In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Deficit Reduction Act of 2003''.

         TITLE I--REFORMED BUREAU OF RECLAMATION WATER PRICING

SECTION 101. SHORT TITLE.

    This Act may be cited as the ``Irrigation Subsidy Reduction Act of 
2001''.

SEC. 102. FINDINGS.

    Congress finds that--
            (1) the Federal reclamation program has been in existence 
        for over 90 years, with an estimated taxpayer investment of 
        over $70,000,000,000;
            (2) the program has had and continues to have an enormous 
        effect on the water resources and aquatic environments of the 
        western States;
            (3) irrigation water made available from Federal water 
        projects in the West is a very valuable resource for which 
        there are increasing and competing demands;
            (4) the justification for providing water at less than full 
        cost was to benefit and promote the development of small family 
        farms and exclude large corporate farms, but this purpose has 
        been frustrated over the years due to inadequate implementation 
        of subsidy and acreage limits;
            (5) below-cost water prices tend to encourage excessive use 
        of scarce water supplies in the arid regions of the West, and 
        reasonable price increases to the wealthiest western farmers 
        would provide an economic incentive for greater water 
        conservation;
            (6) the Federal Government has increasingly applied 
        eligibility tests based on income for Federal entitlement and 
        subsidy programs, measures that are consistent with the 
        historic approach of the reclamation program's acreage 
        limitations that seek to limit water subsidies to smaller 
        farms; and
            (7) including a means test based on gross income in the 
        reclamation program will increase the effectiveness of carrying 
        out the family farm goals of the Federal reclamation laws.

SEC. 103. AMENDMENTS.

    (a) Definitions.--Section 202 of the Reclamation Reform Act of 1982 
(43 U.S.C. 390bb) is amended--
            (1) by redesignating paragraphs (7), (8), (9), (10), and 
        (11) as paragraphs (9), (10), (11), (12), and (13), 
        respectively;
            (2) in paragraph (6), by striking ``owned or operated under 
        a lease which'' and inserting ``that is owned, leased, or 
        operated by an individual or legal entity and that'';
            (3) by inserting after paragraph (6) the following:
            ``(7) Legal entity.--The term `legal entity' includes a 
        corporation, association, partnership, trust, joint tenancy, or 
        tenancy in common, or any other entity that owns, leases, or 
        operates a farm operation for the benefit of more than 1 
        individual under any form of agreement or arrangement.
            ``(8) Operator.--
                    ``(A) In general.--The term `operator'--
                            ``(i) means an individual or legal entity 
                        that operates a single farm operation on a 
                        parcel (or parcels) of land that is owned or 
                        leased by another person (or persons) under any 
                        form of agreement or arrangement (or agreements 
                        or arrangements); and
                            ``(ii) if the individual or legal entity--
                                    ``(I) is an employee of an 
                                individual or legal entity, includes 
                                the individual or legal entity; or
                                    ``(II) is a legal entity that 
                                controls, is controlled by, or is under 
                                common control with another legal 
                                entity, includes each such other legal 
                                entity.
                    ``(B) Operation of a farm operation.--For the 
                purposes of subparagraph (A), an individual or legal 
                entity shall be considered to operate a farm operation 
                if the individual or legal entity is the person that 
                performs the greatest proportion of the decisionmaking 
                for and supervision of the agricultural enterprise on 
                land served with irrigation water.''; and
            (4) by adding at the end the following:
            ``(14) Single farm operation.--
                    ``(A) In general.--The term `single farm operation' 
                means the total acreage of land served with irrigation 
                water for which an individual or legal entity is the 
                operator.
                    ``(B) Rules for determining whether separate 
                parcels are operated as a single farm operation.--
                            ``(i) Equipment- and labor-sharing 
                        activities.--The conduct of equipment- and 
                        labor-sharing activities on separate parcels of 
                        land by separate individuals or legal entities 
                        shall not by itself serve as a basis for 
                        concluding that the farming operations of the 
                        individuals or legal entities constitute a 
                        single farm operation.
                            ``(ii) Performance of certain services.--
                        The performance by an individual or legal 
                        entity of an agricultural chemical application, 
                        pruning, or harvesting for a farm operation on 
                        a parcel of land shall not by itself serve as a 
                        basis for concluding that the farm operation on 
                        that parcel of land is part of a single farm 
                        operation operated by the individual or entity 
                        on other parcels of land.''.
    (b) Identification of Owners, Lessees, and Operators and of Single 
Farm Operations.--The Reclamation Reform Act of 1982 (43 U.S.C. 390aa 
et seq.) is amended by inserting after section 201 the following:

``SEC. 201A. IDENTIFICATION OF OWNERS, LESSEES, AND OPERATORS AND OF 
              SINGLE FARM OPERATIONS.

    ``(a) In General.--Subject to subsection (b), for each parcel of 
land to which irrigation water is delivered or proposed to be 
delivered, the Secretary shall identify a single individual or legal 
entity as the owner, lessee, or operator.
    ``(b) Shared Decisionmaking and Supervision.--If the Secretary 
determines that no single individual or legal entity is the owner, 
lessee, or other individual that performs the greatest proportion of 
decisionmaking for and supervision of the agricultural enterprise on a 
parcel of land--
            ``(1) all individuals and legal entities that own, lease, 
        or perform a proportion of decisonmaking and supervision that 
        is equal as among themselves but greater than the proportion 
        performed by any other individual or legal entity shall be 
        considered jointly to be the owner, lessee, or operator; and
            ``(2) all parcels of land of which any such individual or 
        legal entity is the owner, lessee, or operator shall be 
        considered to be part of the single farm operation of the 
        owner, lessee, or operator identified under subsection (1).''.
    (c) Pricing.--Section 205 of the Reclamation Reform Act of 1982 (43 
U.S.C. 390ee) is amended by adding at the end the following:
    ``(d) Single Farm Operations Generating More Than $500,000 in Gross 
Farm Income.--
            ``(1) In general.--Notwithstanding subsections (a), (b), 
        and (c), in the case of--
                    ``(A) a qualified recipient that reports gross farm 
                income from a single farm operation in excess of 
                $500,000 for a taxable year; or
                    ``(B) a limited recipient that received irrigation 
                water on or before October 1, 1981, and that reports 
                gross farm income from a single farm operation in 
                excess of $500,000 for a taxable year;
            irrigation water may be delivered to the single farm 
        operation of the qualified recipient or limited recipient at 
        less than full cost to a number of acres that does not exceed 
        the number of acres determined under paragraph (2).
            ``(2) Maximum number of acres to which irrigation water may 
        be delivered at less than full cost.--The number of acres 
        determined under this subparagraph is the number equal to the 
        number of acres of the single farm operation multiplied by a 
        fraction, the numerator of which is $500,000 and 
the denominator of which is the amount of gross farm income reported by 
the qualified recipient or limited recipient in the most recent taxable 
year.
            ``(3) Inflation adjustment.--
                    ``(A) In general.--The $500,000 amount under 
                paragraphs (1) and (2) for any taxable year beginning 
                in a calendar year after 2002 shall be equal to the 
                product of--
                            ``(i) $500,000, multiplied by
                            ``(ii) the inflation adjustment factor for 
                        the taxable year.
                    ``(B) Inflation adjustment factor.--The term 
                `inflation adjustment factor' means, with respect to 
                any calendar year, a fraction the numerator of which is 
                the GDP implicit price deflator for the preceding 
                calendar year and the denominator of which is the GDP 
                implicit price deflator for 2002. Not later than April 
                1 of any calendar year, the Secretary shall publish the 
                inflation adjustment factor for the preceding calendar 
                year.
                    ``(C) GDP implicit price deflator.--For purposes of 
                subparagraph (B), the term `GDP implicit price 
                deflator' means the first revision of the implicit 
                price deflator for the gross domestic product as 
                computed and published by the Secretary of Commerce.
                    ``(D) Rounding.--If any increase determined under 
                subparagraph (A) is not a multiple of $100, the 
                increase shall be rounded to the next lowest multiple 
                of $100.''.
    (d) Certification of Compliance.--Section 206 of the Reclamation 
Reform Act of 1982 (43 U.S.C. 390ff) is amended to read as follows:

``SEC. 206. CERTIFICATION OF COMPLIANCE.

    ``(a) In General.--As a condition to the receipt of irrigation 
water for land in a district that has a contract described in section 
203, each owner, lessee, or operator in the district shall furnish the 
district, in a form prescribed by the Secretary, a certificate that the 
owner, lessee, or operator is in compliance with this title, including 
a statement of the number of acres owned, leased, or operated, the 
terms of any lease or agreement pertaining to the operation of a farm 
operation, and, in the case of a lessee or operator, a certification 
that the rent or other fees paid reflect the reasonable value of the 
irrigation water to the productivity of the land.
    ``(b) Documentation.-- The Secretary may require a lessee or 
operator to submit for the Secretary's examination--
            ``(1) a complete copy of any lease or other agreement 
        executed by each of the parties to the lease or other 
        agreement; and
            ``(2) a copy of the return of income tax imposed by chapter 
        1 of the Internal Revenue Code of 1986 for any taxable year in 
        which the single farm operation of the lessee or operator 
        received irrigation water at less than full cost.''.
    (e) Trusts.--Section 214 of the Reclamation Reform Act of 1982 (43 
U.S.C. 390nn) is repealed.
    (f) Administrative Provisions.--
            (1) Penalties.--Section 224(c) of the Reclamation Reform 
        Act of 1982 (43 U.S.C. 390ww(c)) is amended--
                    (A) by striking ``(c) The Secretary'' and inserting 
                the following:
    ``(c) Regulations; Data Collection; Penalties.--
            ``(1) Regulations; data collection.--The Secretary''; and
                    (B) by adding at the end the following:
            ``(2) Penalties.--Notwithstanding any other provision of 
        law, the Secretary shall establish appropriate and effective 
        penalties for failure to comply with any provision of this Act 
        or any regulation issued under this Act.''.
            (2) Interest.--Section 224(i) of the Reclamation Reform Act 
        of 1982 (43 U.S.C. 390ww(i)) is amended by striking the last 
        sentence and inserting the following: ``The interest rate 
        applicable to underpayments shall be equal to the rate 
        applicable to expenditures under section 202(3)(C).''.
    (g) Reporting.--Section 228 of the Reclamation Reform Act of 1982 
(43 U.S.C. 390zz) is amended by inserting ``operator or'' before 
``contracting entity'' each place it appears.
    (h) Memorandum of Understanding.--The Reclamation Reform Act of 
1982 (43 U.S.C. 390aa et seq.) is amended--
            (1) by redesignating sections 229 and 230 as sections 230 
        and 231; and
            (2) by inserting after section 228 the following:

``SEC. 229. MEMORANDUM OF UNDERSTANDING.

    ``The Secretary, the Secretary of the Treasury, and the Secretary 
of Agriculture shall enter into a memorandum of understanding or other 
appropriate instrument to permit the Secretary, notwithstanding section 
6103 of the Internal Revenue Code of 1986, to have access to and use of 
available information collected or maintained by the Department of the 
Treasury and the Department of Agriculture that would aid enforcement 
of the ownership and pricing limitations of Federal reclamation law.''.

   TITLE II--TERMINATION OF THE UNIFORMED SERVICES UNIVERSITY OF THE 
                            HEALTH SCIENCES

SECTION 201. TERMINATION.

    (a) In General.--The Uniformed Services University of the Health 
Sciences is terminated.
    (b) Conforming Amendments.--
            (1) Chapter 104 of title 10, United States Code, is 
        repealed.
            (2) The table of chapters at the beginning of subtitle A of 
        such title, and at the beginning of part III of such subtitle, 
        are each amended by striking out the item relating to chapter 
        104.
    (c) Effective Dates.--
            (1) Termination.--The termination of the Uniformed Services 
        University of the Health Sciences under subsection (a)(1) shall 
        take effect on the day after the date of the graduation from 
        the university of the last class of students that enrolled in 
        such university on or before the date of the enactment of this 
        Act.
            (2) Amendments.--The amendments made by subsection (a)(2) 
        shall take effect on the date of the enactment of this Act, 
        except that the provisions of chapter 104 of title 10, United 
        States Code, as in effect on the day before such date, shall 
        continue to apply with respect to the Uniformed Services 
        University of the Health Sciences until the termination of the 
        university under this section.

 TITLE III--TERMINATION OF PRODUCTION UNDER THE D5 SUBMARINE-LAUNCHED 
                            MISSILE PROGRAM

SECTION 301. PRODUCTION TERMINATION.

    (a) Termination of Program.--The Secretary of Defense shall 
terminate production of D5 submarine-launched ballistic missiles under 
the D5 submarine-launched ballistic missile program.
    (b) Payment of Termination Costs.--Funds available on or after the 
date of the enactment of this Act for obligation for the D5 submarine-
launched ballistic missile program may be obligated for production 
under that program only for payment of the costs associated with the 
termination of production under this Act.

SEC. 302. CURRENT PROGRAM ACTIVITIES.

    Nothing in this legislation shall be construed to prohibit or 
otherwise affect the availability of funds for the following:
            (1) Production of D5 submarine-launched ballistic missiles 
        in production on the date of the enactment of this Act.
            (2) Maintenance after the date of the enactment of this Act 
        of the arsenal of D5 submarine-launched ballistic missiles in 
        existence on such date, including the missiles described in 
        paragraph (1).
Example Output: Deficit Reduction Act of 2003 - Irrigation Subsidy Reduction Act of 2001 (sic) - Amends the Reclamation Reform Act of 1982 to direct the Secretary of the Interior, for each parcel of land to which irrigation water is delivered or proposed to be delivered, to identify a single individual or legal entity as the owner, lessee, or operator.Allows irrigation water to be delivered at less than the normal per-acre cost to either: (1) a qualified recipient that reports gross farm income from a single farm operation in excess of $500,000 per taxable year; or (2) a limited recipient that received such water on or before October 1, 1981, and that reports gross farm income in excess of such amount.Requires lessees (currently, only owners and operators) of an irrigation district to furnish such district a certification of compliance with the Act. Allows the Secretary to require a lessee or operator to submit for examination a copy of a tax return for any taxable year in which the single farm operation of the lessee or operator received irrigation water at less than full cost.Repeals a provision exempting from Federal reclamation ownership and cost pricing limitations district lands held in trust for a beneficiary or beneficiaries whose interests in the lands served do not exceed such limitations.Directs the Secretaries of the Interior, the Treasury, and Agriculture to enter into a memorandum of understanding to permit the Secretary of the Interior to have access to and use available information collected or maintained by either the Department of the Treasury or Agriculture that would aid in enforcement of the ownership and pricing limitations of Federal reclamation law.Terminates the Uniformed Services University of Health Science.Requires the Secretary of Defense to terminate production of D5 submarine-launched ballistic missiles under the D5 submarine-launched ballistic missile program.

Example Input: SECTION 1. REQUIREMENT FOR FEDERAL CONTRACTORS TO POSSESS SATISFACTORY 
              RECORD OF INTEGRITY AND BUSINESS ETHICS.

    (a) Defense Contractors.--(1) Chapter 137 of title 10, United 
States Code, is amended by inserting after section 2305a the following 
new section:
``Sec. 2305b. Contractor requirement for satisfactory record of 
              integrity and business ethics
    ``(a) In General.--No prospective contractor may be awarded a 
contract with an agency under this title unless the contracting officer 
for the contract determines that such prospective contractor has a 
satisfactory record of integrity and business ethics, including a 
record of satisfactory compliance with the law (including tax, labor 
and employment, environmental, antitrust, and consumer protection 
laws).
    ``(b) Information To Be Considered.--In making a determination as 
to whether a prospective contractor has a satisfactory record of 
integrity and business ethics, a contracting officer--
            ``(1) shall consider all relevant credible information, but 
        shall give the greatest weight to any violations of law that 
        have been adjudicated during the 3-year period preceding the 
        offer by the prospective contractor;
            ``(2) shall consider any administrative agreements entered 
        into with the prospective contractor if the prospective 
        contractor has taken corrective action after disclosing a 
        violation of law, and may consider such a contractor to be a 
        responsible contractor if the contractor has corrected the 
        conditions that led to the misconduct;
            ``(3) shall consider failure to comply with the terms of an 
        administrative agreement to be a lack of integrity and business 
        ethics under this section;
            ``(4) may consider other relevant information, such as 
        civil or administrative complaints or similar actions filed by 
        or on behalf of a Federal agency, board, or commission, if such 
        action reflects an adjudicated determination by the agency; and
            ``(5) shall consider the following in descending order of 
        importance:
                    ``(A) Convictions of and civil judgments rendered 
                against the prospective contractor for--
                            ``(i) commission of fraud or a criminal 
                        offense in connection with obtaining, 
                        attempting to obtain, or performing a Federal, 
                        State, or local contract or subcontract;
                            ``(ii) violation of Federal or State 
                        antitrust law relating to the submission of 
                        offers; or
                            ``(iii) commission of embezzlement, theft, 
                        forgery, bribery, falsification, or destruction 
                        of records, making false statement, tax 
                        evasion, or receiving stolen property.
                    ``(B) Indictments for the offenses described in 
                subparagraph (A).
                    ``(C) With respect to tax, labor, employment, 
                environmental, antitrust, or consumer protection laws--
                            ``(i) Federal or State felony convictions;
                            ``(ii) adverse Federal court judgments in 
                        civil cases brought by the United States;
                            ``(iii) adverse decisions by a Federal 
                        administrative law judge, board, or commission 
                        indicating violations of law; and
                            ``(iv) Federal or State felony 
                        indictments.''.
    (2) The table of sections at the beginning of such chapter is 
amended by inserting after the item relating to section 2305a the 
following new item:

``2305b. Contractor requirement for satisfactory record of integrity 
                            and business ethics.''.
    (b) Other Contractors.--(1) Title III of the Federal Property and 
Administrative Services Act of 1949 (41 U.S.C. 251 et seq.) is amended 
by inserting after section 303L the following new section:

``SEC. 303M. CONTRACTOR REQUIREMENT FOR SATISFACTORY RECORD OF 
              INTEGRITY AND BUSINESS ETHICS.

    ``(a) In General.--No prospective contractor may be awarded a 
contract with an agency unless the contracting officer for the contract 
determines that such prospective contractor has a satisfactory record 
of integrity and business ethics, including a record of satisfactory 
compliance with the law (including tax, labor and employment, 
environmental, antitrust, and consumer protection laws).
    ``(b) Information To Be Considered.--In making a determination as 
to whether a prospective contractor has a satisfactory record of 
integrity and business ethics, a contracting officer--
            ``(1) shall consider all relevant credible information, but 
        shall give the greatest weight to any violations of law that 
        have been adjudicated during the 3-year period preceding the 
        offer by the prospective contractor;
            ``(2) shall consider any administrative agreements entered 
        into with the prospective contractor if the prospective 
        contractor has taken corrective action after disclosing a 
        violation of law, and may consider such a contractor to be a 
        responsible contractor if the contractor has corrected the 
        conditions that led to the misconduct;
            ``(3) shall consider failure to comply with the terms of an 
        administrative agreement to be a lack of integrity and business 
        ethics under this section;
            ``(4) may consider other relevant information, such as 
        civil or administrative complaints or similar actions filed by 
        or on behalf of a Federal agency, board, or commission, if such 
        action reflects an adjudicated determination by the agency; and
            ``(5) shall consider the following in descending order of 
        importance:
                    ``(A) Convictions of and civil judgments rendered 
                against the prospective contractor for--
                            ``(i) commission of fraud or a criminal 
                        offense in connection with obtaining, 
                        attempting to obtain, or performing a Federal, 
                        State, or local contract or subcontract;
                            ``(ii) violation of Federal or State 
                        antitrust law relating to the submission of 
                        offers; or
                            ``(iii) commission of embezzlement, theft, 
                        forgery, bribery, falsification, or destruction 
                        of records, making false statement, tax 
                        evasion, or receiving stolen property.
                    ``(B) Indictments for the offenses described in 
                subparagraph (A).
                    ``(C) With respect to tax, labor, employment, 
                environmental, antitrust, or consumer protection laws--
                            ``(i) Federal or State felony convictions;
                            ``(ii) adverse Federal court judgments in 
                        civil cases brought by the United States;
                            ``(iii) adverse decisions by a Federal 
                        administrative law judge, board, or commission 
                        indicating violations of law; and
                            ``(iv) Federal or State felony 
                        indictments.''.
    (2) The table of sections at the beginning of such Act is amended 
by inserting after the item relating to section 303L the following new 
item:

``303M. Contractor requirement for satisfactory record of integrity and 
                            business ethics.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to contracts for which solicitations are issued 
after the date of the enactment of this Act.
Example Output: Amends Federal defense contract law and the Federal Property and Administrative Services Act of 1949 to prohibit a contractor from being awarded a defense or Federal contract unless the Federal contracting officer determines that such contractor has a satisfactory record of integrity and business ethics, including compliance with all applicable laws. Outlines information to be considered by a contracting officer in making such determination, with an emphasis on any violations that have been adjudicated during the prior three-year period, as well as certain convictions of and civil judgments rendered against such contractor.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Early-Stage Business Investment and 
Incubation Act of 2010''.

SEC. 2. EARLY-STAGE BUSINESS INVESTMENT AND INCUBATION GRANT PROGRAM.

    (a) Establishment.--Not later than 60 days after the date of 
enactment of this Act, the Secretary of Commerce shall establish an 
early-stage business investment and incubation grant program (in this 
section referred to as the ``program'') to support the development of 
early-stage businesses in targeted industries.
    (b) Grant Authority.--
            (1) In general.--In carrying out the program, the Secretary 
        is authorized to make grants to covered business incubators.
            (2) Grant amounts.--
                    (A) Non-federal capital limitation.--A grant made 
                to a covered business incubator under the program may 
                not be in an amount that exceeds the amount of the 
                incubator's capital that--
                            (i) is not from a Federal source; and
                            (ii) is available for investment and 
                        incubation services on or before the date on 
                        which a grant is drawn upon.
                    (B) Aggregate amount limitation.--The aggregate 
                amount of all grants made to a covered business 
                incubator under the program may not exceed $5,000,000.
    (c) Grant Award Process.--In making a grant under the program, the 
Secretary shall commit a grant amount to a covered business incubator 
and the amount of each such commitment shall remain available to be 
drawn upon by such incubator during the 5-year period beginning on the 
date on which each such commitment is first drawn upon.
    (d) Use of Grant.--
            (1) In general.--A grant made under the program may be used 
        by a covered business incubator for the following:
                    (A) Making an investment in an early-stage business 
                in a targeted industry.
                    (B) Providing training, counseling, and other 
                assistance to an early-stage business in a targeted 
                industry to support the development of the business.
                    (C) Providing purchased services to an early-stage 
                business in a targeted industry.
                    (D) Conducting due diligence activities.
                    (E) Meeting operational expenses.
            (2) Limitations.--
                    (A) Purchased services.--Not more than 20 percent 
                of the amount of a grant made to a covered business 
                incubator under the program may be used by the 
                incubator to provide purchased services to an early-
                stage business in a targeted industry.
                    (B) Due diligence activities.--Not more than 6 
                percent of the amount of a grant made to a covered 
                business incubator under the program may be used by the 
                incubator to conduct due diligence activities.
                    (C) Operational expenses.--Not more than 5 percent 
                of the amount of a grant made to a covered business 
                incubator under the program may be used by the 
                incubator to meet operational expenses.
            (3) Designation of grant uses.--In the application of a 
        covered business incubator for a grant under the program, the 
        incubator shall notify the Secretary of the percentage of the 
        grant amount that will be used for each of the activities 
        described in subparagraphs (A) through (E) of paragraph (1) and 
        provide a detailed description of the activities to be 
        undertaken.
    (e) Grant Conditions.--
            (1) Fund manager.--As a condition of receiving a grant 
        under the program, a covered business incubator shall designate 
        an individual as the fund manager for the grant amount, who 
        shall administer and be responsible to the Secretary for 
        information with respect to the grant amounts received.
            (2) Investment committee.--As a condition of receiving a 
        grant under the program, a covered business incubator shall 
        establish an investment committee composed of not less than 5 
        individuals (3 of whom may not be employed by or related to the 
        incubator or an affiliate of the incubator) that shall--
                    (A) review proposals for and advise the incubator 
                on the use of grant funds;
                    (B) provide letters of support and reference to the 
                Secretary with respect to proposals for the use of 
                grant funds by the incubator; and
                    (C) submit periodic reports to the Secretary on the 
                results of activities carried out with grant funds.
            (3) Collaborator.--As a condition of receiving a grant 
        under the program, a covered business incubator shall assign to 
        each early-stage business in a targeted industry that is 
        assisted with grant amounts a collaborator who shall be an 
        individual not employed by or related to the incubator or an 
        affiliate of the incubator and who shall assist the incubator 
        in providing support to the business.
    (f) Federal Share of Activities.--The Federal share of the cost of 
an activity carried out by a covered business incubator with the 
assistance of a grant under the program shall not exceed 75 percent of 
such cost.
    (g) Monitoring and Evaluation.--
            (1) In general.--The Secretary shall assess the 
        effectiveness of covered business incubators that receive a 
        grant under the program.
            (2) Data from incubators.--Not later than 120 days after 
        the date of receiving a grant under the program, a covered 
        business incubator shall provide to the Secretary information 
        on the activities of the incubator and on the businesses 
        assisted under the grant, including--
                    (A) the number of jobs created by the businesses;
                    (B) the amount of taxes paid by the businesses and 
                the employees of the businesses; and
                    (C) other data that, as determined by the 
                Secretary, may be used to measure the value of 
                assistance under the program.
    (h) Authorization of Appropriations.--
            (1) In general.--There is authorized to be appropriated to 
        carry out the program--
                    (A) $250,000,000 for the first full fiscal year 
                beginning after the date of enactment of this Act; and
                    (B) such sums as may be necessary for subsequent 
                fiscal years.
            (2) Prohibition on earmarks.--None of the funds 
        appropriated for the program may be used for a congressional 
        earmark as defined in clause 9(e) of rule XXI of the Rules of 
        the House of Representatives.
    (i) Definitions.--In this Act, the following definitions apply:
            (1) Covered business incubator.--The term ``covered 
        business incubator'' means a public or private not-for-profit 
        organization, including an academic institution, that--
                    (A) operates a program providing assistance to 
                early-stage business in targeted industries to support 
                the development of those businesses;
                    (B) has a physical location and on-site management 
                for the program described under subparagraph (A); and
                    (C) has procedures for selecting businesses for and 
                graduating businesses from the program described under 
                subparagraph (A).
            (2) Due diligence activities.--The term ``due diligence 
        activities'' means activities undertaken to analyze and assess 
        the desirability, value, and potential of an opportunity to 
        provide assistance to an early-stage business in a targeted 
        industry.
            (3) Early-stage business in a targeted industry.--The term 
        ``early-stage business in a targeted industry'' means a small 
        business concern that--
                    (A) is domiciled in a State;
                    (B) has not generated gross annual revenues 
                exceeding $15,000,000 in any of the previous 3 years; 
                and
                    (C) is engaged primarily in researching, 
                developing, manufacturing, producing, or bringing to 
                market goods or services with respect to any of the 
                following business sectors:
                            (i) Agricultural technology.
                            (ii) Energy technology.
                            (iii) Environmental technology.
                            (iv) Life science technology.
                            (v) Biotechnology.
                            (vi) Information technology.
                            (vii) Digital media.
                            (viii) Clean technology.
                            (ix) Defense technology.
                            (x) Photonics technology.
                            (xi) Electronic technology.
                            (xii) Semiconductor technology.
                            (xiii) Material science technology.
                            (xiv) Aerospace.
                            (xv) Communications.
                            (xvi) Transportation.
            (4) Operational expenses.--The term ``operational 
        expenses'' means the costs of operating an incubator, including 
        overhead and management expenses.
            (5) Purchased services.--The term ``purchased services'' 
        means any training, counseling, or other assistance provided to 
        an early-stage business in a targeted industry that is provided 
        by a covered business incubator through an agreement with 
        another entity, and not by the incubator directly.
            (6) Secretary.--The terms ``Secretary'' and ``Secretary of 
        Commerce'' mean the Secretary of Commerce acting through the 
        Assistant Secretary of Commerce for Economic Development.
            (7) Small business concern.--The term ``small business 
        concern'' has the meaning given that term in section 3 of the 
        Small Business Act (15 U.S.C. 632).
Example Output:
Early-Stage Business Investment and Incubation Act of 2010 - Directs the Secretary of Commerce to establish an early-stage business investment and incubation grant program (program) to support the development of early-stage businesses engaged primarily in the research, development, manufacturing, production, or marketing of specified technologies, aerospace, communications, or transportation. Limits individual grants to $5 million. Requires each grant recipient under the program to: (1) designate an individual as the grant fund manager; (2) establish a grant investment committee; and (3) assign to each assisted business a grant collaborator. Directs the Secretary to monitor and evaluate program effectiveness.