A bill to establish a pilot program to accelerate entrepreneurship and innovation by partnering world-class entrepreneurs with Federal agencies.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Entrepreneur-in-Residence 
Act of 2012''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the term ``Administrator'' means the Administrator of 
        the Small Business Administration;
            (2) the term ``agency'' means an Executive agency, as 
        defined in section 105 of title 5, United States Code;
            (3) the term ``Director'' means the Director of the Office 
        of Personnel Management;
            (4) the term ``entrepreneur-in-residence'' means an 
        individual appointed to a position under the program;
            (5) the term ``program'' means the Federal entrepreneur-in-
        residence program established under section 3(a); and
            (6) the term ``small business concern'' has the meaning 
        given that term under section 3 of the Small Business Act (15 
        U.S.C. 632).

SEC. 3. FEDERAL ENTREPRENEUR-IN-RESIDENCE PROGRAM.

    (a) Program Established.--The Director, in consultation with the 
Administrator, shall establish a Federal entrepreneur-in-residence 
program under which the Director, with the concurrence of the head of 
an agency, may appoint an entrepreneur-in-residence to a position in 
the excepted service in the agency to carry out the duties described in 
subsection (d).
    (b) Mission of Program.--The mission of the program shall be to--
            (1) provide for better outreach by the Federal Government 
        to the private sector;
            (2) strengthen coordination and interaction between the 
        Federal Government and the private sector on issues relevant to 
        entrepreneurs and small business concerns; and
            (3) make Federal programs simpler, quicker, more efficient, 
        and more responsive to the needs of small business concerns and 
        entrepreneurs.
    (c) Appointments.--
            (1) In general.--The Director--
                    (A) shall appoint entrepreneurs-in-residence under 
                the program during each year; and
                    (B) may not appoint more than 10 entrepreneurs-in-
                residence during any year.
            (2) Selection.--The Director shall select entrepreneurs-in-
        residence from among individuals who--
                    (A) are successful in their field;
                    (B) have demonstrated success in working with small 
                business concerns and entrepreneurs; or
                    (C) have successfully developed, invented, or 
                created a product and brought the product to the 
                marketplace.
            (3) Placement.--In appointing entrepreneurs-in-residence, 
        the Director shall--
                    (A) give priority to placing entrepreneurs-in-
                residence across the Federal Government at separate 
                agencies; and
                    (B) to the extent practicable, not appoint more 
                than 2 entrepreneurs-in-residence to positions in the 
                same agency during the same year.
            (4) Terms of appointment.--An entrepreneur-in-residence--
                    (A) shall be a full-time employee of the agency to 
                which the entrepreneur-in-residence is appointed; and
                    (B) may not serve as an entrepreneur-in-residence 
                for more than a period of 2 years.
    (d) Duties.--An entrepreneur-in-residence shall--
            (1) assist Federal agencies in improving outreach to small 
        business concerns and entrepreneurs;
            (2) provide recommendations to the head of the agency 
        employing the entrepreneur-in-residence on inefficient or 
        duplicative programs, if any, at the agency;
            (3) provide recommendations to the head of the agency 
        employing the entrepreneur-in-residence on methods to improve 
        program efficiency at the agency or new initiatives, if any, 
        that may be instituted at the agency;
            (4) facilitate meetings and forums to educate small 
        business concerns and entrepreneurs on programs or initiatives 
        of the agency employing the entrepreneur-in-residence;
            (5) facilitate in-service sessions with employees of the 
        agency employing the entrepreneur-in-residence on issues of 
        concern to entrepreneurs and small business concerns; and
            (6) provide technical assistance or mentorship to small 
        business concerns and entrepreneurs in accessing programs at 
        the agency employing the entrepreneur-in-residence.
    (e) Compensation.--
            (1) In general.--The rate of basic pay for an entrepreneur-
        in-residence shall be equivalent to the rate of basic pay for a 
        position at GS-13, GS-14, or GS-15 of the General Schedule, 
        which shall be determined in accordance with regulations 
        promulgated by the Director.
            (2) Promotion.--If an entrepreneur-in-residence with a rate 
        of pay equivalent to the rate of basic pay for a position at 
        GS-13 or GS-14 satisfactorily completes 1 year of service in 
        position under this section, the entrepreneur-in-residence may 
        receive an increase in the rate of basic pay to be equal to the 
        rate of basic pay for a position 1 grade higher on the General 
        Schedule than the initial rate of basic pay of the 
        entrepreneur-in-residence.
    (f) Reporting.--An entrepreneur-in-residence shall report directly 
to the head of the agency employing the entrepreneur-in-residence.
    (g) Termination.--The Director may not appoint an entrepreneur-in-
residence under this section after September 30, 2016.

Summary: Federal Entrepreneur-in-Residence Act of 2012 - Directs the Director of the Office of Personnel Management (OPM) to establish an entrepreneur-in-residence program to appoint in-house entrepreneurs who have demonstrated success in working with small business concerns and entrepreneurs to: (1) assist federal agencies in improving outreach to small business concerns and entrepreneurs, (2) provide recommendations on inefficient or duplicative agency programs and on methods to improve agency efficiency, (3) facilitate meetings and forums to educate small business concerns and entrepreneurs on agency programs and initiatives, and (4) provide technical assistance or mentorship. Limits to 10 the number of entrepreneurs-in-residence that the Director may appoint in any year. Terminates such program after FY2016.