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in this section and information on methods to comply with
such requirements.
TITLE III—BUSINESS
DEVELOPMENT ASSISTANCE
SEC. 301. SHORT TITLE.
This title may be cited as the ‘‘Economic Growth and
Technology Commercialization Act of 1994’’.
SEC. 302. FINDINGS, PURPOSES, AND DEFINITIONS.
(a) FINDINGS.—The Congress hereby finds the fol-
lowing:
(1) Through its support and funding of re-
search and development in this Nation’s Federal
agencies, laboratories, and educational institutions,
the Federal Government has fostered the creation of
thousands of technologies, processes, and other pro-
prietary rights owned, or held in whole or part, by
the Federal Government.
(2) If commercialized, these technologies, proc-
esses, and other proprietary rights owned, or held in
whole or part, by the Federal Government hold the
potential to be a significant tool to foster economic
growth and to create significant numbers of new
jobs at good wages for American workers.
(3) Throughout the Federal Government, there
is no single inventory or source of information on
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technologies, processes, and other proprietary rights
owned, or held in whole or part, by the Federal Gov-
ernment.
(4) Information on technologies, processes, and
other proprietary rights owned, or held in whole or
part, by the Federal Government is not standardized
in form or content, is separately maintained by nu-
merous Federal agencies and departments, and is
not easily accessible by the public.
(5) Businesses and entrepreneurs in areas in
need of economic growth and revitalization are large-
ly unaware of the existence of these technologies,
processes, and other proprietary rights and largely
unaware of the possibilities for obtaining the rights
to these technologies, processes, and other propri-
etary rights for the purpose of commercialization.
(6) It is in the economic interest of the United
States to facilitate the private sector commercializa-
tion of technologies, processes, and other proprietary
rights by United States businesses located in areas
in need of economic growth and revitalization.
(7) Greater effectiveness may be achieved
through the utilization of the private sector cor-
porate structure and profit incentives in facilitating
the commercialization of technologies, processes, and
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other proprietary rights than can reasonably be ex-
pected by the Federal Government performing this
function.
(b) PURPOSES.—The purposes of this title are as
follows:
(1) To provide assistance to private-sector
United States businesses, located in areas in need of
economic stabilization and revitalization, to commer-
cialize technologies, processes, and other proprietary
rights owned, or held in whole or part, by the Fed-
eral Government.
(2) To create new employment opportunities by
facilitating the commercialization of technologies,
processes, and other proprietary rights by United
States businesses and entrepreneurs in areas in need
of economic growth and revitalization.
(3) To develop a single, comprehensive data
base of information on technologies, processes, and
other proprietary rights owned, or held in whole or
part, by the Federal Government, which is standard-
ized and easily accessible.
(4) To heighten the awareness of United States
businesses and entrepreneurs of the availability for
commercialization of technologies, processes, and
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other proprietary rights owned, or held in whole or
part, by the Federal Government.
(c) DEFINITIONS.—For purposes of this title, the fol-
lowing definitions shall apply:
(1) SECRETARY.—The term ‘‘Secretary’’ means
the Secretary of Commerce.
(2) CORPORATION.—The term ‘‘Corporation’’
means the Business Development and Technology
Commercialization Corporation established under
this title.
(3) BOARD.—The term ‘‘Board’’ means the
Board of Directors of the Business Development and
Technology Commercialization Corporation.
(4) QUALIFIED CONCERN.—The term ‘‘qualified
concern’’ means a United States-based consortium, a
private United States business, or an educational in-
stitution participating in a joint project with 1 or
more private United States businesses, for the devel-
opment and commercialization of technologies, proc-
esses, and other proprietary rights—
(A) owned or held in whole or part by Fed-
eral departments, agencies, or government-con-
trolled corporations;
(B) developed in Federal laboratories;
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(C) arising in the course of federally fund-
ed research at educational institutions, other
units of government, or with private concerns;
or
(D) which are made available to the Fed-
eral Government by private concerns.
SEC. 303. CONSOLIDATION OF INFORMATION ON TECH-
NOLOGIES.
(a) ESTABLISHMENT OF DATA.—The Secretary shall
establish and maintain an integrated, comprehensive data
base describing all technologies, processes, and other pro-
prietary rights owned, or held in whole or part, by the
Federal Government, or which originated in the course of
federally funded research in which the Federal Govern-
ment has an interest.
(b) STANDARDIZATION AND ACCESSIBILITY OF IN-
FORMATION.—The Secretary shall take such steps as are
necessary to ensure that the information contained in the
data base established under subsection (a) is in a stand-
ardized form, is accessible and usable in a manner as sim-
ple and easy to use as possible, recognizing the needs of
small- and medium-sized businesses.
(c) RESPONSIBILITIES.—In carrying out this section,
the Secretary shall—
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(1) consult with and, to the extent practicable,
utilize the capabilities of other executive agencies, as
appropriate, to ensure the efficient and effective im-
plementation of this section; and
(2) explore, with other executive agencies, ways
to avoid duplication of effort by consolidating the
administration of the program established by this
section with any other similar Federal program, and
as part of such consolidation may delegate adminis-
trative functions, as necessary and appropriate, to
another executive agency.
(d) OTHER FEDERAL AGENCIES.—Other executive
agencies shall provide such information, and in such form,
as determined by the Secretary and shall cooperate with
the Secretary in carrying out this section.
(e) ACCESS TO THE DATA BASE.—
(1) ACCESS TO THE DATA BASE BY THE COR-
PORATION.—Except as provided in paragraph (3),
the Secretary shall provide unlimited access to the
data base established under this section to the Busi-
ness Development and Technology Commercializa-
tion Corporation established under this part, without
fee, to assist the Corporation in meeting its respon-
sibilities under this part.
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(2) ACCESS TO THE DATA BASE BY THE PUB-
LIC.—Except as provided in paragraph (3), the Sec-
retary shall, by regulation, develop and implement
procedures providing for access to the data base es-
tablished under this section to members of the gen-
eral public.
(3) RESTRICTIONS.—If, in consultation with the
heads of other executive agencies, the Secretary de-
termines that access by the Corporation or any other
person to information contained in the data base es-
tablished under this section would—
(A) threaten national security;
(B) violate the proprietary rights of any
private interest; or
(C) be otherwise inappropriate,
the Secretary shall take such steps as the Secretary
may determine to be appropriate to limit access to
the information in the data base described in sub-
paragraph (A), (B), or (C) to the Corporation or
any other person.
(f) GAO REVIEW
OF CURRENT FEDERAL TECH-
NOLOGY UTILIZATION
AND COMMERCIALIZATION EF-
FORTS.—
(1) IN GENERAL.—The Comptroller General of
the United States shall conduct a review of all tech-
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nology utilization and commercialization activities
within all Federal departments, agencies, and lab-
oratories, or which are otherwise supported by Fed-
eral funds. This review shall identify those activities
which may overlap or duplicate the technology utili-
zation and commercialization activities provided for
under this title.
(2) REPORTS.—Before the end of the 1-year pe-
riod beginning on the date of the enactment of this
Act, the Comptroller General shall issue a report to
the Congress describing in detail—
(A) the findings of the review directed
under paragraph (1),
(B) the funding levels of each existing
Federal technology utilization and commer-
cialization activities, and
(C) recommendations for the modification
or elimination of any existing Federal tech-
nology utilization and commercialization activi-
ties which the Comptroller General finds to be
duplicative of the activities provided for under
this title.
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SEC. 304. BUSINESS 
DEVELOPMENT 
AND 
TECHNOLOGY
COMMERCIALIZATION CORPORATION.
(a) ASSESSMENT OF TECHNOLOGY UTILIZATION AND
COMMERCIALIZATION PROGRAMS OF THE FEDERAL GOV-
ERNMENT.—
(1) IN GENERAL.—The Director of the Office of
Science and Technology Policy in the Executive Of-
fice of the President shall—
(A) assess the performance of technology
utilization and commercialization programs of
the Federal Government as of the date of the
enactment of this Act;
(B) evaluate the advantages and disadvan-
tages of a centralized as opposed to a decentral-
ized approach to technology utilization and
commercialization; and
(C) develop recommendations on ways to
improve the technology utilization and commer-
cialization efforts of the Federal Government.
(2) REPORT.—The Director of the Office of
Science and Technology Policy shall submit a report
containing the findings, conclusions, and rec-
ommendations of the Director pursuant to para-
graph (1) to the President, the Committee on Bank-
ing, Finance and Urban Affairs and the Committee
on Science, Space, and Technology of the House of
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Representatives, and the Committee on Commerce,
Science, and Transportation of the Senate.
(3) CONSULTATION.—In carrying out the duties
of the Director under paragraph (1), the Director
shall consult with interested agencies and depart-
ment of the Federal Government.
(b) IMPROVED INTEGRATION OF TECHNOLOGY COM-
MERCIALIZATION PROGRAMS AND FEDERAL PROGRAMS
TO ASSIST ECONOMICALLY DISTRESSED COMMUNITIES.—
(1) IN GENERAL.—The Secretary shall identify
ways to promote more effective integration of Fed-
eral policies and programs relating to technology uti-
lization and commercialization with Federal policies
and programs for assisting economically distressed
communities establish stable and diversified local
economies.
(2) REPORT.—The Secretary shall submit a re-
port containing any findings, conclusions, and rec-
ommendations of the Secretary pursuant to para-
graph (1) to the President, the Committee on Bank-
ing, Finance and Urban Affairs and the Committee
on Science, Space, and Technology of the House of
Representatives, and the Committee on Commerce,
Science, and Transportation of the Senate.
(c) ESTABLISHMENT OF CORPORATION.—
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(1) IN GENERAL.—Not later than the earlier
of—
(A) the end of the 12-month period begin-
ning on the date of the enactment of this Act;
or
(B) the end of the 30-day period beginning
on the date the report of the Director of the Of-
fice of Science and Technology Policy is submit-
ted to the President pursuant to subsection
(a)(2),
the President shall provide for the establishment of
a corporation to be known as the ‘‘Business Devel-
opment and Technology Commercialization Corpora-
tion’’ (hereafter in this title referred to as the ‘‘Cor-
poration’’), unless the President, after consideration
of such report, makes a finding that the establish-
ment of the Corporation would impair the operation
of the Federal policies and programs relating to
technology utilization and commercialization.
(2) REPORT TO CONGRESS.—If the President
makes a finding described in paragraph (1) with re-
spect to the establishment of the Corporation, the
President shall transmit a report describing the
basis for the finding to the Committee on Banking,
Finance and Urban Affairs and the Committee on
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Science, Space, and Technology of the House of
Representatives, and the Committee on Commerce,
Science, and Transportation of the Senate.
(3) PURPOSE.—The Corporation shall be oper-
ated for the purpose of fostering economic growth,
assisting in the creation of new employment oppor-
tunities, and strengthening the industrial base of the
United States by facilitating the utilization and com-
mercialization of technologies, processes, and other
proprietary rights—
(A) owned or held in whole or part by Fed-
eral departments, agencies, or government-con-
trolled corporations;
(B) developed in Federal laboratories;
(C) arising in the course of federally fund-
ed research at educational institutions, other
units of government, or with private concerns;
and
(D) which are made available by private
concerns.
(4) CORPORATION NOT AN ESTABLISHMENT OF
THE UNITED STATES.—The Corporation shall not be
an agency or establishment of the United States.
(d) PROCESS OF ORGANIZATION.—
(1) INCORPORATION.—
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(A) IN GENERAL.—The Secretary, the Sec-
retary of Labor, and the Administrator of the
Small Business Administration shall—
(i) provide for the establishment of
the Corporation under the business cor-
poration laws of such State as the Presi-
dent determines to be appropriate; and
(ii) serve as the incorporators of the
Corporation and as the initial members of
the board of directors of the Corporation
until their successors are elected and quali-
fied.
(B) NECESSARY
ACTION
AUTHORIZED.—
The incorporators referred to in subparagraph
(A) shall take such other actions as may be nec-
essary to establish the Corporation.
(C) REVIEW OF PROPOSED ORGANIZATION
OF CORPORATION.—The President shall request
the National Academy of Public Administration
to—
(i) review the proposed organization of
the Corporation to ensure that the organi-
zation plan conforms with sound principles
of administration; and
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(ii) submit a report to the President
in a timely manner with the Academy’s
such 
findings, 
conclusions, 
and 
rec-
ommendations the Academy may determine
to be appropriate.
(2) PRIVATIZATION OF THE CORPORATION.—
(A) IN GENERAL.—Following the establish-
ment of the Corporation, the Corporation shall
be converted to private ownership and manage-
ment in such form and manner as the President
determines to be appropriate, after consulting
with the Committee on Banking, Finance and
Urban Affairs and the Committee on Science,
Space, and Technology of the House of Rep-
resentatives, and the Committee on Commerce,
Science, and Transportation of the Senate.
(B) SOLICITATION
OF
PROPOSALS
FOR
CONVERSION.—The President shall solicit pro-
posals for the conversion of the Corporation to
private ownership and management.
(3) SELECTION CRITERIA AND PROCEDURES.—
(A) IN GENERAL.—The President, in con-
sultation with the Secretary, shall make the
final selection of a proposal for the conversion
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of the Corporation to private ownership and
management.
(B) CRITERIA
FOR
SELECTING
A
PRO-
POSAL TO RECOMMEND TO THE PRESIDENT.—
In selecting a proposal to recommend to the
President for the conversion of the Corporation,
as described in subparagraph (A), the Secretary
shall take into consideration the following fac-
tors—
(i) the quality of the operational plan;
(ii) the soundness of the financing of
the organization and of the operational
plan;
(iii) the qualifications of, and the di-
versity of talents and skills represented by,
the submitters of the proposal, including
the extent to which a combination of orga-
nizations is submitting a joint proposal;
(iv) whether a State government, or
unit of a State government, is participat-
ing financially with the organization sub-
mitting a proposal;
(v) the intentions of the submitters of
the proposal to locate the headquarters of
the Corporation in an area which is not lo-
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cated in the 50 largest Metropolitan Sta-
tistical Areas, based on the 1990 Census;
and
(vi) 
such 
other 
factors 
as 
the
incorporators determine to be appropriate
in meeting the purposes of this title.
(C) PROCEDURES FOR SELECTING A PRO-
POSAL TO RECOMMEND TO THE PRESIDENT.—
In selecting a proposal to recommend to the
President for the conversion of the Corporation,
as described in subparagraph (A), the Secretary
shall ensure that in the selection process—
(i) not less than 3 proposals are iden-
tified as proposals to receive further con-
sideration, as provided in clauses (ii) and
(iii), except that, if fewer than 3 proposals
are received, each of them shall receive fur-
ther consideration;
(ii) a review procedure is implemented
under which the sponsors of the proposals
identified in clause (i) are provided an op-
portunity to make personal presentations
of their proposals to the Secretary or the
Secretary’s designee; and
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(iii) individual negotiations for the re-
vision of proposals identified in clause (i)
may be entered into.
(4) 
WARRANTS
FOR
PARTICIPATION
IN
GAINS.—The President may, in connection with any
contract or agreement for converting the Corpora-
tion to private ownership and contingent on the fi-
nancial success of the Corporation, retain the right
to participate in the financial gains of the Corpora-
tion in such amounts as the President may deter-
mine to be appropriate, after consulting with the
Committee on Banking, Finance and Urban Affairs
and the Committee on Science, Space, and Tech-
nology of the House of Representatives, and the
Committee on Commerce, Science, and Transpor-
tation of the Senate.
(e) PROHIBITION ON CONFLICTS OF INTEREST.—
(1) IN GENERAL.—An officer or employee of
the Corporation may not participate in a matter re-
garding an application, claim, or other matter pend-
ing before the Corporation if, to such person’s
knowledge, the person, the person’s spouse, minor
child, parent, sibling, or partner, or an organization,
other than the Corporation, in which the person is
serving as an officer, director, trustee, partner, or
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employee, or any person with whom the person is ne-
gotiating or has any arrangement concerning per-
spective employment, has a financial interest in the
matter.
(2) CONSEQUENCE OF VIOLATION.—An officer
or employee who violates this subsection shall be
subject to termination, but such a violation shall not
impair, nullify, or otherwise affect the validity of any
otherwise lawful action by the Corporation in which
such officer or employee participated.
(f) GENERAL POWERS.—In addition to the usual
powers conferred upon a corporation under the business
corporation laws of the State in which the Corporation is
incorporated, the Corporation shall have such other inci-
dental powers not inconsistent with this section that are
necessary or appropriate to carry out the purposes and
functions of the Corporation.
(g) PROMOTION OF TECHNOLOGIES.—
(1) MARKETING OF TECHNOLOGIES.—The Cor-
poration shall undertake an aggressive, multifaceted
outreach program to increase awareness of the avail-
ability of technologies, processes, and other propri-
etary rights to qualified concerns under this title.
This program shall emphasize the use of new infor-
mation technologies, including the utilization of
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cable television and the modern electronic media,
and the data base established under this title.
(2) UTILIZATION OF CABLE TELEVISION.—
(A) IN
GENERAL.—In implementing the
outreach program provided under paragraph
(1), the Corporation shall enter into negotia-
tions for the utilization of cable television for
marketing efforts for the commercialization of
technologies, processes, and other proprietary
rights—
(i) owned or held in whole or part by
Federal departments, agencies, or govern-
ment controlled corporations;
(ii) develop in Federal laboratories;
(iii) arising in the course of federally
funded research at educational institutions,
other units of government or with private
concerns; and
(iv) which are otherwise made avail-
able to the government by private con-
cerns.
(B) PROMOTIONAL
FEES.—Under terms
negotiated between the Secretary and the Cor-
poration, the Secretary is authorized to make
payments to the Corporation for promotional