Sec. 884. PILOT PROGRAM FOR DOMESTIC INVESTMENT UNDER THE SBIR PROGRAM
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## SEC. 884 PILOT PROGRAM FOR DOMESTIC INVESTMENT UNDER THE SBIR PROGRAM **[**[15 U.S.C. 638 note](/us/usc/t15/s638)**]** ###
(a)In General Not later than 1 year after the date of the enactment of this Act and subject to subsection (b), the Secretary of Defense shall establish and administer a program to be known as the “Domestic Investment Pilot Program” under which the Secretary and the service acquisition executive for each military department may make a SBIR award under section 9(dd) of the Small Business Act (15 U.S.C. 638) to a small business concern without providing the written determination described under paragraph
(2)of such section 9(dd) if such concern is— ####
(1)exclusively owned by multiple United States-owned venture capital operating companies, hedge funds, or private equity firms, or ####
(2)majority-owned by multiple United States-owned venture capital operating companies, hedge funds, or private equity firms, if the minority foreign ownership of such concern is limited to members of the national technology and industrial base as defined under section 4801 of title 10, United States Code. ###
(b)Limitation During any fiscal year, the aggregate amount of awards made under the Domestic Investment Pilot Program shall not exceed an amount equal to 10 percent of the total amount that the Secretary of Defense may award under section 9 of the Small Business Act (15 U.S.C. 638) during such fiscal year. ###
(c)Evaluation Criteria In carrying out the Domestic Investment Pilot Program, the Secretary of Defense may not use investment of venture capital or investment from hedge funds or private equity firms as a criterion for the award of contracts under the SBIR program or STTR program. ###
(d)Annual Reporting The Secretary of Defense shall include as part of each annual report required under section 9(b)(7) of the Small Business Act (15 U.S.C. 638(b)(7)) information on the implementation of the Domestic Investment Pilot Program with respect to the year covered by the report, including— ####
(1)the number of applications for participation received from small business concerns; ####
(2)the number of awards made to small business concerns, including an identification of such concerns; ####
(3)the extent to which a small business concern participant is foreign-owned, including an identification of the foreign owners; and ####
(4)an assessment of the effect of the Domestic Investment Pilot Program on— #####
(A)inducing additional venture capital, hedge fund, or private equity funding of research as defined in section 9(e)(5) of the Small Business Act (15 U.S.C. 638(e)(5)); #####
(B)substantially contributing to the mission of the Department of Defense; and #####
(C)otherwise fulfilling the capital needs of small business concerns for additional financing for SBIR projects. ###
(e)Notification The Secretary of Defense shall notify the Small Business Administration of an award made under the Domestic Investment Pilot Program not later than 30 days after such award is made. ###
(f)Termination The Domestic Investment Pilot Program established under this section shall terminate on September 30, 2022. ###
(g)Definitions In this section: ####
(1)Military department; service acquisition executive The terms “military department” and “service acquisition executive” have the meanings given those terms, respectively, in section 101 of title 10, United States Code. ####
(2)SBIR; sttr The terms “SBIR” and “STTR” have the meanings given those terms, respectively, in section 9(e) of the Small Business Act (15 U.S.C. 638(e)). ####
(3)Small business act definitions The terms “small business concern”, “venture capital operating company”, “hedge fund”, and “private equity firm” have the meanings given those terms, respectively, in section 3 of the Small Business Act (15 U.S.C. 632). ## Subtitle H Other Matters
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