The crux of the proposal is to create a second Deputy Director to head this new well-funded Directorate for Technology. Would be authorized at $2 billion in FY 2021 (on top of an $8+ billion current NSF budget) and $100 billion total over the next five years.
Two important caveats re: funding. First, bill requires flat real funding (so, last year's $$ plus inflation) for the rest of NSF to allow the new directorate to receive an appropriation. Basically, legislators can't raid the rest of NSF to fund the new office.

(4/x)
Second, the new directorate can allocate funds to the other research directorates in NSF, to the education & workforce directorate (EHR), and to other research agencies, to achieve its functions.

(5/x)
The bill sets out 10 technology areas as initial focus: AI, advanced computing, quantum, robotics, disaster prevention, advanced communications, biotech, cybersecurity, data storage and mgmt, energy, and materials. These are to be periodically revised by advisory cmte.
The actual work (via university and consortia) will include a mix of fundamental research, education and training, and regional commercialization and entrepreneurship - including through a newly-established test bed program.

(8/x)
One of the really interesting aspects of this is the new directorate is explicitly intended to operate more like DARPA under a "strong manager" model. Rather different from traditional NSF operation. #science #scipol

(9/x)
I think those are the major NSF elements. Bill also makes some changes to EDA's Regional Innovation Program and requires OSTP to develop an annual innovation strategy.

Will be interesting to see how this fares! (11/11)
Re: the other half of the bill focusing on EDA: https://twitter.com/ProfDavidHart/status/1263885748664700928 #innovation
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