Innovation Centers Acceleration Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D MorelleSponsor

11 cosponsors · 11 D

4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill establishes a program to advance economic development by designating nine cities as innovation centers and providing and modifying certain related grants. It also establishes the Innovation Center Selection Committee to designate these cities.

What it does: CRS summary · Introduced in House · Jan 25, 2021

Innovation Centers Acceleration Act

The innovation center designation entitles selected cities—and the businesses, research institutions, and other organizations that operate within them—to various federal funding and benefits for research activities, business and workforce development, and transportation infrastructure projects.

These benefits include expanding various tax credits and incentives for businesses. The bill also makes it easier for those businesses to access loans and other financial instruments to raise capital.

In addition, the bill establishes a grant program for local and tribal governments that partner with innovation centers to develop and preserve affordable housing. It also modifies existing grants, loans, and other programs that support transportation infrastructure to specifically target initiatives in innovation centers.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Innovation Centers Acceleration Act

Latest action (Feb 4, 2021): Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Policy area: Commerce · Origin: House · Introduced: Jan 25, 2021

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.