A bill entitled the "Science and Technology Research and Development Utilization Policy Act".

Title I: Policy - Declares the purpose of this Act to be: (1) to establish and maintain a Federal policy for the use and management of the results of federally-sponsored science and technology research and development programs; and (2) to monitor the impact of such programs on innovation and technology development.

Title II: Implementation - Directs the Secretary of Commerce to coordinate, direct, and review the utilization and protection of rights in Government-owned inventions. Directs each Federal agency to develop and implement programs for the transfer of Government-owned innovative technology for application and use in industry, agriculture, medicine, transportation, and other critical sectors of the economy.

Title III: Allocation of Rights - Government Contractors - Requires each Federal agency to acquire, on behalf of the United States, title to any invention made under Federal contract if the agency determines: (1) the contractor's services are for the operation of a Government-owned research or production facility; (2) the work performed is of a classified nature; (3) Government retention of title is necessary for protection of the public health, safety, or welfare; (4) a nonprofit organization under contract does not have a qualified technology transfer program; and (5) the contract's principal purpose is to develop products, processes, or methods for general public use.

Authorizes an agency to waive all or any part of the right of the United States to an invention if it is in the interest of the Government and the general public. Reserves to the contractor the option of acquiring title to any invention in all other situations.

Provides that if a contractor has acquired title to an invention the Federal agency may, in the interest of public safety or specified economic needs, require the contractor to grant a nonexclusive, partially exclusive, or exclusive license to a responsible applicant.

Title IV: Allocation of Rights-Federal Employees - Directs the Government to obtain the entire right, title, and interest in and to any invention made by a Federal employee if the agency determines that the invention was conceived in the normal course of employment duties, unless the Government's interest in such invention is negligible. Provides for a review by the Secretary, if requested, for determination as to the right of title. Authorizes incentive awards to Federal employee-inventors for any inventions of significant value.

Title V: Miscellaneous - Repeals certain existing statutory authorizations.

Amends the National Aeronautics and Space Act of 1958 to direct the Administrator of the National Aeronautics and Space Administration to establish an Inventions and Contributions Board to hear, and make findings and recommendations with respect to, every proposal for any waiver of patent rights held by the Administrator.

Authorizes appropriations necessary to carry out the provisions of this Act.