S 1960 ISCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

1st SessionCommentsClose CommentsPermalink

S. 1960CommentsClose CommentsPermalink

To provide incentives to create American jobs.CommentsClose CommentsPermalink

IN THE SENATE OF THE UNITED STATESCommentsClose CommentsPermalink

December 7, 2011CommentsClose CommentsPermalink

Ms. COLLINS (for herself and Mrs. MCCASKILL) introduced the following bill; which was read twice and referred to the Committee on FinanceCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To provide incentives to create American jobs.CommentsClose CommentsPermalink

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title- This Act may be cited as the ‘Jobs Creation Act’.CommentsClose CommentsPermalink





(b) Table of Contents- The table of contents of this Act is as follows:CommentsClose CommentsPermalink





Sec. 1. Short title; table of contents.CommentsClose CommentsPermalink

TITLE I--TAX INCENTIVES

Subtitle A--Payroll Tax Holiday

Sec. 101. Extension of payroll tax holiday.CommentsClose CommentsPermalink





Sec. 102. Temporary employer payroll tax cut.CommentsClose CommentsPermalink

Subtitle B--American Opportunity

Sec. 111. Short title.CommentsClose CommentsPermalink





Sec. 112. Angel investment tax credit.CommentsClose CommentsPermalink

Subtitle C--Extension of Expiring Provisions

Sec. 121. Extension of bonus depreciation.CommentsClose CommentsPermalink





Sec. 122. Deduction for qualified tuition and related expenses.CommentsClose CommentsPermalink





Sec. 123. Research credit.CommentsClose CommentsPermalink





Sec. 124. 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.CommentsClose CommentsPermalink





Sec. 125. Enhanced charitable deduction for contributions of food inventory.CommentsClose CommentsPermalink





Sec. 126. Enhanced charitable deduction for contributions of book inventories to public schools.CommentsClose CommentsPermalink





Sec. 127. Enhanced charitable deduction for corporate contributions of computer inventory for educational purposes.CommentsClose CommentsPermalink

TITLE II--INFRASTRUCTURE PROVISIONS

Sec. 201. Capitalization of State infrastructure banks.CommentsClose CommentsPermalink





Sec. 202. Highway infrastructure investment.CommentsClose CommentsPermalink





Sec. 203. State revolving loan funds.CommentsClose CommentsPermalink

TITLE III--REGULATORY REFORM

Subtitle A--Clearing Unnecessary Regulatory Burdens

Sec. 301. Short title.CommentsClose CommentsPermalink





Sec. 302. Regulatory reform.CommentsClose CommentsPermalink





Sec. 303. Reduction or waiver of civil penalties imposed on small entities.CommentsClose CommentsPermalink

Subtitle B--EPA Regulatory Relief

Sec. 311. Short title.CommentsClose CommentsPermalink





Sec. 312. Legislative stay.CommentsClose CommentsPermalink





Sec. 313. Compliance dates.CommentsClose CommentsPermalink





Sec. 314. Energy recovery and conservation.CommentsClose CommentsPermalink





Sec. 315. Other provisions.CommentsClose CommentsPermalink

TITLE IV--WORKFORCE DEVELOPMENT

Subtitle A--Job Training Program Consolidation

Sec. 401. Short title.CommentsClose CommentsPermalink





Sec. 402. Definitions.CommentsClose CommentsPermalink





Sec. 403. Study and proposal on duplicative job training programs.CommentsClose CommentsPermalink

Subtitle B--Innovation and Job Creation

Sec. 411. Short title.CommentsClose CommentsPermalink





Sec. 412. Definitions.CommentsClose CommentsPermalink





Sec. 413. National Innovation Council.CommentsClose CommentsPermalink





Sec. 414. National Innovation Council Board.CommentsClose CommentsPermalink





Sec. 415. Transfer of programs and functions.CommentsClose CommentsPermalink





Sec. 416. Cluster Information Center.CommentsClose CommentsPermalink





Sec. 417. Grant programs.CommentsClose CommentsPermalink





Sec. 418. Authorization of appropriations.CommentsClose CommentsPermalink

TITLE V--OFFSETS

Subtitle A--Surtax on High-income Taxpayers

Sec. 501. Surtax on millionaires.CommentsClose CommentsPermalink

Subtitle B--Closing Big Oil Tax Loopholes

Sec. 511. Short title.CommentsClose CommentsPermalink

PART I--Close Big Oil Tax Loopholes

Sec. 521. Modifications of foreign tax credit rules applicable to major integrated oil companies which are dual capacity taxpayers.CommentsClose CommentsPermalink





Sec. 522. Limitation on section 199 deduction attributable to oil, natural gas, or primary products thereof.CommentsClose CommentsPermalink





Sec. 523. Limitation on deduction for intangible drilling and development costs.CommentsClose CommentsPermalink





Sec. 524. Limitation on percentage depletion allowance for oil and gas wells.CommentsClose CommentsPermalink





Sec. 525. Limitation on deduction for tertiary injectants.CommentsClose CommentsPermalink

PART II--Outer Continental Shelf Oil and Natural Gas

Sec. 531. Repeal of outer Continental Shelf deep water and deep gas royalty relief.CommentsClose CommentsPermalink

TITLE I--TAX INCENTIVESCommentsClose CommentsPermalink

Subtitle A--Payroll Tax HolidayCommentsClose CommentsPermalink

SEC. 101. EXTENSION OF PAYROLL TAX HOLIDAY.

Section 601(c) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (26 U.S.C. 1401 note) is amended by striking ‘year 2011’ and inserting ‘years 2011 and 2012’.CommentsClose CommentsPermalink

SEC. 102. TEMPORARY EMPLOYER PAYROLL TAX CUT.

(a) In General-CommentsClose CommentsPermalink





(1) EMPLOYERS- Section 601(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (26 U.S.C. 1401 note) is amended by striking ‘and’ at the end of paragraph (1), by striking the period at the end of paragraph (2), and by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(3) with respect to remuneration paid during the payroll tax holiday period for qualified services, the rate of tax under 3111(a) of such Code shall be 4.2 percent (including for purposes of determining the applicable percentage under sections 3221(a) of such Code).’.CommentsClose CommentsPermalink





(2) SELF-EMPLOYED INDIVIDUALS- Section 601(a) of such Act is amended by striking ‘10.40 percent’ in paragraph (1) and inserting ‘8.40 percent’.CommentsClose CommentsPermalink





(b) Qualified Services- Section 601 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (26 U.S.C. 1401 note) is amended by adding at the end the following new subsection:CommentsClose CommentsPermalink





‘(f) Qualified Services- For purposes of this section, the term ‘qualified services’ means services performed--CommentsClose CommentsPermalink





‘(1) in a trade or business of a qualified employer, orCommentsClose CommentsPermalink





‘(2) in the case of a qualified employer exempt from tax under section 501(a) of the Internal Revenue Code of 1986, in furtherance of the activities related to the purpose or function constituting the basis of the employer’s exemption under section 501 of such Code.’.CommentsClose CommentsPermalink





(c) Conforming Amendments-CommentsClose CommentsPermalink





(1) Section 601 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is amended by striking subsection (b).CommentsClose CommentsPermalink





(2) Section 601(e)(2) of such Act is amended by striking ‘subsection (a)(2)’ and inserting ‘paragraphs (2) and (3) of subsection (a)’.CommentsClose CommentsPermalink





(3) The headings for title VI and section 601 of such Act are each amended by striking ‘employee’.CommentsClose CommentsPermalink





(d) Effective Date- The amendments made by this section shall apply to wages paid and self-employment income earned after December 31, 2011.CommentsClose CommentsPermalink

Subtitle B--American OpportunityCommentsClose CommentsPermalink

SEC. 111. SHORT TITLE.

This subtitle may be cited as the ‘American Opportunity Act of 2011’.CommentsClose CommentsPermalink

SEC. 112. ANGEL INVESTMENT TAX CREDIT.

(a) In General- Subpart B of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:CommentsClose CommentsPermalink

‘SEC. 30E. ANGEL INVESTMENT TAX CREDIT.

‘(a) Allowance of Credit- There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 25 percent of the qualified equity investments made by a qualified investor during the taxable year.CommentsClose CommentsPermalink





‘(b) Qualified Equity Investment- For purposes of this section--CommentsClose CommentsPermalink





‘(1) IN GENERAL- The term ‘qualified equity investment’ means any equity investment in a qualified small business entity if--CommentsClose CommentsPermalink





‘(A) such investment is acquired by the taxpayer at its original issue (directly or through an underwriter) solely in exchange for cash, andCommentsClose CommentsPermalink





‘(B) such investment is designated for purposes of this section by the qualified small business entity.CommentsClose CommentsPermalink





‘(2) EQUITY INVESTMENT- The term ‘equity investment’ means--CommentsClose CommentsPermalink





‘(A) any form of equity, including a general or limited partnership interest, common stock, preferred stock (other than nonqualified preferred stock as defined in section 351(g)(2)), with or without voting rights, without regard to seniority position and whether or not convertible into common stock or any form of subordinate or convertible debt, or both, with warrants or other means of equity conversion, andCommentsClose CommentsPermalink





‘(B) any capital interest in an entity which is a partnership.CommentsClose CommentsPermalink





‘(3) REDEMPTIONS- A rule similar to the rule of section 1202(c)(3) shall apply for purposes of this subsection.CommentsClose CommentsPermalink





‘(c) Qualified Small Business Entity- For purposes of this section--CommentsClose CommentsPermalink





‘(1) IN GENERAL- The term ‘qualified small business entity’ means any domestic corporation or partnership if such corporation or partnership--CommentsClose CommentsPermalink





‘(A) is a small business (as defined in section 41(b)(3)(D)(iii)),CommentsClose CommentsPermalink





‘(B) has its headquarters in the United States,CommentsClose CommentsPermalink





‘(C) is engaged in a high technology trade or business related to--CommentsClose CommentsPermalink





‘(i) advanced materials, nanotechnology, or precision manufacturing,CommentsClose CommentsPermalink





‘(ii) aerospace, aeronautics, or defense,CommentsClose CommentsPermalink





‘(iii) biotechnology or pharmaceuticals,CommentsClose CommentsPermalink





‘(iv) electronics, semiconductors, software, or computer technology,CommentsClose CommentsPermalink





‘(v) energy, environment, or clean technologies,CommentsClose CommentsPermalink





‘(vi) forest products or agriculture,CommentsClose CommentsPermalink





‘(vii) information technology, communication technology, digital media, or photonics,CommentsClose CommentsPermalink





‘(viii) life sciences or medical sciences,CommentsClose CommentsPermalink





‘(ix) marine technology or aquaculture,CommentsClose CommentsPermalink





‘(x) transportation, orCommentsClose CommentsPermalink





‘(xi) any other high technology trade or business as determined by the Secretary,CommentsClose CommentsPermalink





‘(D) has been in existence for less than 5 years as of the date of the qualified equity investment,CommentsClose CommentsPermalink





‘(E) employs less than 100 full-time equivalent employees as of the date of such investment,CommentsClose CommentsPermalink





‘(F) has more than 50 percent of the employees performing substantially all of their services in the United States as of the date of such investment, andCommentsClose CommentsPermalink





‘(G) has equity investments designated for purposes of this paragraph.CommentsClose CommentsPermalink





‘(2) DESIGNATION OF EQUITY INVESTMENTS- For purposes of paragraph (1)(G), an equity investment shall not be treated as designated if such designation would result in the aggregate amount which may be taken into account under this section with respect to equity investments in such corporation or partnership exceeds--CommentsClose CommentsPermalink





‘(A) $10,000,000, taking into account the total amount of all qualified equity investments made by all taxpayers for the taxable year and all preceding taxable years,CommentsClose CommentsPermalink





‘(B) $2,000,000, taking into account the total amount of all qualified equity investments made by all taxpayers for such taxable year, andCommentsClose CommentsPermalink





‘(C) $1,000,000, taking into account the total amount of all qualified equity investments made by the taxpayer for such taxable year.CommentsClose CommentsPermalink





‘(d) Qualified Investor- For purposes of this section--CommentsClose CommentsPermalink





‘(1) IN GENERAL- The term ‘qualified investor’ means an accredited investor, as defined by the Securities and Exchange Commission, investor network, or investor fund who review new or proposed businesses for potential investment.CommentsClose CommentsPermalink





‘(2) INVESTOR NETWORK- The term ‘investor network’ means a group of accredited investors organized for the sole purpose of making qualified equity investments.CommentsClose CommentsPermalink





‘(3) INVESTOR FUND-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘investor fund’ means a corporation that for the applicable taxable year is treated as an S corporation or a general partnership, limited partnership, limited liability partnership, trust, or limited liability company and which for the applicable taxable year is not taxed as a corporation.CommentsClose CommentsPermalink





‘(B) ALLOCATION OF CREDIT-CommentsClose CommentsPermalink





‘(i) IN GENERAL- Except as provided in clause (ii), the credit allowed under subsection (a) shall be allocated to the shareholders or partners of the investor fund in proportion to their ownership interest or as specified in the fund’s organizational documents, except that tax-exempt investors shall be allowed to transfer their interest to investors within the fund in exchange for future financial consideration.CommentsClose CommentsPermalink





‘(ii) SINGLE MEMBER LIMITED LIABILITY COMPANY- If the investor fund is a single member limited liability company that is disregarded as an entity separate from its owner, the credit allowed under subsection (a) may be claimed by such limited liability company’s owner, if such owner is a person subject to the tax under this title.CommentsClose CommentsPermalink





‘(4) EXCLUSION- The term ‘qualified investor’ does not include--CommentsClose CommentsPermalink





‘(A) a person controlling at least 50 percent of the qualified small business entity,CommentsClose CommentsPermalink





‘(B) an employee of such entity, orCommentsClose CommentsPermalink





‘(C) any bank, bank and trust company, insurance company, trust company, national bank, savings association or building and loan association for activities that are a part of its normal course of business.CommentsClose CommentsPermalink





‘(e) National Limitation on Amount of Investments Designated-CommentsClose CommentsPermalink





‘(1) IN GENERAL- There is an angel investment tax credit limitation of $500,000,000 for each of calendar years 2011 through 2015.CommentsClose CommentsPermalink





‘(2) ALLOCATION OF LIMITATION- The limitation under paragraph (1) shall be allocated by the Secretary among qualified small business entities selected by the Secretary.CommentsClose CommentsPermalink





‘(3) CARRYOVER OF UNUSED LIMITATION- If the angel investment tax credit limitation for any calendar year exceeds the aggregate amount allocated under paragraph (2) for such year, such limitation for the succeeding calendar year shall be increased by the amount of such excess. No amount may be carried under the preceding sentence to any calendar year after 2020.CommentsClose CommentsPermalink





‘(f) Application With Other Credits-CommentsClose CommentsPermalink





‘(1) BUSINESS CREDIT TREATED AS PART OF GENERAL BUSINESS CREDIT- Except as provided in paragraph (2), the credit which would be allowed under subsection (a) for any taxable year (determined without regard to this subsection) shall be treated as a credit listed in section 38(b) for such taxable year (and not allowed under subsection (a)).CommentsClose CommentsPermalink





‘(2) PERSONAL CREDIT-CommentsClose CommentsPermalink





‘(A) IN GENERAL- In the case of an individual who elects the application of this paragraph, for purposes of this title, the credit allowed under subsection (a) for any taxable year (determined after application of paragraph (1)) shall be treated as a credit allowable under subpart A for such taxable year.CommentsClose CommentsPermalink





‘(B) LIMITATION BASED ON AMOUNT OF TAX- In the case of a taxable year to which section 26(a)(2) does not apply, the credit allowed under subpart A for any taxable year (determined after application of paragraph (1)) by reason of subparagraph (A) shall not exceed the excess of--CommentsClose CommentsPermalink





‘(i) the sum of the regular tax liability (as defined in section 26(b)) plus the tax imposed by section 55, overCommentsClose CommentsPermalink





‘(ii) the sum of the credits allowable under subpart A (other than this section) and section 27 for the taxable year.CommentsClose CommentsPermalink





‘(C) CARRYFORWARD OF UNUSED CREDIT- If the credit allowable under subsection (a) by reason of subparagraph (A) exceeds the limitation imposed by section 26(a)(1) or subparagraph (B), whichever is applicable, for such taxable year, reduced by the sum of the credits allowable under subpart A (other than this section) for such taxable year, such excess shall be carried to each of the succeeding 20 taxable years to the extent that such unused credit may not be taken into account under subsection (a) by reason of subparagraph (A) for a prior taxable year because of such limitation.CommentsClose CommentsPermalink





‘(g) Special Rules-CommentsClose CommentsPermalink





‘(1) RELATED PARTIES- For purposes of this section--CommentsClose CommentsPermalink





‘(A) IN GENERAL- All related persons shall be treated as 1 person.CommentsClose CommentsPermalink





‘(B) RELATED PERSONS- A person shall be treated as related to another person if the relationship between such persons would result in the disallowance of losses under section 267 or 707(b).CommentsClose CommentsPermalink





‘(2) BASIS- For purposes of this subtitle, the basis of any investment with respect to which a credit is allowable under this section shall be reduced by the amount of such credit so allowed. This subsection shall not apply for purposes of sections 1202, 1397B, and 1400B.CommentsClose CommentsPermalink





‘(3) RECAPTURE- The Secretary shall, by regulations, provide for recapturing the benefit of any credit allowable under subsection (a) with respect to any qualified equity investment which is held by the taxpayer less than 3 years, except that no benefit shall be recaptured in the case of--CommentsClose CommentsPermalink





‘(A) transfer of such investment by reason of the death of the taxpayer,CommentsClose CommentsPermalink





‘(B) transfer between spouses,CommentsClose CommentsPermalink





‘(C) transfer incident to the divorce (as defined in section 1041) of such taxpayer, orCommentsClose CommentsPermalink





‘(D) a transaction to which section 381(a) applies (relating to certain acquisitions of the assets of one corporation by another corporation).CommentsClose CommentsPermalink





‘(h) Regulations- The Secretary shall prescribe such regulations as may be appropriate to carry out this section, including regulations--CommentsClose CommentsPermalink





‘(1) which prevent the abuse of the purposes of this section,CommentsClose CommentsPermalink





‘(2) which impose appropriate reporting requirements, andCommentsClose CommentsPermalink





‘(3) which apply the provisions of this section to newly formed entities.’.CommentsClose CommentsPermalink





(b) Credit Made Part of General Business Credit- Subsection (b) of section 38 of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(1) in paragraph (35), by striking ‘plus’;CommentsClose CommentsPermalink





(2) in paragraph (36), by striking the period at the end and inserting ‘, plus’; andCommentsClose CommentsPermalink





(3) by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(37) the portion of the angel investment tax credit to which section 30E(f)(1) applies.’.CommentsClose CommentsPermalink





(c) Conforming Amendments-CommentsClose CommentsPermalink





(1) Section 1016(a) of the Internal Revenue Code of 1986 is amended by striking ‘and’ at the end of paragraph (36), by striking the period at the end of paragraph (37) and inserting ‘, and’, and by inserting after paragraph (37) the following new paragraph:CommentsClose CommentsPermalink





‘(38) to the extent provided in section 30E(g)(2).’.CommentsClose CommentsPermalink





(2) Section 24(b)(3)(B) of such Code is amended by striking ‘and 30D’ and inserting ‘30D, and 30E’.CommentsClose CommentsPermalink





(3) Section 25(e)(1)(C)(ii) of such Code is amended by inserting ‘30E,’ after ‘30D,’.CommentsClose CommentsPermalink





(4) Section 25A(i)(5)(B) of such Code is amended by striking ‘and 30D’ and inserting ‘, 30D, and 30E’.CommentsClose CommentsPermalink





(5) Section 25A(i)(5) of such Code is amended by inserting ‘30E,’ after ‘30D,’.CommentsClose CommentsPermalink





(6) Section 25B(g)(2) of such Code is amended by striking ‘and 30D’ and inserting ‘30D, and 30E’.CommentsClose CommentsPermalink





(7) Section 26(a)(1) of such Code is amended by striking ‘and 30D’ and inserting ‘30D, and 30E’.CommentsClose CommentsPermalink





(8) Section 30(c)(2)(B)(ii) of such Code is amended by striking ‘and 30D’ and inserting ‘, 30D, and 30E’.CommentsClose CommentsPermalink





(9) Section 30B(g)(2)(B)(ii) of such Code is amended by striking ‘and 30D’ and inserting ‘30D, and 30E’.CommentsClose CommentsPermalink





(10) Section 30D(d)(2)(B)(ii) of such Code is amended by striking ‘and 25D’ and inserting ‘, 25D, and 30E’.CommentsClose CommentsPermalink





(11) Section 904(i) of such Code is amended by striking ‘and 30D’ and inserting ‘30D, and 30E’.CommentsClose CommentsPermalink





(12) Section 1400C(d)(2) of such Code is amended by striking ‘and 30D’ and inserting ‘30D, and 30E’.CommentsClose CommentsPermalink





(d) Clerical Amendment- The table of sections for subpart B of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:CommentsClose CommentsPermalink





‘Sec. 30E. Angel investment tax credit.’.CommentsClose CommentsPermalink





(e) Effective Date- The amendments made by this section shall apply to investments made after December 31, 2010, in taxable years ending after such date.CommentsClose CommentsPermalink





(f) Regulations on Allocation of National Limitation- Not later than 120 days after the date of the enactment of this Act, the Secretary of the Treasury or the Secretary’s delegate shall prescribe regulations which specify--CommentsClose CommentsPermalink





(1) how small business entities shall apply for an allocation under section 30E(e)(2) of the Internal Revenue Code of 1986, as added by this section,CommentsClose CommentsPermalink





(2) the competitive procedure through which such allocations are made,CommentsClose CommentsPermalink





(3) the criteria for determining an allocation to a small business entity, including--CommentsClose CommentsPermalink





(A) whether the small business entity is located in a State that is historically underserved by angel investors and venture capital investors,CommentsClose CommentsPermalink





(B) whether the small business entity has received an angel investment tax credit, or its equivalent, from the State in which the small business entity is located and registered,CommentsClose CommentsPermalink





(C) whether small business entities in low-, medium-, and high-population density States are receiving allocations, andCommentsClose CommentsPermalink





(D) whether the small business entity has been awarded a Small Business Innovative Research or Small Business Technology Transfer grant from a Federal agency,CommentsClose CommentsPermalink





(4) the actions that such Secretary or delegate shall take to ensure that such allocations are properly made to qualified small business entities, andCommentsClose CommentsPermalink





(5) the actions that such Secretary or delegate shall take to ensure that angel investment tax credits are allocated and issued to the taxpayer.CommentsClose CommentsPermalink





(g) Audit and Report- Not later than January 31, 2014, the Comptroller General of the United States, pursuant to an audit of the angel investment tax credit program established under section 30E of the Internal Revenue Code of 1986 (as added by subsection (a)), shall report to Congress on such program, including all qualified small business entities that receive an allocation of an angel investment credit under such section.CommentsClose CommentsPermalink

Subtitle C--Extension of Expiring ProvisionsCommentsClose CommentsPermalink

SEC. 121. EXTENSION OF BONUS DEPRECIATION.

(a) In General- Paragraph (2) of section 168(k) is amended--CommentsClose CommentsPermalink





(1) by striking ‘January 1, 2014’ in subparagraph (A)(iv) and inserting ‘January 1, 2015’, andCommentsClose CommentsPermalink





(2) by striking ‘January 1, 2013’ each place it appears and inserting ‘January 1, 2014’.CommentsClose CommentsPermalink





(b) 100 Percent Expensing- Paragraph (5) of section 168(k) is amended--CommentsClose CommentsPermalink





(1) by striking ‘January 1, 2013’ and inserting ‘January 1, 2014’, andCommentsClose CommentsPermalink





(2) by striking ‘January 1, 2012’ each place it appears and inserting ‘January 1, 2013’.CommentsClose CommentsPermalink





(c) Extension of Election to Accelerate the AMT Credit in Lieu of Bonus Depreciation-CommentsClose CommentsPermalink





(1) IN GENERAL- Subclause (II) of section 168(k)(4)(D)(iii) is amended by striking ‘2013’ and inserting ‘2014’.CommentsClose CommentsPermalink





(2) ROUND 3 EXTENSION PROPERTY- Paragraph (4) of section 168(k) is amended by adding at the end the following new subparagraph:CommentsClose CommentsPermalink





‘(J) SPECIAL RULES FOR ROUND 3 EXTENSION PROPERTY-CommentsClose CommentsPermalink





‘(i) IN GENERAL- In the case of round 3 extension property, this paragraph shall be applied without regard to--CommentsClose CommentsPermalink





‘(I) the limitation described in subparagraph (B)(i) thereof, andCommentsClose CommentsPermalink





‘(II) the business credit increase amount under subparagraph (E)(iii) thereof.CommentsClose CommentsPermalink





‘(ii) TAXPAYERS PREVIOUSLY ELECTING ACCELERATION- In the case of a taxpayer who made the election under subparagraph (A) for its first taxable year ending after March 31, 2008, a taxpayer who made the election under subparagraph (H)(ii) for its first taxable year ending after December 31, 2008, or a taxpayer who made the election under subparagraph (I)(iii) for its first taxable year ending after December 31, 2010--CommentsClose CommentsPermalink





‘(I) the taxpayer may elect not to have this paragraph apply to round 3 extension property, butCommentsClose CommentsPermalink





‘(II) if the taxpayer does not make the election under subclause (I), in applying this paragraph to the taxpayer the bonus depreciation amount, maximum amount, and maximum increase amount shall be computed and applied to eligible qualified property which is round 3 extension property.CommentsClose CommentsPermalink





The amounts described in subclause (II) shall be computed separately from any amounts computed with respect to eligible qualified property which is not round 2 extension property.CommentsClose CommentsPermalink





‘(iii) TAXPAYERS NOT PREVIOUSLY ELECTING ACCELERATION- In the case of a taxpayer who neither made the election under subparagraph (A) for its first taxable year ending after March 31, 2008, nor made the election under subparagraph (H)(ii) for its first taxable year ending after December 31, 2008, nor made the election under subparagraph (I)(iii) for its first taxable year ending after December 31, 2010--CommentsClose CommentsPermalink





‘(I) the taxpayer may elect to have this paragraph apply to its first taxable year ending after December 31, 2011, and each subsequent taxable year, andCommentsClose CommentsPermalink





‘(II) if the taxpayer makes the election under subclause (I), this paragraph shall only apply to eligible qualified property which is round 3 extension property.CommentsClose CommentsPermalink





‘(iv) ROUND 3 EXTENSION PROPERTY- For purposes of this subparagraph, the term ‘round 3 extension property’ means property which is eligible qualified property solely by reason of the extension of the application of the special allowance under paragraph (1) pursuant to the amendments made by section 7(a) of the Small Business Jobs Tax Extenders Act of 2011 (and the application of such extension to this paragraph pursuant to the amendment made by section 7(c)(1) of such Act).’.CommentsClose CommentsPermalink





(d) Conforming Amendments-CommentsClose CommentsPermalink





(1) The heading for subsection (k) of section 168 is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2014’.CommentsClose CommentsPermalink





(2) The heading for clause (ii) of section 168(k)(2)(B) is amended by striking ‘PRE-JANUARY 1, 2013’ and inserting ‘PRE-JANUARY 1, 2014’.CommentsClose CommentsPermalink





(3) Paragraph (5) of section 168(l) is amended--CommentsClose CommentsPermalink





(A) by striking ‘and’ at the end of subparagraph (A),CommentsClose CommentsPermalink





(B) by redesignating subparagraph (C) as subparagraph (B), andCommentsClose CommentsPermalink





(C) by inserting after subparagraph (A) the following new subparagraph:CommentsClose CommentsPermalink





‘(B) by substituting ‘January 1, 2013’ for ‘January 1, 2014’ in clause (i) thereof, and’.CommentsClose CommentsPermalink





(4) Subparagraph (C) of section 168(n)(2) is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2014’.CommentsClose CommentsPermalink





(5) Subparagraph (D) of section 1400L(b)(2) is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2014’.CommentsClose CommentsPermalink





(6) Subparagraph (B) of section 1400N(d)(3) is amended by striking ‘January 1, 2013’ and inserting ‘January 1, 2014’.CommentsClose CommentsPermalink





(e) Effective Dates- The amendments made by this section shall apply to property placed in service after December 31, 2011, in taxable years ending after such date.CommentsClose CommentsPermalink

SEC. 122. DEDUCTION FOR QUALIFIED TUITION AND RELATED EXPENSES.

(a) In General- Subsection (e) of section 222 of the Internal Revenue Code of 1986 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to taxable years beginning after December 31, 2011.CommentsClose CommentsPermalink

SEC. 123. RESEARCH CREDIT.

(a) In General- Subparagraph (B) of section 41(h)(1) of the Internal Revenue Code of 1986 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(b) Conforming Amendment- Subparagraph (D) of section 45C(b)(1) of such Code is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(c) Effective Date- The amendments made by this section shall apply to amounts paid or incurred after December 31, 2011.CommentsClose CommentsPermalink

SEC. 124. 15-YEAR STRAIGHT-LINE COST RECOVERY FOR QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED RESTAURANT BUILDINGS AND IMPROVEMENTS, AND QUALIFIED RETAIL IMPROVEMENTS.

(a) In General- Clauses (iv), (v), and (ix) of section 168(e)(3)(E) of the Internal Revenue Code of 1986 are each amended by striking ‘January 1, 2012’ and inserting ‘January 1, 2013’.CommentsClose CommentsPermalink





(b) Effective Date- The amendments made by this section shall apply to property placed in service after December 31, 2011.CommentsClose CommentsPermalink

SEC. 125. ENHANCED CHARITABLE DEDUCTION FOR CONTRIBUTIONS OF FOOD INVENTORY.

(a) In General- Clause (iv) of section 170(e)(3)(C) of the Internal Revenue Code of 1986 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to contributions made after December 31, 2011.CommentsClose CommentsPermalink

SEC. 126. ENHANCED CHARITABLE DEDUCTION FOR CONTRIBUTIONS OF BOOK INVENTORIES TO PUBLIC SCHOOLS.

(a) In General- Clause (iv) of section 170(e)(3)(D) of the Internal Revenue Code of 1986 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to contributions made after December 31, 2011.CommentsClose CommentsPermalink

SEC. 127. ENHANCED CHARITABLE DEDUCTION FOR CORPORATE CONTRIBUTIONS OF COMPUTER INVENTORY FOR EDUCATIONAL PURPOSES.

(a) In General- Subparagraph (G) of section 170(e)(6) of the Internal Revenue Code of 1986 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2012’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to contributions made in taxable years beginning after December 31, 2011.CommentsClose CommentsPermalink

TITLE II--INFRASTRUCTURE PROVISIONSCommentsClose CommentsPermalink

SEC. 201. CAPITALIZATION OF STATE INFRASTRUCTURE BANKS.

Section 610 of title 23, United States Code, is amended--CommentsClose CommentsPermalink





(1) in subsection (d)--CommentsClose CommentsPermalink





(A) by redesignating paragraphs (5) and (6) as paragraphs (6) and (7), respectively; andCommentsClose CommentsPermalink





(B) by inserting after paragraph (4) the following:CommentsClose CommentsPermalink





‘(5) SPECIAL SINGLE ALLOCATION-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Subject to subparagraph (C), of the funds made available under subparagraph (D), the Secretary shall allocate to each State a proportional amount in the manner required under this section for a 1-time deposit into the State infrastructure bank, for use in accordance with this section.CommentsClose CommentsPermalink





‘(B) CERTAIN USES OF FUNDS- A State may use an amount equal to 20 percent of the funds allocated under subparagraph (A) for--CommentsClose CommentsPermalink





‘(i) investigating the viability of identifying revenue sources for repayment for projects;CommentsClose CommentsPermalink





‘(ii) technical assistance;CommentsClose CommentsPermalink





‘(iii) promotion to potential borrowers; andCommentsClose CommentsPermalink





‘(iv) other activities that would enhance the project pipeline.CommentsClose CommentsPermalink





‘(C) NONPARTICIPATING STATES-CommentsClose CommentsPermalink





‘(i) IN GENERAL- The Secretary shall allocate to each State that elects not to establish, or is prohibited by State law from establishing, an infrastructure bank under this section an amount equal to, at the election of the State--CommentsClose CommentsPermalink





‘(I) 20 percent of the amount that would otherwise be allocated to the State under subparagraph (A) for--CommentsClose CommentsPermalink

‘(aa) investigating the viability of establishing such an infrastructure bank in the State;CommentsClose CommentsPermalink

‘(bb) identifying revenue sources for repayment for projects;CommentsClose CommentsPermalink

‘(cc) technical assistance;CommentsClose CommentsPermalink

‘(dd) promotion to potential borrowers; andCommentsClose CommentsPermalink

‘(ee) other activities that would enhance the project pipeline; orCommentsClose CommentsPermalink

‘(II) 10 percent of the amount that would otherwise be allocated to the State under subparagraph (A) for use for other surface transportation projects authorized under this title or title 49.CommentsClose CommentsPermalink





‘(ii) USE OF REMAINING FUNDS- The amounts remaining after making an allocation to a State under clause (i) shall be redistributed by the Secretary to States with infrastructure banks under this section in accordance with subparagraph (A).CommentsClose CommentsPermalink





‘(D) FUNDING-CommentsClose CommentsPermalink





‘(i) IN GENERAL- On October 1, 2012, out of any funds in the Treasury not otherwise appropriated, the Secretary of the Treasury shall transfer to the Secretary to carry out this paragraph $10,000,000,000, to remain available until expended.CommentsClose CommentsPermalink





‘(ii) RECEIPT AND ACCEPTANCE- The Secretary shall be entitled to receive, shall accept, and shall use to carry out this paragraph the funds transferred under clause (i), without further appropriation.CommentsClose CommentsPermalink





‘(E) NON-FEDERAL SHARE- The non-Federal share of the cost of a project carried out using an allocation under this paragraph shall be 10 percent.’; andCommentsClose CommentsPermalink





(2) by adding at the end the following:CommentsClose CommentsPermalink





‘(l) Studies and Reports-CommentsClose CommentsPermalink





‘(1) ANNUAL FINANCIAL AUDIT-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The special single allocation described in subsection (d)(5)(A) shall be subject to an annual financial audit by an independent public accounting firm selected by the Inspector General to ensure that the State infrastructure bank meets generally accepted accounting principles.CommentsClose CommentsPermalink





‘(B) AVAILABILITY- The Inspector General shall--CommentsClose CommentsPermalink





‘(i) submit to the appropriate committees of Congress the results of each audit carried out under subparagraph (A); andCommentsClose CommentsPermalink





‘(ii) publish the results of each audit carried out under subparagraph (A) on a publicly accessible Internet site of the Department.CommentsClose CommentsPermalink





‘(2) ANNUAL PERFORMANCE EVALUATION-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The Inspector General shall carry out an annual assessment--CommentsClose CommentsPermalink





‘(i) to evaluate the overall performance of the State infrastructure bank program; andCommentsClose CommentsPermalink





‘(ii) to determine the effectiveness of the program at meeting the objectives and strategy goals of the program.CommentsClose CommentsPermalink





‘(B) INITIAL REVIEW- In the first annual assessment carried out under this paragraph, the Inspector General shall include a report that describes--CommentsClose CommentsPermalink





‘(i) each State that has established a State infrastructure bank under this section; andCommentsClose CommentsPermalink





‘(ii)(I) each State that elected not to establish, or is prohibited by State law from establishing, such an infrastructure bank; andCommentsClose CommentsPermalink





‘(II) each State described in subclause (I) that is investigating the viability of establishing an infrastructure bank in the State under this section.CommentsClose CommentsPermalink





‘(C) DISSEMINATION- The Inspector General shall submit to the appropriate committees of Congress a report that contains the results of each annual assessment carried out under this paragraph.’.CommentsClose CommentsPermalink

SEC. 202. HIGHWAY INFRASTRUCTURE INVESTMENT.

(a) In General- Out of any funds in the Treasury not otherwise appropriated, there is appropriated to the Secretary of Transportation (referred to in this section as the ‘Secretary’) $25,000,000,000 for--CommentsClose CommentsPermalink





(1) construction, reconstruction, rehabilitation, resurfacing, restoration, and operational improvements for highways (including Interstate highways) and bridges (including bridges on public roads of all functional classifications);CommentsClose CommentsPermalink





(2) the seismic retrofit and painting of bridges and approaches to bridges and other elevated structures; andCommentsClose CommentsPermalink





(3) the cost of mitigation eligible under title 23, United States Code, necessary to address adverse impacts of projects funded under this Act.CommentsClose CommentsPermalink





(b) Federal Share; Limitation on Obligations-CommentsClose CommentsPermalink





(1) FEDERAL SHARE- The Federal share payable on account of any project or activity carried out using funds made available under this section shall be, at the option of the recipient, up to 100 percent of the total cost of the project or activity.CommentsClose CommentsPermalink





(2) LIMITATION ON OBLIGATIONS- The funds made available under this section shall not be subject to any limitation on obligations for Federal-aid highways and highway safety construction programs established under title 23, United States Code, or any other provision of law.CommentsClose CommentsPermalink





(c) Availability- The funds made available under this section shall be available for obligation until the date that is 2 years after the date of enactment of this Act.CommentsClose CommentsPermalink





(d) Distribution of Funds- After making the set-aside under subsection (h), the Secretary shall apportion the funds made available under this section among States in the same ratio as amounts apportioned among States for fiscal year 2011 under the Surface Transportation Extension Act of 2010 (Public Law 111-147; 124 Stat. 78).CommentsClose CommentsPermalink





(e) Apportionment- The apportionments under subsection (d) shall be made not later than 30 days after the date of enactment of this Act.CommentsClose CommentsPermalink





(f) Redistribution-CommentsClose CommentsPermalink





(1) UNOBLIGATED FUNDS- Subject to paragraph (2), not later than 1 year after the date on which the apportionments are made under subsection (e), the Secretary shall--CommentsClose CommentsPermalink





(A) withdraw from each recipient of funds apportioned under subsection (e) any unobligated funds; andCommentsClose CommentsPermalink





(B) redistribute those amounts in the manner described in the Surface Transportation Extension Act of 2010 (Public Law 111-147; 124 Stat. 78) to States that have had no funds withdrawn under this paragraph (excluding States that have opted not to obligate funds under this section).CommentsClose CommentsPermalink





(2) EXTENSIONS-CommentsClose CommentsPermalink





(A) IN GENERAL- Subject to subparagraph (B), at the request of a State, the Secretary may provide an extension of the 1-year period described in paragraph (1) only to the extent that the Secretary determines that the State has encountered--CommentsClose CommentsPermalink





(i) extreme conditions that create an unworkable bidding environment; orCommentsClose CommentsPermalink





(ii) other extenuating circumstances.CommentsClose CommentsPermalink





(B) NOTICE- Before granting an extension under subparagraph (A), the Secretary shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Environment and Public Works of the Senate a written notice providing a thorough justification for the extension.CommentsClose CommentsPermalink





(g) Conditions-CommentsClose CommentsPermalink





(1) IN GENERAL- Funds made available under this section shall be administered as if apportioned under chapter 1 of title 23, United States Code.CommentsClose CommentsPermalink





(2) ADVANCE CONSTRUCTION- Funds made available under this section shall not be obligated for the purposes authorized under section 115(b) of title 23, United States Code.CommentsClose CommentsPermalink





(3) FUNDS UNDER OTHER ACTS- Funds made available under this section--CommentsClose CommentsPermalink





(A) shall be in addition to all funds provided for fiscal year 2012 for ‘Federal-aid Highways’ in any other Act; andCommentsClose CommentsPermalink





(B) shall not affect the distribution of any such funds.CommentsClose CommentsPermalink





(4) DISADVANTAGED BUSINESS ENTERPRISES- Section 1101(b) of Public Law 109-59 (23 U.S.C. 101 note; 119 Stat. 1156) shall apply to the funds apportioned under this section.CommentsClose CommentsPermalink





(h) Oversight- The Secretary may set aside not more than 0.15 percent of the funds made available under this section to fund oversight by the Administrator of the Federal Highway Administration of projects and activities carried out using funds made available to the Federal Highway Administration by this Act, to remain available through September 30, 2015.CommentsClose CommentsPermalink

SEC. 203. STATE REVOLVING LOAN FUNDS.

(a) In General- In addition to any other amounts made available under Federal law, on October 1, 2012, out of any funds in the Treasury not otherwise appropriated, the Secretary of the Treasury shall transfer to the Administrator of the Environmental Protection Agency $800,000,000, to remain available until expended--CommentsClose CommentsPermalink





(1) for State water pollution control revolving funds under title VI of the Federal Water Pollution Control Act (33 U.S.C. 1381 et seq.); andCommentsClose CommentsPermalink





(2) for State drinking water treatment revolving loan funds under section 1452 of the Safe Drinking Water Act (42 U.S.C. 300j-12).CommentsClose CommentsPermalink





(b) Receipt and Acceptance- The Administrator of the Environmental Protection Agency shall be entitled to receive, shall accept, and shall use in accordance with paragraphs (1) and (2) of subsection (a) the funds transferred under that subsection, without further appropriation.CommentsClose CommentsPermalink

TITLE III--REGULATORY REFORMCommentsClose CommentsPermalink

Subtitle A--Clearing Unnecessary Regulatory BurdensCommentsClose CommentsPermalink

SEC. 301. SHORT TITLE.

This subtitle may be cited as the ‘Clearing Unnecessary Regulatory Burdens Act’ or the ‘CURB Act’.CommentsClose CommentsPermalink

SEC. 302. REGULATORY REFORM.

(a) Definitions- In this section--CommentsClose CommentsPermalink





(1) the term ‘Administrator’ means the Administrator of the Office of Information and Regulatory Affairs in the Office of Management and Budget;CommentsClose CommentsPermalink





(2) the term ‘agency’ has the same meaning as in section 3502(1) of title 44, United States Code;CommentsClose CommentsPermalink





(3) the term ‘economically significant guidance document’ means a significant guidance document that may reasonably be anticipated to lead to an annual effect on the economy of $100,000,000 or more or adversely affect in a material way the economy or a sector of the economy, except that economically significant guidance documents do not include guidance documents on Federal expenditures and receipts;CommentsClose CommentsPermalink





(4) the term ‘disseminated’--CommentsClose CommentsPermalink





(A) means prepared by an agency and distributed to the public or regulated entities; andCommentsClose CommentsPermalink





(B) does not include--CommentsClose CommentsPermalink





(i) distribution limited to Federal Government employees;CommentsClose CommentsPermalink





(ii) intra- or interagency use or sharing of Federal Government information; andCommentsClose CommentsPermalink





(iii) responses to requests for agency records under section 552 of title 5, United States Code (commonly referred to as the ‘Freedom of Information Act’), section 552a of title 5, United States Code, (commonly referred to as the ‘Privacy Act’), the Federal Advisory Committee Act (5 U.S.C. App.), or other similar laws;CommentsClose CommentsPermalink





(5) the term ‘guidance document’ means an agency statement of general applicability and future effect, other than a regulatory action, that sets forth a policy on a statutory, regulatory or technical issue or an interpretation of a statutory or regulatory issue;CommentsClose CommentsPermalink





(6) the term ‘regulation’ means an agency statement of general applicability and future effect, which the agency intends to have the force and effect of law, that is designed to implement, interpret, or prescribe law or policy or to describe the procedure or practice requirements of an agency;CommentsClose CommentsPermalink





(7) the term ‘regulatory action’ means any substantive action by an agency (normally published in the Federal Register) that promulgates or is expected to lead to the promulgation of a final regulation, including notices of inquiry, advance notices of proposed rulemaking, and notices of proposed rulemaking;CommentsClose CommentsPermalink





(8) the term ‘significant guidance document’--CommentsClose CommentsPermalink





(A) means a guidance document disseminated to regulated entities or the general public that may reasonably be anticipated to--CommentsClose CommentsPermalink





(i) lead to an annual effect on the economy of $100,000,000 or more or affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities;CommentsClose CommentsPermalink





(ii) create a serious inconsistency or otherwise interfere with an action taken or planned by another agency;CommentsClose CommentsPermalink





(iii) materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; orCommentsClose CommentsPermalink





(iv) raise novel legal or policy issues arising out of legal mandates and the priorities, principles, and provisions of this section; andCommentsClose CommentsPermalink





(B) does not include--CommentsClose CommentsPermalink





(i) legal advisory opinions for internal Executive Branch use and not for release (such as Department of Justice Office of Legal Counsel opinions);CommentsClose CommentsPermalink





(ii) briefs and other positions taken by agencies in investigations, pre-litigation, litigation, or other enforcement proceedings;CommentsClose CommentsPermalink





(iii) speeches;CommentsClose CommentsPermalink





(iv) editorials;CommentsClose CommentsPermalink





(v) media interviews;CommentsClose CommentsPermalink





(vi) press materials;CommentsClose CommentsPermalink





(vii) congressional correspondence;CommentsClose CommentsPermalink





(viii) guidance documents that pertain to a military or foreign affairs function of the United States (other than guidance on procurement or the import or export of non-defense articles and services);CommentsClose CommentsPermalink





(ix) grant solicitations;CommentsClose CommentsPermalink





(x) warning letters;CommentsClose CommentsPermalink





(xi) case or investigatory letters responding to complaints involving fact-specific determinations;CommentsClose CommentsPermalink





(xii) purely internal agency policies;CommentsClose CommentsPermalink





(xiii) guidance documents that pertain to the use, operation or control of a government facility;CommentsClose CommentsPermalink





(xiv) internal guidance documents directed solely to other agencies; andCommentsClose CommentsPermalink





(xv) any other category of significant guidance documents exempted by an agency head in consultation with the Administrator; andCommentsClose CommentsPermalink





(9) the term ‘significant regulatory action’ means any regulatory action that is likely to result in a regulation that may--CommentsClose CommentsPermalink





(A) have an annual effect on the economy of $100,000,000 or more or adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, or State, local, or tribal governments or communities;CommentsClose CommentsPermalink





(B) create a serious inconsistency or otherwise interfere with an action taken or planned by another agency;CommentsClose CommentsPermalink





(C) materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; orCommentsClose CommentsPermalink





(D) raise novel legal or policy issues arising out of legal mandates and the priorities, principles, and provisions of this section.CommentsClose CommentsPermalink





(b) Agency Assessment of Significant Regulatory Actions- For each significant regulatory action, each agency shall submit, at such times specified by the Administrator, a report to the Office of Information and Regulatory Affairs that includes--CommentsClose CommentsPermalink





(1) an assessment, including the underlying analysis, of benefits anticipated from the significant regulatory action, such as--CommentsClose CommentsPermalink





(A) the promotion of the efficient functioning of the economy and private markets;CommentsClose CommentsPermalink





(B) the enhancement of health and safety;CommentsClose CommentsPermalink





(C) the protection of the natural environment; andCommentsClose CommentsPermalink





(D) the elimination or reduction of discrimination or bias;CommentsClose CommentsPermalink





(2) to the extent feasible, a quantification of the benefits assessed under paragraph (1);CommentsClose CommentsPermalink





(3) an assessment, including the underlying analysis, of costs anticipated from the regulatory action, such as--CommentsClose CommentsPermalink





(A) the direct cost both to the Federal Government in administering the significant regulatory action and to businesses, consumers, and others (including State, local, and tribal officials) in complying with the regulation; andCommentsClose CommentsPermalink





(B) any adverse effects on the efficient functioning of the economy, private markets (including productivity, employment, and competitiveness), health, safety, the natural environment, job creation, the prices of consumer goods, and energy costs;CommentsClose CommentsPermalink





(4) to the extent feasible, a quantification of the costs assessed under paragraph (3); andCommentsClose CommentsPermalink





(5) an assessment, including the underlying analysis, of costs and benefits of potentially effective and reasonably feasible alternatives to the planned significant regulatory action, identified by the agency or the public (including improving the current regulation and reasonably viable nonregulatory actions), and an explanation why the planned regulatory action is preferable to the identified potential alternatives.CommentsClose CommentsPermalink





(c) Agency Good Guidance Practices-CommentsClose CommentsPermalink





(1) AGENCY STANDARDS FOR SIGNIFICANT GUIDANCE DOCUMENTS-CommentsClose CommentsPermalink





(A) APPROVAL PROCEDURES-CommentsClose CommentsPermalink





(i) IN GENERAL- Each agency shall develop or have written procedures for the approval of significant guidance documents, which shall ensure that the issuance of significant guidance documents is approved by appropriate senior agency officials.CommentsClose CommentsPermalink





(ii) REQUIREMENT- Employees of an agency may not depart from significant guidance documents without appropriate justification and supervisory concurrence.CommentsClose CommentsPermalink





(B) STANDARD ELEMENTS- Each significant guidance document--CommentsClose CommentsPermalink





(i) shall--CommentsClose CommentsPermalink





(I) include the term ‘guidance’ or its functional equivalent;CommentsClose CommentsPermalink





(II) identify the agency or office issuing the document;CommentsClose CommentsPermalink





(III) identify the activity to which and the persons to whom the significant guidance document applies;CommentsClose CommentsPermalink





(IV) include the date of issuance;CommentsClose CommentsPermalink





(V) note if the significant guidance document is a revision to a previously issued guidance document and, if so, identify the document that the significant guidance document replaces;CommentsClose CommentsPermalink





(VI) provide the title of the document and a document identification number; andCommentsClose CommentsPermalink





(VII) include the citation to the statutory provision or regulation (in Code of Federal Regulations format) which the significant guidance document applies to or interprets; andCommentsClose CommentsPermalink





(ii) shall not include mandatory terms such as ‘shall’, ‘must’, ‘required’, or ‘requirement’ unless--CommentsClose CommentsPermalink





(I) the agency is using those terms to describe a statutory or regulatory requirement; orCommentsClose CommentsPermalink





(II) the terminology is addressed to agency staff and will not foreclose agency consideration of positions advanced by affected private parties.CommentsClose CommentsPermalink





(2) PUBLIC ACCESS AND FEEDBACK FOR SIGNIFICANT GUIDANCE DOCUMENTS-CommentsClose CommentsPermalink





(A) INTERNET ACCESS-CommentsClose CommentsPermalink





(i) IN GENERAL- Each agency shall--CommentsClose CommentsPermalink





(I) maintain on the Web site for the agency, or as a link on the Web site of the agency to the electronic list posted on a Web site of a component of the agency a list of the significant guidance documents in effect of the agency, including a link to the text of each significant guidance document that is in effect; andCommentsClose CommentsPermalink





(II) not later than 30 days after the date on which a significant guidance document is issued, update the list described in clause (i).CommentsClose CommentsPermalink





(ii) LIST REQUIREMENTS- The list described in subparagraph (A)(i) shall--CommentsClose CommentsPermalink





(I) include the name of each--CommentsClose CommentsPermalink

(aa) significant guidance document;CommentsClose CommentsPermalink

(bb) document identification number; andCommentsClose CommentsPermalink

(cc) issuance and revision dates; andCommentsClose CommentsPermalink

(II) identify significant guidance documents that have been added, revised, or withdrawn in the preceding year.CommentsClose CommentsPermalink





(B) PUBLIC FEEDBACK-CommentsClose CommentsPermalink





(i) IN GENERAL- Each agency shall establish and clearly advertise on the Web site for the agency a means for the public to electronically submit--CommentsClose CommentsPermalink





(I) comments on significant guidance documents; andCommentsClose CommentsPermalink





(II) a request for issuance, reconsideration, modification, or rescission of significant guidance documents.CommentsClose CommentsPermalink





(ii) AGENCY RESPONSE- Any comments or requests submitted under subparagraph (A)--CommentsClose CommentsPermalink





(I) are for the benefit of the agency; andCommentsClose CommentsPermalink





(II) shall not require a formal response from the agency.CommentsClose CommentsPermalink





(iii) OFFICE FOR PUBLIC COMMENTS-CommentsClose CommentsPermalink





(I) IN GENERAL- Each agency shall designate an office to receive and address complaints from the public relating to--CommentsClose CommentsPermalink

(aa) the failure of the agency to follow the procedures described in this section; orCommentsClose CommentsPermalink

(bb) the failure to treat a significant guidance document as a binding requirement.CommentsClose CommentsPermalink

(II) WEB SITE- The agency shall provide, on the Web site of the agency, the name and contact information for the office designated under clause (i).CommentsClose CommentsPermalink





(3) NOTICE AND PUBLIC COMMENT FOR ECONOMICALLY SIGNIFICANT GUIDANCE DOCUMENTS-CommentsClose CommentsPermalink





(A) IN GENERAL- Except as provided in paragraph (2), in preparing a draft of an economically significant guidance document, and before issuance of the final significant guidance document, each agency shall--CommentsClose CommentsPermalink





(i) publish a notice in the Federal Register announcing that the draft document is available;CommentsClose CommentsPermalink





(ii) post the draft document on the Internet and make a tangible copy of that document publicly available (or notify the public how the public can review the guidance document if the document is not in a format that permits such electronic posting with reasonable efforts);CommentsClose CommentsPermalink





(iii) invite public comment on the draft document; andCommentsClose CommentsPermalink





(iv) prepare and post on the Web site of the agency a document with responses of the agency to public comments.CommentsClose CommentsPermalink





(B) EXCEPTIONS- In consultation with the Administrator, an agency head may identify a particular economically significant guidance document or category of such documents for which the procedures of this subsection are not feasible or appropriate.CommentsClose CommentsPermalink





(4) EMERGENCIES-CommentsClose CommentsPermalink





(A) IN GENERAL- In emergency situations or when an agency is obligated by law to act more quickly than normal review procedures allow, the agency shall notify the Administrator as soon as possible and, to the extent practicable, comply with this subsection.CommentsClose CommentsPermalink





(B) SIGNIFICANT GUIDANCE DOCUMENTS SUBJECT TO STATUTORY OR COURT-IMPOSED DEADLINE- For a significant guidance document that is governed by a statutory or court-imposed deadline, the agency shall, to the extent practicable, schedule the proceedings of the agency to permit sufficient time to comply with this subsection.CommentsClose CommentsPermalink





(5) EFFECTIVE DATE- This section shall take effect 60 days after the date of enactment of this subtitle.CommentsClose CommentsPermalink

SEC. 303. REDUCTION OR WAIVER OF CIVIL PENALTIES IMPOSED ON SMALL ENTITIES.

(a) In General- Chapter 6 of title 5, United States Code, is amended by adding at the end the following:CommentsClose CommentsPermalink

‘Sec. 613. Reduction or waiver of civil penalties imposed on small entities

‘(a) Upon notifying a small entity of a violation by the small entity of a collection of information or recordkeeping requirement, the agency shall provide the small entity with an opportunity to request that the agency reduce or waive any civil penalty imposed on the small entity as a result of the violation.CommentsClose CommentsPermalink





‘(b) If a small entity requests a reduction or waiver under subsection (a), the agency that receives the request shall--CommentsClose CommentsPermalink





‘(1) review the records of the agency; andCommentsClose CommentsPermalink





‘(2) reduce or waive the civil penalty imposed on the small entity if the agency determines that--CommentsClose CommentsPermalink





‘(A) the civil penalty was the result of a first-time violation by the small entity of a collection of information or recordkeeping requirement; andCommentsClose CommentsPermalink





‘(B) the reduction or waiver is consistent with the conditions and exclusions described in paragraphs (1), (3), (4), (5), and (6) of section 223(b) of the Small Business Regulatory Enforcement Fairness Act of 1996 (5 U.S.C. 601 note).CommentsClose CommentsPermalink





‘(c) Not later than 60 days after the receipt of a request from a small entity under subsection (a), an agency shall send the small entity written notice of the determination of the agency with respect to the request and the reasons for the determination.CommentsClose CommentsPermalink





‘(d) The Chief Counsel for Advocacy shall submit to Congress an annual report summarizing--CommentsClose CommentsPermalink





‘(1) all requests received by the agencies under subsection (a) during the previous year; andCommentsClose CommentsPermalink





‘(2) the results of the requests described in paragraph (1).’.CommentsClose CommentsPermalink





(b) Technical and Conforming Amendment- The table of sections for chapter 6 of title 5, United States Code, is amended by adding at the end the following:CommentsClose CommentsPermalink





‘613. Reduction or waiver of civil penalties imposed on small entities.’.CommentsClose CommentsPermalink

Subtitle B--EPA Regulatory ReliefCommentsClose CommentsPermalink

SEC. 311. SHORT TITLE.

This subtitle may be cited as the ‘EPA Regulatory Relief Act of 2011’.CommentsClose CommentsPermalink

SEC. 312. LEGISLATIVE STAY.

(a) Establishment of Standards- In place of the rules specified in subsection (b), and notwithstanding the date by which such rules would otherwise be required to be promulgated, the Administrator of the Environmental Protection Agency (in this subtitle referred to as the ‘Administrator’) shall--CommentsClose CommentsPermalink





(1) propose regulations for industrial, commercial, and institutional boilers and process heaters, and commercial and industrial solid waste incinerator units, subject to any of the rules specified in subsection (b)--CommentsClose CommentsPermalink





(A) establishing maximum achievable control technology standards, performance standards, and other requirements under sections 112 and 129, as applicable, of the Clean Air Act (42 U.S.C. 7412, 7429); andCommentsClose CommentsPermalink





(B) identifying non-hazardous secondary materials that, when used as fuels or ingredients in combustion units of such boilers, process heaters, or incinerator units are solid waste under the Solid Waste Disposal Act (42 U.S.C. 6901 et seq.; commonly referred to as the ‘Resource Conservation and Recovery Act’) for purposes of determining the extent to which such combustion units are required to meet the emissions standards under section 112 of the Clean Air Act (42 U.S.C. 7412) or the emission standards under section 129 of such Act (42 U.S.C. 7429); andCommentsClose CommentsPermalink





(2) finalize the regulations on the date that is 15 months after the date of the enactment of this subtitle, or on such later date as may be determined by the Administrator.CommentsClose CommentsPermalink





(b) Stay of Earlier Rules- The following rules are of no force or effect, shall be treated as though such rules had never taken effect, and shall be replaced as described in subsection (a):CommentsClose CommentsPermalink





(1) ‘National Emission Standards for Hazardous Air Pollutants for Major Sources: Industrial, Commercial, and Institutional Boilers and Process Heaters’, published at 76 Fed. Reg. 15608 (March 21, 2011).CommentsClose CommentsPermalink





(2) ‘National Emission Standards for Hazardous Air Pollutants for Area Sources: Industrial, Commercial, and Institutional Boilers’, published at 76 Fed. Reg. 15554 (March 21, 2011).CommentsClose CommentsPermalink





(3) ‘Standards of Performance for New Stationary Sources and Emission Guidelines for Existing Sources: Commercial and Industrial Solid Waste Incineration Units’, published at 76 Fed. Reg. 15704 (March 21, 2011).CommentsClose CommentsPermalink





(4) ‘Identification of Non-Hazardous Secondary Materials That are Solid Waste’, published at 76 Fed. Reg. 15456 (March 21, 2011).CommentsClose CommentsPermalink





(c) Inapplicability of Certain Provisions- With respect to any standard required by subsection (a) to be promulgated in regulations under section 112 of the Clean Air Act (42 U.S.C. 7412), the provisions of subsections (g)(2) and (j) of such section 112 shall not apply prior to the effective date of the standard specified in such regulations.CommentsClose CommentsPermalink

SEC. 313. COMPLIANCE DATES.

(a) Establishment of Compliance Dates- For each regulation promulgated pursuant to section 312, the Administrator--CommentsClose CommentsPermalink





(1) shall establish a date for compliance with standards and requirements under such regulation that is, notwithstanding any other provision of law, not earlier than 5 years after the effective date of the regulation; andCommentsClose CommentsPermalink





(2) in proposing a date for such compliance, shall take into consideration--CommentsClose CommentsPermalink





(A) the costs of achieving emissions reductions;CommentsClose CommentsPermalink





(B) any non-air quality health and environmental impact and energy requirements of the standards and requirements;CommentsClose CommentsPermalink





(C) the feasibility of implementing the standards and requirements, including the time needed to--CommentsClose CommentsPermalink





(i) obtain necessary permit approvals; andCommentsClose CommentsPermalink





(ii) procure, install, and test control equipment;CommentsClose CommentsPermalink





(D) the availability of equipment, suppliers, and labor, given the requirements of the regulation and other proposed or finalized regulations of the Environmental Protection Agency; andCommentsClose CommentsPermalink





(E) potential net employment impacts.CommentsClose CommentsPermalink





(b) New Sources- The date on which the Administrator proposes a regulation pursuant to section 312(a)(1) establishing an emission standard under section 112 or 129 of the Clean Air Act (42 U.S.C. 7412, 7429) shall be treated as the date on which the Administrator first proposes such a regulation for purposes of applying the definition of a new source under section 112(a)(4) of such Act (42 U.S.C. 7412(a)(4)) or the definition of a new solid waste incineration unit under section 129(g)(2) of such Act (42 U.S.C. 7429(g)(2)).CommentsClose CommentsPermalink





(c) Rule of Construction- Nothing in this subtitle shall be construed to restrict or otherwise affect the provisions of paragraphs (3)(B) and (4) of section 112(i) of the Clean Air Act (42 U.S.C. 7412(i)).CommentsClose CommentsPermalink

SEC. 314. ENERGY RECOVERY AND CONSERVATION.

(a) In General- Notwithstanding any other provision of law, to ensure the recovery and conservation of energy consistent with the Solid Waste Disposal Act (42 U.S.C. 6901 et seq.) (commonly known as the ‘Resource Conservation and Recovery Act of 1976’), in promulgating regulations under section 312(a) that address the subject matter of the regulations described in paragraphs (3) and (4) of section 312(b), the Administrator shall--CommentsClose CommentsPermalink





(1) adopt the definitions of the terms ‘commercial and industrial solid waste incineration unit’, ‘commercial and industrial waste’, and ‘contained gaseous material’ contained in the regulation entitled ‘Standards of Performance for New Stationary Sources and Emission Guidelines for Existing Sources: Commercial and Industrial Solid Waste Incineration Units’ (65 Fed. Reg. 75338 (December 1, 2000)); andCommentsClose CommentsPermalink





(2) identify nonhazardous secondary material as not to be solid waste for purposes of the Solid Waste Disposal Act (42 U.S.C. 6901 et seq.) if--CommentsClose CommentsPermalink





(A) the material--CommentsClose CommentsPermalink





(i) does not meet the definition of commercial and industrial waste; andCommentsClose CommentsPermalink





(ii) is on the list published by the Administrator under subsection (b); orCommentsClose CommentsPermalink





(B) in the case of the material that is a gas, the material does not meet the definition of contained gaseous material.CommentsClose CommentsPermalink





(b) List of Nonhazardous Secondary Materials-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 120 days after the date of enactment of this subtitle, the Administrator shall publish a list of nonhazardous secondary materials that are not solid waste when combusted in units designed for energy recovery, including--CommentsClose CommentsPermalink





(A) without limitation, all forms of biomass, including--CommentsClose CommentsPermalink





(i) agricultural and forest-derived biomass;CommentsClose CommentsPermalink





(ii) biomass crops, vines, and orchard trees;CommentsClose CommentsPermalink





(iii) bagasse and other crop and tree residues, including--CommentsClose CommentsPermalink





(I) hulls and seeds;CommentsClose CommentsPermalink





(II) spent grains;CommentsClose CommentsPermalink





(III) byproducts of cotton;CommentsClose CommentsPermalink





(IV) corn and peanut production;CommentsClose CommentsPermalink





(V) rice milling and grain elevator operations;CommentsClose CommentsPermalink





(VI) cellulosic biofuels; andCommentsClose CommentsPermalink





(VII) byproducts of ethanol natural fermentation processes;CommentsClose CommentsPermalink





(iv) hogged fuel, including wood pallets, sawdust, and wood pellets;CommentsClose CommentsPermalink





(v) wood debris from forests and urban areas;CommentsClose CommentsPermalink





(vi) resinated wood and other resinated biomass-derived residuals, including trim, sanderdust, offcuts, and woodworking residuals;CommentsClose CommentsPermalink





(vii) creosote-treated, borate-treated, sap-stained, and other treated wood;CommentsClose CommentsPermalink





(viii) residuals from wastewater treatment by the manufacturing industry, including process wastewater with significant British thermal unit (‘Btu’) value;CommentsClose CommentsPermalink





(ix) paper and paper or cardboard recycling residuals, including paper-derived fuel cubes, paper fines, and paper and cardboard rejects;CommentsClose CommentsPermalink





(x) turpentine, turpentine derivatives, pine tar, rectified methanol, glycerine, lumber kiln condensates, and wood char;CommentsClose CommentsPermalink





(xi) tall oil and related soaps;CommentsClose CommentsPermalink





(xii) biogases or bioliquids generated from biomass materials, wastewater operations, or landfill operations;CommentsClose CommentsPermalink





(xiii) processed biomass derived from construction and demolition debris for the purpose of fuel production; andCommentsClose CommentsPermalink





(xiv) animal manure and bedding material;CommentsClose CommentsPermalink





(B) solid and emulsified paraffin;CommentsClose CommentsPermalink





(C) petroleum and chemical reaction and distillation byproducts and residues, alcohol, ink, and nonhalogenated solvents;CommentsClose CommentsPermalink





(D) tire-derived fuel, including factory scrap tire and related material;CommentsClose CommentsPermalink





(E) foundry sand processed in thermal reclamation units;CommentsClose CommentsPermalink





(F) coal refuse and coal combustion residuals;CommentsClose CommentsPermalink





(G) shredded cloth and carpet scrap;CommentsClose CommentsPermalink





(H) latex paint water, organic printing dyes and inks, recovered paint solids, and nonmetallic paint sludges;CommentsClose CommentsPermalink





(I) nonchlorinated plastics;CommentsClose CommentsPermalink





(J) all used oil that qualifies as recycled oil under section 1004 of the Solid Waste Disposal Act (42 U.S.C. 6903);CommentsClose CommentsPermalink





(K) process densified fuels that contain any of the materials described in this paragraph; andCommentsClose CommentsPermalink





(L) any other specific or general categories of material that the Administrator determines the combustion of which is for use as a fuel pursuant to paragraph (2).CommentsClose CommentsPermalink





(2) ADDITIONS TO THE LIST-CommentsClose CommentsPermalink





(A) IN GENERAL- To provide greater regulatory certainty, the Administrator may, after public notice and opportunity to comment, add nonhazardous secondary materials to the list published under paragraph (1)--CommentsClose CommentsPermalink





(i) as the Administrator determines necessary; orCommentsClose CommentsPermalink





(ii) based on a petition submitted by any person.CommentsClose CommentsPermalink





(B) RESPONSE- Not later than 120 days after receiving any petition under subparagraph (A)(ii), the Administrator shall respond to the petition.CommentsClose CommentsPermalink





(C) REQUIREMENTS- In making a determination under this paragraph, the Administrator may decline to add a material to the list under paragraph (1) if the Administrator determines that regulation under section 112 of the Clean Air Act (42 U.S.C. 7412) would not reasonably protect public health with an ample margin of safety.CommentsClose CommentsPermalink

SEC. 315. OTHER PROVISIONS.

(a) Establishment of Standards Achievable in Practice- In promulgating rules under section 312(a), the Administrator shall ensure that emissions standards for existing and new sources established under section 112 or 129 of the Clean Air Act (42 U.S.C. 7412, 7429), as applicable, can be met under actual operating conditions consistently and concurrently with emission standards for all other air pollutants regulated by the rule for the source category, taking into account variability in actual source performance, source design, fuels, inputs, controls, ability to measure the pollutant emissions, and operating conditions.CommentsClose CommentsPermalink





(b) Regulatory Alternatives- For each regulation promulgated pursuant to section 312(a), from among the range of regulatory alternatives authorized under the Clean Air Act (42 U.S.C. 7401 et seq.) including work practice standards under section 112(h) of such Act (42 U.S.C. 7412(h)), the Administrator shall impose the least burdensome, consistent with the purposes of such Act and Executive Order 13563 published at 76 Fed. Reg. 3821 (January 21, 2011).CommentsClose CommentsPermalink

TITLE IV--WORKFORCE DEVELOPMENTCommentsClose CommentsPermalink

Subtitle A--Job Training Program ConsolidationCommentsClose CommentsPermalink

SEC. 401. SHORT TITLE.

This subtitle may be cited as the ‘Job Training Program Consolidation Act of 2011’.CommentsClose CommentsPermalink

SEC. 402. DEFINITIONS.

In this subtitle:CommentsClose CommentsPermalink





(1) JOB TRAINING PROGRAM- The term ‘job training program’ means any federally funded employment and training program, including the programs identified in the January 2011 report of the Government Accountability Office entitled ‘Multiple Employee and Training Programs: Providing Information on Colocating Services and Consolidating Administrative Structures Could Promote Efficiencies’ (GAO-11-92) or the March 2011 report of such Office entitled ‘Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue’ (GAO-11-318SP).CommentsClose CommentsPermalink





(2) DIRECTOR- The term ‘Director’ means the Director of the Office of Management and Budget.CommentsClose CommentsPermalink

SEC. 403. STUDY AND PROPOSAL ON DUPLICATIVE JOB TRAINING PROGRAMS.

(a) Study Required- The Director shall conduct a study on the effectiveness of current job training programs and on the consolidation of duplicative job training programs, using funds that are authorized under Federal law other than this subtitle and available for activities described in this section.CommentsClose CommentsPermalink





(b) Recommendations-CommentsClose CommentsPermalink





(1) IN GENERAL- In conducting the study required by subsection (a), the Director shall prepare recommendations for legislation.CommentsClose CommentsPermalink





(2) REDUCTION OF PROGRAMS AND COSTS- The recommended legislation shall--CommentsClose CommentsPermalink





(A) reduce the overall number of job training programs;CommentsClose CommentsPermalink





(B) reduce Federal administrative costs of job training programs;CommentsClose CommentsPermalink





(C) reduce State and local administrative costs of job training programs; andCommentsClose CommentsPermalink





(D) ensure that job training programs for veterans are visible and accessible to veterans seeking employment.CommentsClose CommentsPermalink





(3) CONSOLIDATION UNDER SINGLE AGENCY- The recommended legislation shall consolidate all job training programs into a reduced number of programs that--CommentsClose CommentsPermalink





(A) are carried out by a single agency; andCommentsClose CommentsPermalink





(B) emphasize the provision of job training that develops skills needed by employers in the State or local area involved.CommentsClose CommentsPermalink





(4) USE OF SAVINGS- Under the recommended legislation--CommentsClose CommentsPermalink





(A) half of all funds saved shall be used to increase funds for individual training accounts under section 134(d)(4)(F) of the Workforce Investment Act of 1998 (29 U.S.C. 2864(d)(4)(F)); andCommentsClose CommentsPermalink





(B) half of all funds saved shall be deposited in the General Fund of the Treasury for debt reduction purposes.CommentsClose CommentsPermalink





(c) Report- Using funds described in subsection (a), not later than 180 days after the date of enactment of this Act, the Director shall prepare and submit to Congress a report on the results of the study required by subsection (a), including the recommendations described in subsection (b).CommentsClose CommentsPermalink

Subtitle B--Innovation and Job CreationCommentsClose CommentsPermalink

SEC. 411. SHORT TITLE.

This subtitle may be cited as the ‘National Innovation and Job Creation Act of 2011’.CommentsClose CommentsPermalink

SEC. 412. DEFINITIONS.

In this subtitle:CommentsClose CommentsPermalink





(1) BOARD- The term ‘Board’ means the National Innovation Council Board appointed under section 414.CommentsClose CommentsPermalink





(2) CLIC- The term ‘CLIC’ means the CLUSTER Information Center established under section 416.CommentsClose CommentsPermalink





(3) CLUSTER INITIATIVE- The term ‘CLUSTER Initiative’ means a formally organized effort to promote cluster growth and competitiveness through collaborative activities among cluster participants.CommentsClose CommentsPermalink





(4) CLUSTER PROGRAM- The term ‘CLUSTER Program’ means the Competitive Leadership for the United States Through its Economic Regions Program established under this subtitle to create and sustain a series of initiatives to promote economic growth in industry groups.CommentsClose CommentsPermalink





(5) COUNCIL- The term ‘Council’ means the National Innovation Council established under section 413.CommentsClose CommentsPermalink





(6) INDUSTRY CLUSTER- The term ‘industry cluster’ means a geographic concentration of interconnected businesses, suppliers, service providers, and associated institutions in a particular field.CommentsClose CommentsPermalink





(7) INDUSTRY RESEARCH COUNCIL- The term ‘Industry Research Council’ means an entity that--CommentsClose CommentsPermalink





(A) is organized for the purpose of advancing innovation;CommentsClose CommentsPermalink





(B) is comprised of at least 5 for profit entities; andCommentsClose CommentsPermalink





(C) contributes not less than the minimum amount established by the Council toward any grant awarded by the Council.CommentsClose CommentsPermalink





(8) INNOVATION- The term ‘innovation’ means the achievement of meaningful increases in productivity through the introduction or diffusion of a new or improved product, service, process, source of supply of materials, business structure, business practice, business model, or methods of production, delivery, distribution, financing, marketing, packaging, promoting, or pricing.CommentsClose CommentsPermalink





(9) PRODUCTIVITY- The term ‘productivity’ means the measure of the quality or quantity of economic output relative to the input required to produce that output.CommentsClose CommentsPermalink

SEC. 413. NATIONAL INNOVATION COUNCIL.

(a) Establishment-CommentsClose CommentsPermalink





(1) IN GENERAL- There is established, in the Executive Office of the President, the ‘National Innovation Council’, which shall--CommentsClose CommentsPermalink





(A) coordinate Federal innovation policy; andCommentsClose CommentsPermalink





(B) provide financial assistance for State and local innovation initiatives.CommentsClose CommentsPermalink





(2) DIRECTOR- The Council shall be under the direction of a Director, who shall be appointed by the President, with the advice and consent of the Senate.CommentsClose CommentsPermalink





(3) STAFF-CommentsClose CommentsPermalink





(A) IN GENERAL- In accordance with such policies as the Council shall from time to time prescribe, the Director shall appoint and fix the compensation of such personnel as may be necessary to enable the Council to perform its duties under this subtitle.CommentsClose CommentsPermalink





(B) TEMPORARY STAFF- The Director may appoint, for a limited term or on a temporary basis, such professional or technical staff as the Director determines to be necessary to carry out specific functions under this subtitle for which their expertise is required.CommentsClose CommentsPermalink





(b) Powers and Responsibilities-CommentsClose CommentsPermalink





(1) POLICY FORMULATION AND ADVOCACY- The Council shall be responsible for formulating and advocating for the innovation policy of the Federal Government.CommentsClose CommentsPermalink





(2) ASSISTANCE- The Council shall achieve the goal described in paragraph (1) by--CommentsClose CommentsPermalink





(A) providing assistance to other Federal agencies with respect to innovation, upon request;CommentsClose CommentsPermalink





(B) assisting the Census Bureau, the Bureau of Economic Analysis, the Bureau of Labor Statistics, other major Federal statistical agencies, and the National Science Foundation in developing operational measures of innovation that can be included in new or existing economic data sources, and providing funding to such agencies for such purpose;CommentsClose CommentsPermalink





(C) providing Federal agencies and companies with the information they need to promote innovation and productivity; andCommentsClose CommentsPermalink





(D) assisting companies with activities such as--CommentsClose CommentsPermalink





(i) joint industry-university research partnerships;CommentsClose CommentsPermalink





(ii) technology transfer from laboratories to businesses;CommentsClose CommentsPermalink





(iii) technology-based entrepreneurship;CommentsClose CommentsPermalink





(iv) industrial modernization through adoption of best practice technologies and business practices; andCommentsClose CommentsPermalink





(v) incumbent worker training.CommentsClose CommentsPermalink





(3) INNOVATION MEASUREMENT- The Council shall create methods of measuring innovation and productivity.CommentsClose CommentsPermalink





(4) RESEARCH PROGRAM- The Council shall carry out a program of research on innovation and productivity.CommentsClose CommentsPermalink





(5) ADVOCACY- The Council shall recommend specific measures to improve innovation and productivity in the United States.CommentsClose CommentsPermalink





(c) Collaboration- The Council shall collaborate with, and provide funding to, the Census Bureau, the Bureau of Economic Analysis, the Bureau of Labor Statistics, other major Federal statistical agencies, and the National Science Foundation to develop--CommentsClose CommentsPermalink





(1) measures of productivity in the service sector;CommentsClose CommentsPermalink





(2) measures of total factor productivity, reflecting capital, materials, energy, and purchased services, labor, and other relevant factors as productive inputs for all industries;CommentsClose CommentsPermalink





(3) measures of gross product and productivity for counties and metropolitan areas; andCommentsClose CommentsPermalink





(4) measures of private rates of return from research and development.CommentsClose CommentsPermalink





(d) Data Collection and Analysis- The Council shall--CommentsClose CommentsPermalink





(1) collect and analyze data necessary to evaluate the impact on productivity resulting from the Council’s programs; andCommentsClose CommentsPermalink





(2) require recipients of funding or other assistance from the Council to provide information necessary to measure improvements in productivity resulting from such funding or assistance.CommentsClose CommentsPermalink





(e) Annual Report- The Council shall annually submit a report (to be known as the ‘National Innovation Report’) to Congress, which shall set forth--CommentsClose CommentsPermalink





(1) the current and foreseeable trends in innovation and productivity in the Nation;CommentsClose CommentsPermalink





(2) a review and analysis of recent domestic and international developments affecting innovation and productivity in the Nation;CommentsClose CommentsPermalink





(3) goals for improved innovation and productivity in the Nation;CommentsClose CommentsPermalink





(4) a program designed to improve innovation and productivity in the Nation; andCommentsClose CommentsPermalink





(5) such recommendations for legislation as the President considers desirable.CommentsClose CommentsPermalink

SEC. 414. NATIONAL INNOVATION COUNCIL BOARD.

(a) Establishment- The Council shall be under the direction of the National Innovation Council Board, which shall be comprised of 11 voting members, who shall be appointed by the President, with the advice and consent of the Senate.CommentsClose CommentsPermalink





(b) Appointment Criteria-CommentsClose CommentsPermalink





(1) QUALIFICATIONS- Each voting member of the Board--CommentsClose CommentsPermalink





(A) shall be eminent in the field of business, economic development, health care, applied sciences, engineering, education, or public affairs;CommentsClose CommentsPermalink





(B) shall have a record of distinguished service in his or her field; andCommentsClose CommentsPermalink





(C) shall have demonstrated knowledge and appreciation of the value of innovation.CommentsClose CommentsPermalink





(2) REPRESENTATION- In making appointments under this section, the President shall--CommentsClose CommentsPermalink





(A) give due regard to equitable representation of members who are women or who represent minority groups;CommentsClose CommentsPermalink





(B) provide representation of the views of leaders in economic development and innovation in all areas of the Nation; andCommentsClose CommentsPermalink





(C) appoint not fewer than--CommentsClose CommentsPermalink





(i) 1 representative with a background in manufacturing;CommentsClose CommentsPermalink





(ii) 1 representative with a background in the service industry;CommentsClose CommentsPermalink





(iii) 1 representative of higher education;CommentsClose CommentsPermalink





(iv) 1 representative of State and local government;CommentsClose CommentsPermalink





(v) 1 representative of organized labor;CommentsClose CommentsPermalink





(vi) 1 representative of the nonprofit sector;CommentsClose CommentsPermalink





(vii) 1 representative of economic development organizations;CommentsClose CommentsPermalink





(viii) 1 representative of professional associations; andCommentsClose CommentsPermalink





(ix) 1 recognized expert in innovation.CommentsClose CommentsPermalink





(3) TERMS- Voting members of the Board shall be appointed to 4-year terms.CommentsClose CommentsPermalink





(4) EX OFFICIO MEMBERS- The Secretary of Commerce and the Secretary of Labor shall serve as ex officio members of the Board.CommentsClose CommentsPermalink