COMPETE Act of 2007

Bill: 110-s-833
Sponsor: Sen. Coleman, Norm [R-MN]
Introduced: 2007-03-09 in the Senate
Policy area: Science, Technology, Communications
Subjects: Academic performance
Charitable contributions
Commerce
Corporate philanthropy
Corporation taxes
Depressed areas
Disabled
Disaster relief
Economics and Public Finance
Education
Education of the disadvantaged
Educational accountability
Elementary and secondary education
Elementary education
Emergency Management
Employment of the disabled
Engineering
Engineers
Enterprise zones
Federal aid to education
Foreign Trade and International Finance
Higher education
Housing and Community Development
Income tax
Indian economic development
Information technology
Infrastructure
International competitiveness
Job creation
Labor and Employment
Law
Mathematics
Mentoring
Minorities
Minority education
Research and development tax credit
Rural economic development
Scholarships
Scientific education
Secondary education
Small business
Student employment
Tax credits
Tax deductions
Technical education
Tuition tax credits
Women
Women's education

Summary:
action_date: 2007-03-09
text: 
Competitiveness through Education, Technology, and Enterprise Act of 2007 or the COMPETE Act of 2007 - Amends the Internal Revenue Code to provide tax incentives for research and education by: (1) making permanent the credit for increasing research activities; (2) providing a credit for information and communications technology education; and (3) setting an alternative percentage limitation for corporate charitable contributions to the mathematics and science partnership program.
 
Directs the Administrator of the Small Business Administration to establish an SBIR-STEM Workforce Development Grant Pilot program awarding bonus grants to grantees under the Small Business Innovation Research program to provide workforce development opportunities to college students in the science, technology, engineering, and mathematics fields.
 
Expresses the sense of the Senate that the maximum Pell Grant should be increased from $4,600 for academic year 2008-2009 to $5,400 for academic year 2012-2013.
 
Authorizes the Secretary of Energy to award matching grants to institutions of higher education to: (1) provide stipends or other financial assistance for students enrolled in graduate programs in the sciences, technology, engineering, or mathematics; and (2) support outreach and mentoring activities to increase the participation of underrepresented groups in the sciences, technology, engineering, or mathematics at all or any level of education, including elementary, secondary and postsecondary education.
 
Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to make partnership bonus grants annually to a certain number of elementary and of secondary schools in each state that show the most improvement in mathematics and in science, respectively.


Legislative actions:
action_date: 2007-03-09
text: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2971-2973)
action_date: 2007-03-09
text: Sponsor introductory remarks on measure. (CR S2970-2971)
action_date: 2007-03-09
text: Introduced in Senate