To establish the American Innovation Bank, to improve science and technology job training, to authorize grants for curriculum development, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``America Innovates Act of 2012''.
TITLE I--AMERICAN INNOVATION BANK
SEC. 101. ESTABLISHMENT OF THE AMERICAN INNOVATION BANK.
(a) Establishment.--There is established in the Executive Branch of the Government an independent agency to be known as the American Innovation Bank (referred to in this title as the ``Bank''). (b) Board and Director.-- (1) In general.--The Bank shall consist of an American Innovation Board (referred to in this title as the ``Board'') and a Director of the American Innovation Bank (referred to in this title as the ``Director''). (2) Appointment.--The Director and members of the Board shall be appointed by the President, by and with the advice and consent of the Senate. (3) Duties of the board.--The Board shall-- (A) advise the Director on new and emerging areas of research and industry that would benefit from investment from the Bank; and (B) critically evaluate the success of the Bank's investments in helping to commercialize scientific discoveries and create new companies and jobs.
SEC. 102. FUNCTIONS OF THE BANK.
(a) In General.--The Bank is authorized and directed to promote the commercialization of science and engineering discoveries. (b) Provision of Grants, Loans, and Other Assistance.--The Bank shall provide grants, loans, and...