SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Laboratory Technology 
Maturation Act of 2014''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) National laboratory.--The term ``National Laboratory'' 
        has the meaning given the term in section 2 of the Energy 
        Policy Act of 2005 (42 U.S.C. 15801).
            (2) Secretary.--The term ``Secretary'' means the Secretary 
        of Energy.
            (3) Small business concern.--The term ``small business 
        concern'' has the meaning given the term in section 3 of the 
        Small Business Act (15 U.S.C. 632).

SEC. 3. ESTABLISHMENT OF TECHNOLOGY MATURATION GRANT PROGRAM.

    (a) In General.--The Secretary shall establish the National 
Laboratory technology maturation program under which the Secretary 
shall make grants to National Laboratories for the purpose of 
increasing the successful transfer of technologies licensed from 
National Laboratories to small business concerns by providing a link 
between an innovative process or technology and a practical application 
with potential to be successful in commercial markets.
    (b) Application for Grant From the Secretary.--
            (1) In general.--Each National Laboratory that elects to 
        apply for a grant under subsection (a) shall submit an 
        application to the Secretary at such time, in such manner, and 
        containing such information as the Secretary may reasonably 
        require.
            (2) Contents.--In an application submitted under this 
        subsection, a National Laboratory shall describe how the 
        National Laboratory will--
                    (A) manage a technology maturation program;
                    (B) encourage small business concerns, with an 
                emphasis on businesses in the region in which the 
                National Laboratory is located, to participate in the 
                technology maturation program;
                    (C) select small business concerns and technologies 
                to participate in the technology maturation program 
                using a selection board (referred to in this section as 
                the ``selection board'') made up of technical and 
                business members, including venture capitalists and 
                investors; and
                    (D) measure the results of the program and the 
                return on investment, including--
                            (i) the number of technologies licensed to 
                        small business concerns;
                            (ii) the number of new small business 
                        concerns created;
                            (iii) the number of jobs created or 
                        retained;
                            (iv) sales of the licensed technologies;
                            (v) the change in average salaries paid by 
                        the participating small business concerns; and
                            (vi) any additional external investment 
                        attracted by participating small business 
                        concerns.
    (c) Maximum Grant.--The maximum amount of a grant received by a 
National Laboratory under subsection (a) shall be $5,000,000 for each 
fiscal year.
    (d) Vouchers to Small Business Concerns From National 
Laboratories.--
            (1) In general.--A National Laboratory receiving a grant 
        under subsection (a) shall use the grant funds to provide 
        vouchers to small business concerns that hold a technology 
        license from a National Laboratory to pay the cost of providing 
        assistance from scientists and engineers at the National 
        Laboratory to assist in the development of the licensed 
        technology and further develop related products and services 
        until the products and services are market-ready or 
        sufficiently developed to attract private investment.
            (2) Use of voucher funds.--A small business concern 
        receiving a voucher under paragraph (1) may use the voucher--
                    (A) to gain access to special equipment or 
                facilities at the National Laboratory that awarded the 
                voucher;
                    (B) to partner with the National Laboratory on a 
                commercial prototype; and
                    (C) to perform early-stage feasibility or later-
                stage field testing.
            (3) Eligible projects.--A National Laboratory receiving a 
        grant under subsection (a) may provide a voucher to small 
        business concerns and partnerships between a small business 
        concern and an institution of higher education (as defined in 
        section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 
        1001(a))) for projects--
                    (A) involving--
                            (i) commercial prototypes;
                            (ii) scale-up and field demonstrations; or
                            (iii) other activities that move the 
                        technology closer to successful 
                        commercialization; and
                    (B) that do not exceed 1 year.
            (4) Application for voucher from national laboratory.--Each 
        small business concern that holds a technology license from a 
        National Laboratory that elects to apply for a voucher under 
        paragraph (1) shall submit an application to the selection 
        board at such time, in such manner, and containing such 
        information as the selection board may reasonably require.
            (5) Criteria.--The selection board may award vouchers based 
        on--
                    (A) the technological and commercial viability of 
                the project for commercial success;
                    (B) a significant opportunity for new company 
                formation or growth of an existing company in the 
                region in which the National Laboratory is located;
                    (C) access to a strong, experienced business and 
                technical team;
                    (D) clear, market-driven milestones for the project 
                that connect to an ability to leverage matching funds 
                from other sources;
                    (E) a clear path for commercialization;
                    (F) identification of a profitable market;
                    (G) the potential to enhance the technology-driven 
                economy of the region in which the National Laboratory 
                is located;
                    (H) availability and source of matching funds for 
                the project; and
                    (I) compatibility with the mission of the National 
                Laboratory.
            (6) Maximum voucher.--The maximum amount of a voucher 
        received by a small business concern under paragraph (1) shall 
        be $250,000.
            (7) Progress tracking.--
                    (A) In general.--The National Laboratory that 
                awards a voucher to carry out a project under paragraph 
                (1) shall establish a procedure to monitor interim 
                progress of the project toward commercialization 
                milestones.
                    (B) Termination of voucher.--If the National 
                Laboratory determines that a project is not making 
                adequate progress toward commercialization milestones 
                under the procedure established pursuant to 
                subparagraph (A), the project shall not continue to 
                receive funding or assistance under this subsection.

SEC. 4. ANNUAL REPORT.

    (a) In General.--Each National Laboratory receiving a grant under 
section 3 shall submit to the Secretary an annual report, at such time 
and in such manner as the Secretary may reasonably require.
    (b) Contents of Report.--The report submitted under subsection (a) 
shall--
            (1) include a list of each recipient of a voucher and the 
        amount of each voucher awarded; and
            (2) provide an estimate of the return on investment, 
        including--
                    (A) the number of technologies licensed to small 
                business concerns;
                    (B) the number of new small business concerns 
                created;
                    (C) the number of jobs created or retained;
                    (D) sales of the licensed technologies;
                    (E) the change in average salaries paid by the 
                participating small business concerns; and
                    (F) any additional external investment attracted by 
                participating small business concerns.

SEC. 5. FINAL REPORT.

    Not later than 5 years after the date of enactment of this Act, the 
Secretary shall submit to the Committees on Armed Services and Energy 
and Natural Resources of the Senate and the Committees on Armed 
Services and Science, Space, and Technology of the House of 
Representatives a report on the results of the program established 
under section 3, including--
            (1) the return on investment; and
            (2) any recommendations for improvements to the program.

SEC. 6. AUTHORIZATION OF APPROPRIATIONS.

    There is authorized to be appropriated to carry out this Act 
$25,000,000 for each of fiscal years 2015 through 2019.
National Laboratory Technology Maturation Act of 2014 - Requires the Secretary of Energy (DOE) to establish the National Laboratory technology maturation program to make grants of up to $5 million per fiscal year to National Laboratories to increase the successful transfer of technologies licensed from National Laboratories to small businesses by providing a link between an innovative process or technology and a practical application with potential to be successful in commercial markets. Requires grant recipients to use the funds to provide vouchers of up to $250,000 each to small businesses that hold a technology license from a National Laboratory to pay the cost of providing assistance from its scientists and engineers to assist in the development of the licensed technology and further develop related products and services until they are market-ready or sufficiently developed to attract private investment. Requires a National Laboratory that awards a voucher to carry out such a project to: (1) establish a procedure to monitor interim progress of the project toward commercialization milestones, and (2) discontinue providing such funding or assistance if it determines that a project is not making adequate progress toward such milestones under the procedure.
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