants under section 203 for planning relating to
high-speed rail''.
SEC. 703. FUNDING FOR FINANCIAL ASSISTANCE FOR BUSINESS INCUBATORS AND
SCIENCE AND RESEARCH PARKS.
(a) In General.--Title VII (42 U.S.C. 3231 et seq.) is amended by
adding at the end the following:
``SEC. 705. FUNDING FOR FINANCIAL ASSISTANCE FOR BUSINESS INCUBATORS
AND SCIENCE AND RESEARCH PARKS.
``(a) Grants.--In addition to amounts made available under section
701, there is authorized to be appropriated $7,500,000 to carry out
section 208(c).
``(b) Loan Guarantees.--In addition to amounts made available under
section 701, there are authorized to be appropriated such sums as may
be necessary to carry out section 208(d), including the cost (as
defined in section 502 of the Federal Credit Reform Act of 1990 (2
U.S.C. 661a)) of guaranteeing loans under that section.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 704 the following:
``Sec. 705. Funding for financial assistance for business incubators
and science and research parks.''.
SEC. 704. FUNDING FOR SUSTAINABLE ECONOMIC DEVELOPMENT DEMONSTRATION
PROGRAM.
(a) In General.--Title VII (42 U.S.C. 3231 et seq.), as amended by
this Act, is further amended by adding at the end the following:
``SEC. 706. FUNDING FOR SUSTAINABLE ECONOMIC DEVELOPMENT DEMONSTRATION
PROGRAM.
``Of the amounts made available under section 701 for each fiscal
year, not less than $25,000,000 shall be made available to carry out
section 218.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 705 the following:
``Sec. 706. Funding for sustainable economic development demonstration
program.''.
SEC. 705. FUNDING FOR GRANTS FOR TRAINING, RESEARCH, AND TECHNICAL
ASSISTANCE.
(a) In General.--Title VII (42 U.S.C. 3231 et seq.), as amended by
this Act, is further amended by adding at the end the following:
``SEC. 707. FUNDING FOR GRANTS FOR TRAINING, RESEARCH, AND TECHNICAL
ASSISTANCE.
``Of the amounts made available under section 701 for each fiscal
year, not less than $10,000,000 shall be made available for grants
provided under section 207 and, of that amount, not less than
$1,125,000 shall be made available for grants under section 207 to
establish university centers in States that do not have a university
center.''.
(b) Clerical Amendment.--The table of contents in section 1(b), as
amended by this Act, is further amended by inserting after the item
relating to section 706 the following:
``Sec. 707. Funding for grants for training, research, and technical
assistance.''.
<all>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1450-1452)
Referred to House Transportation and Infrastructure
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on 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.
Referred to House Financial Services
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Subcommittee on Economic Development, Public Buildings and Emergency Management Discharged.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
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Reported (Amended) by the Committee on Transportation. H. Rept. 111-652, Part I.
Reported (Amended) by the Committee on Transportation. H. Rept. 111-652, Part I.
Committee on Financial Services discharged.
Committee on Financial Services discharged.
Placed on the Union Calendar, Calendar No. 390.