There is one summary for S.1394. Bill summaries are authored by CRS.

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Introduced in Senate (06/27/1985)

Technology Education and Extension Act of 1985 - Establishes the Technology Education and Extension Trust Fund in the Treasury.

Directs the Secretary of the Treasury to be the trustee of the Fund and to report to the Congress annually on the fund's operation. Directs the Secretary to transfer from the Treasury's general fund to the fund, for FY 1986 through 1990, two percent of the rents, royalties, and other sums paid to the United States under the Outer Continental Shelf Lands Act, the Mineral Leasing Act of 1920, and any other Federal statute authorizing payments for mineral resource development designated by the Secretary for the purpose of this Act. Limits the amount of such transfers to $100,000,000 in any one fiscal year. Provides that amounts in the Fund shall be available for making payments in accordance with this Act as provided in advance by appropriation Acts, and without fiscal year limitation on availability unless specifically enacted. Prohibits the Secretary from making transfers to the Fund after September 30, 1992. Directs the Secretary to pay into the Treasury's general fund any amounts remaining in the Fund after September 30, 1992.

Authorizes the Director of the National Science Foundation to make grants, after consultation with the Secretaries of Commerce and Education, to institutions of higher education, businesses, nonprofit organizations, and State or local agencies. Sets forth application requirements. Allows certain of such entities to file a joint application.

Allows such grants to be used for: (1) high technology education and research within institutions of higher education; (2) laboratories and related facilities; (3) high technology extension centers for student and teacher training and for promotion of applied research, technology transfer, and investment in technology-related industries; (4) coordination of academic high technology programs with industry-based research and training, to promote specified purposes; and (5) improving the access of women, minorities, and the handicapped to technical, engineering, and scientific fields.

Sets forth provisions for: (1) grant payments; (2) distribution of funds; (3) withholding; (4) administration; and (5) audit.