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108th CONGRESS
2d Session
H. R. 4656
To provide for the establishment of the Nanomanufacturing Investment
Partnership, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
June 23, 2004
Mr. Honda introduced the following bill; which was referred to the
Committee on Science
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A BILL
To provide for the establishment of the Nanomanufacturing Investment
Partnership, and for other purposes.
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 ``Nanomanufacturing Investment Act of
2004''.
SEC. 2. NANOMANUFACTURING INVESTMENT PARTNERSHIP.
(a) Establishment.--If $250,000,000 is made available for such
purposes from the private sector within 2 years after the date of
enactment of this Act, the Secretary of Commerce shall establish the
Nanomanufacturing Investment Partnership, in partnership with such
private sector investors.
(b) Purpose.--The Nanomanufacturing Investment Partnership shall
provide funding for precommercial nanomanufacturing research and
development projects, but not for basic research projects, through
funding mechanisms described in subsection (c) in a manner so as to
advance the commercialization of nanomanufacturing technologies to
address critical scientific and engineering needs of national
importance, especially with respect to projects that would not be
adequately funded or pursued by the private sector or pursuant to the
21st Century Nanotechnology Research and Development Act or other law,
and to increase the commercial application of federally supported
research results. To the extent that a sufficient number of viable
applications have been submitted, at least 85 percent of the funding
provided by the Nanomanufacturing Investment Partnership under this
section shall be provided to startup companies.
(c) Funding Mechanisms.--The Nanomanufacturing Investment
Partnership may provide funding through direct investment in
nanomanufacturing firms, contracts, loans or loan guarantees, unsecured
subordinated debt, or any other mechanism designed to advance
nanomanufacturing technologies.
(d) Return on Investment.--
(1) Requirement.--Each transaction through which the
Nanomanufacturing Investment Partnership provides funding under
subsection (c) shall provide for the return to the
Nanomanufacturing Investment Partnership of fair and reasonable
amounts resulting from the commercialization of technologies
developed with the funding provided by the Nanomanufacturing
Investment Partnership.
(2) Distribution.--Amounts received by the
Nanomanufacturing Investment Partnership pursuant to paragraph
(1) shall be distributed as follows:
(A) Except as provided in subparagraph (B), amounts
shall be distributed to all investors in the
Nanomanufacturing Investment Partnership, including the
Federal Government, in proportion to their monetary
contribution to the Nanomanufacturing Investment
Partnership.
(B) After the total monetary investment of the
Federal Government has been recovered under
subparagraph (A), the Federal share of distributions
under this paragraph shall be reduced to 7 percent of
the proportional distribution under subparagraph (A),
and the remaining amounts shall be distributed
proportionately to all non-Federal investors.
(e) Cost Sharing.--Each applicant for funding assistance from the
Nanomanufacturing Investment Partnership for a project shall be
required to provide a portion of the cost of the project.
(f) Peer Review.--Each application for funding assistance for a
project from the Nanomanufacturing Investment Partnership shall be peer
reviewed.
(g) Administration.--The Secretary of Commerce, based on guidance
from the Advisory Board established under section 3 and on the results
of peer review under subsection (f), shall make awards of funding under
this Act.
(h) Progress Reports.--The Nanomanufacturing Investment Partnership
shall require periodic project progress reports from recipients of
funding under this Act.
SEC. 3. ADVISORY BOARD.
(a) Establishment.--The Secretary of Commerce shall establish an
Advisory Board to assist the Secretary in carrying out this Act,
including by establishing requirements for progress reports under
section 2(h). The Advisory Board shall consist of--
(1) representatives of each investor providing more than
$10,000,000 to the Nanomanufacturing Investment Partnership,
whose votes shall--
(A) be distributed proportional to the size of
their investment in the Nanomanufacturing Investment
Partnership; and
(B) collectively amount to 40 percent of the votes
on the Advisory Board; and
(2) independent experts on nanomanufacturing and finance
appointed by the President from among representatives of
government, industry, and academia, whose votes shall
collectively amount to 60 percent of the votes on the Advisory
Board.
(b) Terms.--Members of the Advisory Board appointed under
subsection (a)(2) shall be appointed for 3 year terms, except that the
President shall make some initial appointments for terms of 1 year and
some for terms of 2 years, in order to ensure continuity of membership
on the Advisory Board.
SEC. 4. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated to the Secretary of
Commerce for the Nanomanufacturing Investment Partnership $750,000,000,
to remain available until expended.
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