Innovation Centers Acceleration Act

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 September 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 September 2020

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 September 2020

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.