S2194-119

2. Intelligence Community Technology Bridge Fund In this section: The term congressional intelligence committees has the meaning given such term in section 3 of the National Security Act of 1947 (50 U.S.C. 3003). The term intelligence community has the meaning given such term in such section. The term nonprofit organization means an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986 and that is exempt from tax under section 501(a) of such Code. There is established in the Treasury of the United States a fund to be known as the Intelligence Community Technology Bridge Fund (in this subsection referred to as the Fund) to assist in the transitioning of products or services from the research and development phase to the prototype or production phase. The Fund shall consist of amounts appropriated to the Fund, and amounts in the Fund shall remain available until expended. Subject to paragraph (3), amounts in the Fund shall be available to the Director of National Intelligence to make available to the heads of the elements of the intelligence community to provide assistance to a business or nonprofit organization that is transitioning a product or service to the prototype or production phase as a means of advancing government acquisitions of the product or service. Assistance provided under paragraph (1) may be distributed as funds in the form of a grant, a payment for a product or service, or a payment for equity. Assistance may be provided under paragraph (1) to a business or nonprofit organization that is transitioning a product or service only if— the business or nonprofit organization is under contract, agreement, or other engagement with an element of the intelligence community for research and development; and the Director of National Intelligence or the head of an element of the intelligence community attests that the product or service will be utilized by an element of the intelligence community for a mission need, such as because it would be valuable in addressing a needed capability, fill or complement a technology gap, or increase the supplier base or price-competitiveness for the Federal Government. In providing assistance under paragraph (1), the Director shall limit the provision of assistance to small business concerns (as defined under section 3(a) of the Small Business Act (15 U.S.C. 632(a))) and nontraditional defense contractors (as defined in section 3014 of title 10, United States Code). The Fund shall be administered by the Director of National Intelligence. In administering the Fund, the Director— shall consult with the heads of the elements of the intelligence community; and may consult with the Defense Advanced Research Projects Agency, Intelligence Advanced Research Projects Activity, National Laboratories intelligence community laboratories, the North Atlantic Treaty Organization Investment Fund, the Defense Innovation Unit, and such other entities as the Director deems appropriate. Not later than September 30, 2026, and each fiscal year thereafter, the Director shall submit to the congressional intelligence committees a report on the Fund. Each report submitted pursuant to paragraph (1) shall include, for the period covered by the report, information about the following: How much was expended or obligated using amounts from the Fund. For what the amounts were expended or obligated. The effects of such expenditures and obligations. A summary of annual transition activities and outcomes of such activities for the intelligence community. Subject to paragraph (2), there is authorized to be appropriated to the Fund $75,000,000 for fiscal year 2026 and for each fiscal year thereafter. The amount in the Fund shall not exceed $75,000,000 at any time.