I 
112TH CONGRESS 
2D SESSION 
H. R. 4720 
To establish the American Innovation Bank, to improve science and tech-
nology job training, to authorize grants for curriculum development, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 25, 2012 
Mr. HOLT introduced the following bill; which was referred to the Committee 
on Science, Space, and Technology 
A BILL 
To establish the American Innovation Bank, to improve 
science and technology job training, to authorize grants 
for curriculum development, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘America Innovates Act 
of 2012’’. 
VerDate Mar 15 2010 
00:49 Apr 27, 2012
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4720.IH
H4720
jbell on DSK7SPTVN1PROD with BILLS
TITLE I—AMERICAN 
INNOVATION BANK 
SEC. 101. ESTABLISHMENT OF THE AMERICAN INNOVATION 
BANK. 
(a) ESTABLISHMENT.—There is established in the 
Executive Branch of the Government an independent 
agency to be known as the American Innovation Bank (re-
ferred to in this title as the ‘‘Bank’’). 
(b) BOARD AND DIRECTOR.— 
(1) IN GENERAL.—The Bank shall consist of an 
American Innovation Board (referred to in this title 
as the ‘‘Board’’) and a Director of the American In-
novation Bank (referred to in this title as the ‘‘Di-
rector’’). 
(2) APPOINTMENT.—The Director and mem-
bers of the Board shall be appointed by the Presi-
dent, by and with the advice and consent of the Sen-
ate. 
(3) DUTIES
OF
THE
BOARD.—The Board 
shall— 
(A) advise the Director on new and emerg-
ing areas of research and industry that would 
benefit from investment from the Bank; and 
(B) critically evaluate the success of the 
Bank’s investments in helping to commercialize 
VerDate Mar 15 2010 
00:49 Apr 27, 2012
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H4720.IH
H4720
jbell on DSK7SPTVN1PROD with BILLS
scientific discoveries and create new companies 
and jobs. 
SEC. 102. FUNCTIONS OF THE BANK. 
(a) IN GENERAL.—The Bank is authorized and di-
rected to promote the commercialization of science and en-
gineering discoveries. 
(b) PROVISION OF GRANTS, LOANS, AND OTHER AS-
SISTANCE.—The Bank shall provide grants, loans, and 
other assistance to eligible entities and individuals to en-
able the entities and individuals to perform the necessary 
research and development to make research discoveries at-
tractive for private investment that will lead to the devel-
opment of new companies, products, and jobs. 
SEC. 103. ANNUAL REPORTS. 
(a) IN GENERAL.—The Board, in consultation with 
the Director, shall submit an annual report to Congress 
on or before the 15th day of April of each year summa-
rizing the activities of the Bank and making such rec-
ommendations as the Board, in consultation with the Di-
rector, determines appropriate. 
(b) SPECIFIC METRICS.—Each annual report sub-
mitted under subsection (a) shall include specific metrics 
that quantify the success of the Bank’s investments, in-
cluding information about— 
VerDate Mar 15 2010 
00:49 Apr 27, 2012
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H4720.IH
H4720
jbell on DSK7SPTVN1PROD with BILLS
(1) patents for discoveries and products sup-
ported by the Bank; 
(2) products commercialized with the help of 
Bank investments; 
(3) new companies started because of Bank in-
vestments; and 
(4) jobs that have resulted because of Bank in-
vestments. 
SEC. 104. GRANTS TO INSTITUTIONS OF HIGHER EDU-
CATION AND RESEARCH INSTITUTES. 
(a) IN GENERAL.—The Bank, acting through the Di-
rector, shall award grants to eligible entities to carry out 
activities described in this section. 
(b) ELIGIBLE ENTITIES.—In this title, the term ‘‘eli-
gible entity’’ means— 
(1) an institution of higher education (as de-
fined in section 101 of the Higher Education Act of 
1965 (20 U.S.C. 1001)); or 
(2) a nonprofit research institution that focuses 
on science research. 
(c) ADVISORY
PANEL.—Before awarding grants 
under this section, the Director shall convene an advisory 
panel of experts on technology transfer, including business 
leaders and scientific researchers, who shall make rec-
ommendations to the Director about those eligible entities, 
VerDate Mar 15 2010 
00:49 Apr 27, 2012
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H4720.IH
H4720
jbell on DSK7SPTVN1PROD with BILLS
that apply for funding under this section, most likely to 
be able to use grant funds awarded under this title to fos-
ter the development of new companies, products, and jobs. 
(d) AWARDING
OF GRANTS.—The Director shall 
award grants, on a competitive basis, to eligible entities 
to enable the eligible entities to develop new companies, 
products, or jobs and technologies in a specific research 
area, including the following: 
(1) Life sciences and medicine. 
(2) Computer sciences, communications, and 
technology. 
(3) Physical sciences and engineering. 
(4) Other research areas determined important 
for economic development by the Director. 
(e) PRIORITY.—In awarding grants under this sec-
tion, the Director shall give priority to entities that— 
(1) receive a significant amount of Federal 
funding to conduct science research from the Na-
tional Science Foundation, the Department of En-
ergy, the National Institutes of Health, or other 
agencies that the Director determines appropriate; 
(2) do not have a significant proof of concept 
fund already established at the entity; 
(3) have established relationships with business 
and industry that are likely to be able to use and 
VerDate Mar 15 2010 
00:49 Apr 27, 2012
Jkt 019200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H4720.IH
H4720
jbell on DSK7SPTVN1PROD with BILLS
commercialize science and engineering discoveries 
and may be in close proximity to such industry and 
businesses; 
(4) demonstrate an institutional environment 
that is supportive of business development, includ-
ing— 
(A) an institutional strategic plan for busi-
ness development; and 
(B) a plan to leverage Federal investments 
with State, local, private, or other investments; 
and 
(5) demonstrate the appropriate administrative 
capacity to encourage the disclosure, patenting, and 
development of new companies, products, or jobs. 
(f) USE OF FUNDS.— 
(1) IN GENERAL.—An eligible entity that re-
ceives a grant under this section may use the grant 
funds for the following: 
(A) Supporting researchers that seek to 
develop science and engineering discoveries into 
new companies, products, or jobs, including ad-
ditional research or data collection with the goal 
of making a particular discovery attractive to 
investment from private entities such as cor-
porations and venture capital firms. 
VerDate Mar 15 2010 
00:49 Apr 27, 2012
Jkt 019200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H4720.IH
H4720
jbell on DSK7SPTVN1PROD with BILLS