Title: IMPACT for Energy Act
Policy area: Energy

Summary:
Increasing and Mobilizing Partnerships to Achieve Commercialization of Technologies for Energy Act or the IMPACT for Energy Act
This bill requires the Department of Energy to establish a nonprofit corporation named the IMPACT for Energy Foundation that provides a mechanism to channel private sector investment into commercial innovative technologies in energy.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 2257 Introduced in Senate (IS)]

<DOC>






115th CONGRESS
  1st Session
                                S. 2257

             To establish the IMPACT for Energy Foundation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 20, 2017

 Mr. Coons (for himself and Mr. Graham) introduced the following bill; 
   which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
             To establish the IMPACT for Energy Foundation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Increasing and Mobilizing 
Partnerships to Achieve Commercialization of Technologies for Energy 
Act'' or the ``IMPACT for Energy Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Board.--The term ``Board'' means the Board of Directors 
        for the Foundation described in section 3(c).
            (2) Chair.--The term ``Chair'' means the Chair of the Board 
        described in section 3(c)(2).
            (3) Executive director.--The term ``Executive Director'' 
        means the Executive Director of the Board described in section 
        3(f)(2).
            (4) Foundation.--The term ``Foundation'' means the IMPACT 
        for Energy Foundation established under section 3(a).
            (5) Secretary.--The term ``Secretary'' means the Secretary 
        of Energy.

SEC. 3. ESTABLISHMENT OF IMPACT FOR ENERGY FOUNDATION.

    (a) Establishment.--
            (1) In general.--Not later than February 1, 2019, the 
        Secretary shall establish a nonprofit corporation to be known 
        as the ``IMPACT for Energy Foundation''.
            (2) Limitation.--The Foundation shall not be an agency or 
        instrumentality of the Federal Government.
    (b) Purpose and Activities of Foundation.--
            (1) Purpose.--The purpose of the Foundation is to provide a 
        mechanism to channel private sector investments that support 
        efforts to create, develop, and commercialize innovative 
        technologies that address energy challenges, by methods that 
        include--
                    (A) fostering collaboration and partnerships with 
                energy researchers from the Federal Government, State 
                governments, institutions of higher education, 
                federally funded research and development centers, 
                industry, and nonprofit organizations for the research, 
                development, or commercialization of transformative 
                energy technologies;
                    (B) leveraging technologies to support new product 
                development that supports regional economic 
                development; and
                    (C) administering prize competitions to accelerate 
                private sector competition and investment.
            (2) Activities.--
                    (A) In general.--The Foundation may solicit and 
                accept gifts, grants, and other donations, establish 
                accounts, and invest and expend funds in support of the 
                programs and activities described in subparagraphs (B) 
                through (D).
                    (B) Studies, competitions, and projects.--The 
                Foundation may conduct and support studies, 
                competitions, projects, research, development, 
                commercialization, and other activities that further 
                the purpose of the Foundation described in paragraph 
                (1).
                    (C) Fellowships and grants.--
                            (i) In general.--The Foundation may provide 
                        fellowships and grants to recipients selected 
                        under clause (iii) for activities relating to 
                        research, development, prototyping, maturing, 
                        or commercializing of energy technologies.
                            (ii) Uses of fellowships and grants.--A 
                        fellowship or grant under clause (i) may 
                        include stipends, travel, health insurance 
                        benefits, and other appropriate expenses.
                            (iii) Selection.--The Executive Director 
                        shall select the recipient of a fellowship or 
                        grant based on the technical and 
                        commercialization merits of the project.
                            (iv) Federal laboratories.--
                                    (I) In general.--Federal 
                                Laboratories, including laboratories of 
                                the Department of Energy, may apply for 
                                and accept grants under clause (i).
                                    (II) Effect.--A Federal laboratory 
                                that applies for or accepts a grant 
                                under subclause (I) shall not be 
                                considered to be engaging in a 
                                competitive procedure.
                    (D) Supplementary programs.--The Foundation may 
                carry out supplementary programs--
                            (i) to conduct and support forums, 
                        meetings, conferences, courses, and training 
                        workshops consistent with the purpose of the 
                        Foundation described in paragraph (1);
                            (ii) to support and encourage the 
                        understanding and development of--
                                    (I) data reporting models that 
                                promote the translation of technologies 
                                from the research stage, through 
                                development and maturation, and to the 
                                market; and
                                    (II) policies that make regulation 
                                more effective and efficient by 
                                leveraging the technology translation 
                                data described in subclause (I) for the 
                                regulation of relevant technology 
                                sectors;
                            (iii) for writing, editing, printing, 
                        publishing, and vending books and other 
                        materials relating to research carried out 
                        under the Foundation; and
                            (iv) to conduct other activities to carry 
                        out and support the purpose described in 
                        paragraph (1).
                    (E) Authority of foundation.--The Foundation shall 
                be the sole entity responsible for carrying out the 
                activities described in this paragraph.
                    (F) Administrative control.--No participant in a 
                program under this paragraph or employee of the 
                Foundation shall exercise any administrative control 
                over any Federal employee.
    (c) Board of Directors.--
            (1) Membership.--
                    (A) In general.--The Foundation shall operate under 
                the direction of a Board of Directors, which shall be 
                composed of--
                            (i) ex-officio members described in 
                        subparagraph (B); and
                            (ii) appointed members described in 
                        subparagraph (C).
                    (B) Ex-officio members.--
                            (i) Initial members.--
                                    (I) In general.--Subject to 
                                subclause (II), the initial ex-officio 
                                members of the Board shall be--
                                            (aa) the chair of the 
                                        Committee on Energy and Natural 
                                        Resources of the Senate (or a 
                                        designee);
                                            (bb) the ranking minority 
                                        member of the Committee on 
                                        Energy and Natural Resources of 
                                        the Senate (or a designee);
                                            (cc) the chair of the 
                                        Committee on Energy and 
                                        Commerce of the House of 
                                        Representatives (or a 
                                        designee);
                                            (dd) the ranking minority 
                                        member of the Committee on 
                                        Energy and Commerce of the 
                                        House of Representatives (or a 
                                        designee);
                                            (ee) the chair of the 
                                        Committee on Environment and 
                                        Public Works of the Senate (or 
                                        a designee);
                                            (ff) the ranking minority 
                                        member of the Committee on 
                                        Environment and Public Works of 
                                        the Senate (or a designee);
                                            (gg) the chair of the 
                                        Committee on Science, Space, 
                                        and Technology of the House of 
                                        Representatives (or a 
                                        designee);
                                            (hh) the ranking minority 
                                        member of the Committee on 
                                        Science, Space, and Technology 
                                        of the House of Representatives 
                                        (or a designee); and
                                            (ii) the Secretary (or a 
                                        designee).
                                    (II) Designees.--A designee under 
                                subclause (I) shall be a member of the 
                                staff of the applicable chair, ranking 
                                minority member, or Secretary.
                            (ii) Permanent members.--
                                    (I) Termination.--On the 
                                appointment of appointed members of the 
                                Board under subparagraph (C), the terms 
                                of service of the ex-officio members of 
                                the Board described in items (aa) 
                                through (hh) of clause (i)(I) shall 
                                terminate.
                                    (II) Permanent member.--The 
                                Secretary shall serve as a permanent 
                                ex-officio member of the Board.
                            (iii) Nonvoting members.--The ex-officio 
                        members of the Board shall be nonvoting 
                        members.
                    (C) Appointed members.--
                            (i) In general.--The appointed members of 
                        the Board shall be composed of 11 individuals, 
                        which shall include not fewer than 1 but not 
                        more than 5 representatives of each of--
                                    (I) the academic community;
                                    (II) the business community;
                                    (III) nonprofit organizations;
                                    (IV) the communities surrounding 
                                the laboratories and facilities of the 
                                Department of Energy; and
                                    (V) the technology transfer and 
                                commercialization community.
                            (ii) Method of appointment.--
                                    (I) In general.--Not later than 90 
                                days after the date of enactment of 
                                this Act, the ex-officio members of the 
                                Board shall select from a list of 
                                candidates, to be provided by, at the 
                                discretion of the Secretary, the 
                                Secretary of Energy Advisory Board or 
                                the National Academy of Sciences, 
                                individuals for appointment as members 
                                of the Board.
                                    (II) Vote.--For the initial 
                                membership of the Board, an individual 
                                selected for appointment under 
                                subclause (I) shall be appointed on a 
                                vote of not fewer than \3/5\ of the 
                                initial ex-officio members of the 
                                Board.
                            (iii) Restriction on membership.--No 
                        employee of the Department of Energy shall be 
                        appointed as a member of the Board.
                            (iv) Amendment to number of appointed 
                        members.--The Board, through amendments to the 
                        bylaws of the Foundation, may provide that the 
                        number of appointed members of the Board shall 
                        be greater than the number specified in clause 
                        (i).
                    (D) Terms and vacancies.--
                            (i) Terms.--
                                    (I) In general.--Except as provided 
                                in subclause (II), the term of service 
                                of each appointed member of the Board 
                                shall be 5 years.
                                    (II) Initial appointed members.--
                                The term of service for each initial 
                                appointed member of the Board shall 
                                be--
                                            (aa) determined by the 
                                        initial ex-officio members of 
                                        the Board and the initial Chair 
                                        to ensure that the continuity 
                                        of representation of board 
                                        members from each of the areas 
                                        described in subclauses (I) 
                                        through (V) of subparagraph 
                                        (C)(i); and
                                            (bb) for a term of either 3 
                                        or 4 years.
                            (ii) Vacancies.--
                                    (I) In general.--Any vacancy in the 
                                membership of the appointed members of 
                                the Board--
                                            (aa) shall be filled in 
                                        accordance with the bylaws of 
                                        the Foundation established 
                                        under subsection (d)(1)(B); and
                                            (bb) shall not affect the 
                                        power of the remaining 
                                        appointed members to execute 
                                        the duties of the Board.
                                    (II) Filling unexpired term.--An 
                                individual appointed to fill a vacancy 
                                shall be appointed for the unexpired 
                                term of the member replaced.
                                    (III) Service until vacancy 
                                filled.--An appointed member of the 
                                Board may continue to serve on the 
                                Board after the expiration of the term 
                                of the member until a successor is 
                                appointed.
            (2) Chair.--
                    (A) Initial chair.--The initial Chair of the Board 
                shall be an initial ex-officio member elected by the 
                initial ex-officio members of the Board for a 3-year 
                term that shall expire on the appointment of the next 
                Chair.
                    (B) Chair after members are appointed.--On the 
                termination of the term of service of the initial Chair 
                under subparagraph (A), the appointed members of the 
                Board shall elect an appointed member of the Board to 
                serve as the Chair, who shall serve as the Chair for 
                the entire remaining term of service of that member.
            (3) Compensation.--
                    (A) In general.--Members of the Board may not 
                receive compensation for service on the Board.
                    (B) Certain expenses.--In accordance with the 
                bylaws of the Foundation, members of the Board may be 
                reimbursed for travel expenses, including per diem in 
                lieu of subsistence, and other necessary expenses 
                incurred in carrying out the duties of the Board.
    (d) Meetings and Quorum.--
            (1) Meetings.--Not later than 180 days after the 
        establishment of the appointed Board, the initial appointed 
        members of the Board shall--
                    (A) serve as incorporators; and
                    (B) take such actions as are necessary--
                            (i) to incorporate the Foundation;
                            (ii) to establish the bylaws of the 
                        Foundation;
                            (iii) to establish the general policies of 
                        the Foundation for carrying out the purpose 
                        described in subsection (b)(1); and
                            (iv) to appoint the members of the Board in 
                        accordance with subsection (c)(1)(C)(ii).
            (2) Quorum.--A majority of the members of the Board shall 
        constitute a quorum for purposes of conducting the business of 
        the Board.
    (e) Certain Bylaws.--
            (1) In general.--The Board shall include in the bylaws of 
        the Foundation established under subsection (d)(1)(B) the 
        following policies:
                    (A) Policies for the selection of the officers, 
                employees, agents, and contractors of the Foundation.
                    (B) Policies, including ethical standards, for the 
                acceptance, solicitation, and disposition of gifts, 
                grants, and other donations to the Foundation, which 
                shall require that--
                            (i) officers, employees, agents, and 
                        contractors of the Foundation (including 
                        members of the Board) avoid encumbrances that 
                        would result in a conflict of interest, 
                        including a financial conflict of interest or a 
                        divided allegiance; and
                            (ii) information concerning any ownership 
                        or controlling interest in any entity related 
                        to the activities of the Foundation be 
                        disclosed by officers, employees, agents, and 
                        contractors of the Foundation (including 
                        members of the Board) and the relatives (as 
                        defined in section 109 of the Ethics in 
                        Government Act of 1978 (5 U.S.C. App.)) of the 
                        officers, employees, agents, contractors, and 
                        members.
                    (C) Policies for the disposition of the assets of 
                the Foundation.
                    (D) Policies for the conduct of the general 
                operations of the Foundation.
                    (E) Policies for writing, editing, printing, 
                publishing, and vending of books and other materials.
            (2) Requirements.--In establishing the bylaws of the 
        Foundation, the Board shall ensure that the bylaws of the 
        Foundation and the activities carried out under the bylaws of 
        the Foundation shall not--
                    (A) reflect unfavorably on the ability of the 
                Foundation or the Secretary to carry out 
                responsibilities or official duties in a fair and 
                objective manner; or
                    (B) compromise, or appear to compromise, the 
                integrity of any agency or program of the Federal 
                Government, or any officer or employee involved in the 
                program.
    (f) Powers and Duties.--
            (1) Operation under direction of board.--The Foundation 
        shall operate under the direction of the Board.
            (2) Executive director.--
                    (A) In general.--An Executive Director of the 
                Foundation shall be--
                            (i) appointed by, and serve at the pleasure 
                        of, the Board; and
                            (ii) responsible for--
                                    (I) the day-to-day operations of 
                                the Foundation; and
                                    (II) such specific duties and 
                                responsibilities as the Board may 
                                prescribe.
                    (B) Compensation.--The rate of compensation of the 
                Executive Director shall be fixed by the Board.
            (3) Corporate seal.--The Foundation may adopt, alter, and 
        use a corporate seal, which shall be judicially noticed.
            (4) Officers, employees, and agents.--The Foundation may--
                    (A) hire, promote, compensate, and discharge 
                officers, employees, agents, and contractors;
                    (B) define the duties of the officers, employees, 
                agents, and contractors;
                    (C) require surety bonds or make other provisions 
                against losses occasioned by acts of the officers, 
                employees, agents, or contractors;
                    (D) with the consent of any Federal agency, use the 
                information, services, staff, and facilities of the 
                agency; and
                    (E) appoint other groups of advisors as may be 
                determined necessary.
            (5) Other powers.--The Foundation may--
                    (A) modify or consent to the modification of any 
                contract or agreement to which the Foundation is a 
                party or in which the Foundation has an interest;
                    (B) enter into contracts with public and private 
                organizations for the writing, editing, printing, and 
                publishing of books and other material;
                    (C) take such action as may be necessary to obtain 
                patents and licenses for devices and procedures 
                developed by the Foundation;
                    (D) enter into contracts, leases, cooperative 
                agreements, and other transactions as the Executive 
                Director considers appropriate to conduct the 
                activities of the Foundation;
                    (E) solicit, accept, hold, administer, invest, and 
                spend any gift, devise, or bequest of real or personal 
                property made to the Foundation;
                    (F) sue and be sued in its corporate name and 
                complain and defend itself in any court of competent 
                jurisdiction; and
                    (G) exercise such other powers, including 
                incidental powers, as are necessary to carry out the 
                powers, duties, and functions of the Foundation under 
                this Act.
            (6) Fees.--The Foundation may assess fees for the provision 
        of professional, administrative, and management services by the 
        Foundation in amounts determined reasonable and appropriate by 
        the Executive Director.
    (g) Incorporation.--The initial members of the Board shall serve as 
incorporators and shall take any actions necessary to incorporate the 
Foundation.
    (h) Nonprofit Status.--The Foundation shall be considered to be an 
organization described in section 501(c) of the Internal Revenue Code 
of 1986, and exempt from taxation under section 501(a) of such Code.
    (i) General Provisions.--
            (1) Foundation integrity.--The Board shall--
                    (A) be accountable for the integrity of the 
                operations of the Foundation; and
                    (B) ensure that integrity through the development 
                and enforcement of criteria and procedures relating 
                to--
                            (i) standards of conduct;
                            (ii) financial disclosure statements;
                            (iii) conflicts of interest;
                            (iv) recusals and waivers;
                            (v) audits; and
                            (vi) other matters determined appropriate 
                        by the Board.
            (2) Financial conflicts of interest.--Any individual who is 
        an officer, employee, or member of the Board shall not, in 
        accordance with the policies established under subsection 
        (e)(1)(B)(ii), personally or substantially participate in the 
        consideration or determination by the Board of any matter that 
        would directly and foreseeably affect any financial interest 
        of--
                    (A) the individual;
                    (B) a relative (as defined in section 109 of the 
                Ethics in Government Act of 1978 (5 U.S.C. App.)) of 
                the individual; or
                    (C) any business organization or other entity--
                            (i) of which the individual is an officer 
                        or employee;
                            (ii) of which the individual is negotiating 
                        for employment; or
                            (iii) in which the individual has any other 
                        financial interest.
            (3) Audits; availability of records.--The Board shall--
                    (A) conduct annual audits of the financial 
                condition of the Foundation; and
                    (B) make those audits, and all other records, 
                documents, and other papers of the Foundation, 
                available to the Secretary and the Comptroller General 
                of the United States for examination or audit.
            (4) Reports.--
                    (A) In general.--Not later than 150 days after the 
                end of each fiscal year, the Board shall publish a 
                report describing the activities of the Foundation 
                during the preceding fiscal year.
                    (B) Contents.--Each report published under 
                subparagraph (A) shall include, for the applicable 
                fiscal year--
                            (i) a comprehensive statement of the 
                        operations, activities, financial condition, 
                        and accomplishments of the Foundation, 
                        including an accounting of the use of amounts 
                        transferred under subsection (k)(1); and
                            (ii) with respect to the financial 
                        condition of the Foundation--
                                    (I) the source, and a description, 
                                of each gift or grant of real or 
                                personal property to the Foundation;
                                    (II) the source and amount of each 
                                cash gift or grant to the Foundation; 
                                and
                                    (III) a specification of any 
                                restrictions on the purposes for which 
                                the gifts and grants described in 
                                subclauses (I) and (II) may be used.
                    (C) Availability.--The Board shall--
                            (i) make copies of each report submitted 
                        under subparagraph (A) available--
                                    (I) for public inspection; and
                                    (II) to the appropriate committees 
                                of Congress; and
                            (ii) on request, provide a copy of any 
                        report submitted under subparagraph (A) to any 
                        individual for a charge that shall not exceed 
                        the cost of providing the copy.
                    (D) Public meeting.--The Board shall annually hold 
                a public meeting--
                            (i) to summarize the activities of the 
                        Foundation; and
                            (ii) to distribute written reports 
                        describing--
                                    (I) those activities; and
                                    (II) the scientific results derived 
                                from those activities.
            (5) Service of federal employees.--A Federal employee may 
        serve on a committee advisory to the Foundation and otherwise 
        cooperate with and assist the Foundation in carrying out this 
        Act, subject to the condition that the Federal employee shall 
        not direct or control any activity of the Foundation.
            (6) Relationship with existing entities.--The Board may, in 
        accordance with appropriate agreements, merge the Foundation 
        with, acquire, or use the resources of an existing nonprofit 
        private corporation that has a mission similar to the purpose 
        of the Foundation described in subsection (b)(1).
            (7) Intellectual property rights.--The Board shall adopt 
        written standards with respect to the ownership of any 
        intellectual property rights derived from the collaborative 
        efforts of the Foundation before the commencement of any 
        collaborative efforts.
            (8) Transfer of funds.--The Board may transfer amounts to 
        the Secretary, and the Secretary may accept transfers of 
        amounts from the Foundation.
    (j) Support Services.--The Secretary may provide facilities, 
utilities, and support services to the Foundation if it is determined 
by the Secretary to be advantageous to the research programs of the 
Department of Energy.
    (k) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section such sums as are necessary for 
fiscal year 2018 and each fiscal year thereafter.

SEC. 4. ESTABLISHMENT OF FOR-PROFIT SUBSIDIARIES.

    (a) Establishment.--The Board may establish one or more for-profit 
subsidiaries, which may include an impact investment fund--
            (1) to stimulate economic development activities relating 
        to the purpose of the Foundation described in section 3(b)(1); 
        and
            (2) to attract for-profit investment partners for 
        technology translation and commercialization activities.
    (b) Authorities of the For-Profit Subsidiary.--
            (1) In general.--Subject to paragraph (2), a for-profit 
        subsidiary established under subsection (a) may--
                    (A) enter partnerships with economic development 
                corporations, including incubators, accelerators, and 
                small business investment companies;
                    (B) pay for the cost of building and administering 
                facilities, including microlabs and incubators, to 
                support the activities of the Foundation described in 
                section 3(b)(2); and
                    (C) provide funding to startups.
            (2) Cost recovery requirements.--A for-profit subsidiary 
        established under subsection (a) shall--
                    (A) ensure that the Foundation owns any 
                intellectual property rights generated through 
                activities funded by the for-profit subsidiary, if 
                appropriate; and
                    (B) own an equity stake in any startup invested in 
                by the for-profit subsidiary.
                                 <all>