Summary: H.R.4865 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.4865. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/23/2016)

Nanotechnology Advancement and New Opportunities Act

This bill directs the Department of Commerce, if $100 million is made available from the private sector for establishing a Nanomanufacturing Investment Partnership, to establish such a Partnership to provide funding for precommercial nanomanufacturing research and development projects.

The Partnership may provide funding through direct investments in specified mechanisms designed to advance nanomanufacturing.

Commerce shall establish an advisory board to assist it in carrying out the Partnership.

The bill amends the Internal Revenue Code (IRC) to allow a tax credit for the purchase of qualified nanotechnology developer stock.

Commerce may establish within the Technology Administration a grant program to support the establishment and development of incubators (entities affiliated with or housed in degree-granting institutions that provide space and coordinated and specialized services to certain entrepreneurial businesses). Commerce shall establish a Nanotechnology Startup Advisory Council.

The National Science Foundation (NSF) shall establish a Nanoscale Science and Engineering Center for the development of computer aided design tools for nanotechnology applications.

The bill requires the establishment of nanotechnology research grant programs by: (1) the Department of Energy (DOE) to address the need for clean, cheap, renewable energy; (2) the Environmental Protection Agency to address technologies for remediation of pollution and other environmental protection technologies; (3) the Department of Homeland Security to address the need for sensors and other materials related to homeland security needs; and (4) the Department of Health and Human Services to address health-related applications of nanotechnology.

The National Nanotechnology Coordination Office shall transmit a nanotechnology research strategy establishing priorities for the federal government and industry.

The bill amends the IRC to: (1) allow a tax credit for nanotechnology education and training program expenses; and (2) revise, for purposes of Hope and Lifetime Learning tax credits, the definition of "eligible educational institution" to include commercial nanotechnology training providers.

The NSF shall establish: (1) a grant program for the development of curriculum materials for interdisciplinary nanotechnology courses at institutions of higher education, and (2) a program to encourage manufacturing companies to enter into partnerships with occupational training centers for the development of training to support nanotechnology manufacturing.

DOE shall transmit to Congress a strategy for increasing interaction on nanotechnology issues between scientists and engineers at DOE national laboratories and in the informal science education community.