S 5198

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IN THE SENATE OF THE UNITED STATES

July 30, 2026

Mr. Young (for himself and Mr. Coons) introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation

A BILL

To amend the Stevenson-Wydler Technology Innovation Act of 1980 to reauthorize the regional innovation program, 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 “Build to Scale Reauthorization Act of 2026”.

SEC. 2. REAUTHORIZATION OF REGIONAL INNOVATION PROGRAM.

(a) In General.—Section 27 of the Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 3722) is amended—

(1) in subsection (a)—

(A) in paragraph (2)—

(i) in subparagraph (E), by striking “and”;

(ii) in subparagraph (F), by striking the period and inserting “; and”; and

(iii) by adding at the end the following new subparagraph:

“(G) increase access to capital to invest in innovation-based business ventures in the geographic region.”; and

(B) by amending paragraph (4) to read as follows:

“(4) Venture development organization.—The term ‘venture development organization’ means a State or nonprofit organization that has a measured, geographically defined, economic development purpose within its core mission and contributes to regional or sector-based economic prosperity by providing the following:

“(A) Direct financing to private innovation- centered businesses.

“(B) Services to accelerate the commercialization of research.

“(C) Entrepreneurial support tailored to innovation-centered founders, start-ups, and businesses within the geographic areas of service of such founders, start-ups, and businesses, as the case may be.”;

(2) in subsection (b), by striking “strategies” and inserting “initiatives”;

(3) in subsection (c)—

(A) in paragraph (1)—

(i) by inserting “and subject to the availability of appropriations” after “pursuant to subsection (b)”; and

(ii) by striking “may” and inserting “shall”;

(B) by striking paragraph (4)(D);

(C) by amending paragraph (5) to read as follows:

“(5) Cost share.—The Federal share of the cost of any activity funded under this subsection shall not exceed 50 percent, plus an additional amount that—

“(A) shall not exceed 40 percent; and

“(B) is based on the relative needs of the area in which the activity at issue will be funded, as determined in accordance with regulations promulgated by the Secretary.”; and

(D) by amending paragraph (6) to read as follows:

“(6) Outreach.—The Secretary shall conduct outreach to encourage participation in regional innovative initiatives under this subsection by public and private sector entities—

“(A) in—

“(i) rural communities;

“(ii) communities negatively impacted by trade;

“(iii) areas with persistent economic distress; or

“(B) that agree to collaborate with local workforce investment area boards to carry out workforce or training related activities.”;

(4) in subsection (d)(4)—

(A) by amending the heading to read as follows: “Data sources”; and

(B) by inserting “and the Regional Technology and Innovation Hub Program under section 28” after “subsection (c)”;

(5) in subsection (e)—

(A) in paragraph (1), by striking “or at” and inserting “, the Department of Energy, the National Science Foundation, and”; and

(B) in paragraph (2)(A), by striking “strategies” and inserting “initiatives and activities carried out pursuant to subsection (d)”; and

(6) by amending subsection (h) to read as follows:

“(h) Funding.—

“(1) Use of unobligated funds.—Notwithstanding any other provision of law relating to the availability of funds to carry out this section, the Secretary may obligate and expend any amounts appropriated or otherwise available to carry out this section for any previous fiscal year that remains unobligated as of the date of the enactment of this subsection.

“(2) Future authority.—There is authorized to be appropriated to the Secretary to carry out this section $50,000,000 for each of fiscal years 2026 through 2030.”.

(b) Notice of Funding Opportunity.—Not later than 90 days after the date of the enactment of this Act, the Secretary of Commerce shall issue a notice of funding opportunity with respect to the regional innovation program established under section 27(b) of the Stevenson- Wydler Technology Innovation Act of 1980 (15 U.S.C. 3722(b)), as amended by subsection (a). <all>