Energy Innovation Fund

(a) Establishment There is established in the Treasury of the United States a fund, to be known as the Energy Innovation Fund, consisting of— (1) such amounts as are deposited in the fund under section 722(j) and 752 of the Clean Air Act; and (2) such additional amounts as may be appropriated to supplement the fund. (b) Expenditures from Fund (1) In general Beginning in fiscal year 2027, amounts deposited in the fund pursuant to subsection (a) shall be available to the Secretary of Energy without subsequent appropriation and shall remain available without fiscal year limitation until expended to provide assistance pursuant to subsection (c). (2) Administrative expenses The Secretary of Energy may use not more than 5 percent of the amount available in the Energy Innovation Fund on October 1 of each fiscal year to cover the administrative expenses of carrying out this section for that fiscal year. (c) Use of funds The Secretary of Energy shall provide assistance under this section, distributed on a competitive basis, to local, State, and Tribal governments, institutions of higher education, companies, research foundations, trade and industry research collaborations, or consortia of such entities, or other appropriate research and development entities to support research, development, and demonstration of technology that the Secretary determines supports achievement of the goal established by section 702 of the Clean Air Act, including through targeted acceleration of— (1) novel early-stage clean energy research; (2) development of techniques, processes, and technologies, and related testing and evaluation; (3) development of manufacturing processes for clean energy technologies; and (4) demonstration for commercial applications of clean energy technologies. (d) Supplement not supplant Assistance provided under this section shall be used to supplement, and not to supplant, any other Federal resources available to carry out the activities described in this section. (e) Report to Congress Not later than 3 years after the date of enactment of this Act, and each year thereafter, the Secretary of Energy shall submit to Congress and make available to the public a report that describes the activities funded by the Energy Innovation Fund.