Summary: H.R.2767 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.2767. Bill summaries are authored by CRS.

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Introduced in House (06/09/2009)

Investing in Tomorrow's Technology Act - Amends the Small Business Act to extend through FY2011 the Small Business Innovation Research (SBIR) Program and the Small Business Technology Transfer (STTR) Program.

Provides that, with respect to participation in an SBIR or STTR program: (1) a business that has more than 500 employees shall not qualify as a small business; and (2) in determining whether a small business is independently owned and operated, the Administrator of the Small Business Administration (SBA) shall not consider the business as affiliated with a venture capital operating company if such company does not own 50% or more of the business and the company's employees do not constitute a majority of the business's board of directors.

Provides limited conditions under which a small business shall still be considered eligible for SBIR/STTR participation when a venture capital operating company controlled by a business with more than 500 employees has an ownership interest in a small business owned in majority part by venture capital operating companies.