Page:United States Statutes at Large Volume 121.djvu/617

 121 STAT. 596

PUBLIC LAW 110–69—AUG. 9, 2007

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‘‘(A) IN GENERAL.—The TIP Advisory Board shall consist of 10 members appointed by the Director, at least 7 of whom shall be from United States industry, chosen to reflect the wide diversity of technical disciplines and industrial sectors represented in Technology Innovation Program projects. No member shall be an employee of the Federal Government. ‘‘(B) TERM.—Except as provided in subparagraph (C) or (D), the term of office of each member of the TIP Advisory Board shall be 3 years. ‘‘(C) CLASSES.—The original members of the TIP Advisory Board shall be appointed to 3 classes. One class of 3 members shall have an initial term of 1 year, one class of 3 members shall have an initial term of 2 years, and one class of 4 members shall have an initial term of 3 years. ‘‘(D) VACANCIES.—Any member appointed to fill a vacancy occurring prior to the expiration of the term for which his predecessor was appointed shall be appointed for the remainder of such term. ‘‘(E) SERVING CONSECUTIVE TERMS.—Any person who has completed 2 consecutive full terms of service on the TIP Advisory Board shall thereafter be ineligible for appointment during the 1-year period following the expiration of the second such term. ‘‘(3) PURPOSE.—The TIP Advisory Board shall meet not less than 2 times annually, and provide the Director— ‘‘(A) advice on programs, plans, and policies of the Technology Innovation Program; ‘‘(B) reviews of the Technology Innovation Program’s efforts to accelerate the research and development of challenging, high-risk, high-reward technologies in areas of critical national need; ‘‘(C) reports on the general health of the program and its effectiveness in achieving its legislatively mandated mission; and ‘‘(D) guidance on investment areas that are appropriate for Technology Innovation Program funding; ‘‘(4) ADVISORY CAPACITY.—In discharging its duties under this subsection, the TIP Advisory Board shall function solely in an advisory capacity, in accordance with the Federal Advisory Committee Act. ‘‘(5) ANNUAL REPORT.—The TIP Advisory Board shall transmit an annual report to the Secretary for transmittal to the Congress not later than 30 days after the submission to Congress of the President’s annual budget request in each year. Such report shall address the status of the Technology Innovation Program and comment on the relevant sections of the programmatic planning document and updates thereto transmitted to Congress by the Director under subsections (c) and (d) of section 23. ‘‘(l) DEFINITIONS.—In this section— ‘‘(1) the term ‘eligible company’ means a small-sized or medium-sized business that is incorporated in the United States and does a majority of its business in the United States, and that either—

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