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

SECTION 1. SHORT TITLE.

This Act may be cited as the ''Genomic Science and Technology
Innovation Act of 2002''.

SEC. 2. FINDINGS.

The Congress finds the following:
(1) Genomic science promises a revolution in the
development of new and effective genomic technologies and other
innovations, and it is in the national interest to speed the
development and deployment of these new technologies through
policies that promote innovation in the field of genomic
science and technology.
(2) While Federal innovation policies can help stimulate
innovation by attracting capital investment to the development
of commercial products, such policies can also inhibit basic
research and hinder sharing of information that is the basis of
scientific progress, thereby slowing the innovation process.
(3) Intellectual property policies for genomic science and
technology products are being implemented without an adequate
understanding and consideration of the net impact of such
policies on the innovation process.
(4) Decisions about intellectual property policy being made
now are likely to have significant impacts on basic research
and the development of genomic technology for decades to come.
(5) The Office of Science and Technology Policy is uniquely
positioned to lead the development of a coordinated,
interagency policy to promote innovation in genomic science and
technology. A definitive study coordinated by the Office of
Science and Technology Policy that identifies the impacts of
Federal innovation policy on the innovation pipeline for
genomic technology and includes recommendations for policies,
including any statutory changes needed to optimize the genomic
technology innovation pipeline, would contribute significantly
to the development of the policy.

SEC. 3. STUDY.

(a) Requirement.--The Director of the Office of Science and
Technology Policy shall conduct, or may contract with the National
Academy of Sciences to conduct, a study that assesses the impact of
Federal policies, including intellectual property policies, on the
innovation process for genomic technologies.
(b) Consultation.--In conducting the study, the Director of the
Office of Science and Technology Policy shall consult with the National
Science and Technology Council, the National Science Foundation, the
Secretary of Energy, the Secretary of Commerce, the Secretary of Health
and Human Services, and other agencies or divisions of agencies the
Director considers appropriate.
(c) Advisory Committee.--In conducting the study, the Director of
the Office of Science and Technology Policy shall consult with an
advisory committee, organized as a subcommittee of the President's
Committee of Advisors on Science and Technology, that shall include
balanced membership from research universities and other nonprofit
research institutions, industry, economists, legal experts,
bioethicists, clinicians and clinical scientists, genetic
practitioners, and advocacy groups.
(d) Contents.--The study shall--
(1) identify and quantify, to extent possible, the actual
and reasonably expected effects of innovation policy on genomic
science and technology innovation;
(2) explicitly consider various alternative levels of
intellectual property protection genomic materials may receive
and the likely impact of the various levels of protection on
each element of the innovation pipeline, including--
(A) fundamental genomic research carried out at
universities and other nonprofit research institutions;
(B) commercial genomic research at universities,
nonprofit research institutions, and for-profit
institutions, including the expected effects on
intracompany investment and external private capital;
(C) development of commercial genomic technologies,
including the expected effects on investment capital;
and
(D) access to genomic technologies and processes;
and
(3) include an assessment of the net impact of Federal
innovation policies on innovation for genomic technologies,
including an assessment of--
(A) researchers' access to genomic materials;
(B) the rate of innovation;
(C) the quality of innovation;
(D) the cost of new genomic technologies brought to
market;
(E) the impact of restricted access to genomic
diagnostics on evaluation, improvement, and clinical
utilization;
(F) the cost and availability of innovative
technology;
(G) whether Federal innovation policies create
barriers to research through denial of use of a
research tool, increased costs of licensing, legal and
litigation costs, transaction costs, or the perception
of increased legal liability, or hinder the access of
researchers to genomic materials and to databases of
genomic sequence information;
(H) whether Federal innovation policies affect the
choice of area of research conducted by researchers or
institutions or provide positive benefits to such
research, including additional funding from private
sector partners; and
(I) the range of incentives providing motivation
for genetics research and technology development other
than intellectual property protection.

SEC. 4. REPORT.

The Director of the Office of Science and Technology Policy shall,
within 270 days after the date of the enactment of this Act, transmit a
report to Congress that--
(1) contains the findings of the study conducted under
section 3; and
(2) makes recommendations for policies, including
legislative changes, needed to optimize the genomic technology
innovation pipeline.

SEC. 5. COORDINATED POLICY.

After the report is transmitted to Congress under section 4, the
Director of the Office of Science and Technology Policy shall
incorporate the policy recommendations into a coordinated interagency
policy to promote innovation in genomic science and technology,
including the sound use of intellectual property policy.

SEC. 6. DEFINITIONS.

For the purposes of this Act--
(1) the term ''genomic materials'' means any material
containing a human or human pathogen polynucleotide sequence
other than genetic probes and markers and transgenic organisms;
(2) the term ''genomic technology'' means any genetic
diagnostic methods or kits, tools, probes, or markers, and any
pharmaceutical or therapy that uses or incorporates genomic
materials; and
(3) the term ''innovation policy'' includes intellectual
property protection and policies.
Genomic Science and Technology Innovation Act of 2002 - Requires the Director of the Office of Science and Technology Policy to conduct, or contract with the National Academy of Sciences to conduct, a study that assesses the impact of Federal policies, including intellectual property policies, on the innovation process for genomic technologies.Requires such study to: (1) identify and quantify the effects of innovation policy on genomic science and technology innovation; (2) consider alternative levels of intellectual property protection genomic materials may receive and the likely impact on each element of the innovation pipeline; and (3) assess the net impact of Federal innovative policies.