NAI Federal Charter bill
Frequently Asked Questions
What is a federally chartered organization?
Federally chartered organizations were designed to promote a public purpose by leveraging nonfederal partnerships and individuals. This honorific designation symbolizes a federal recognition of the significant national interests stemming from the mission, goals, and objectives of the organization.
Why should the NAI be granted a federal charter?
Currently, universities perform more than half of our nation’s basic research and more than 60% of that research is federally funded. It is in our national best interest for that research to be translated for the betterment of society into innovative products, processes, cures, and treatments. Federally recognizing the importance of the NAI will bolster the innovations, technologies, and new businesses spurred as research develops at universities and nonprofit research institutes, elevating their already dynamic role in our national economic development and our global competitiveness. Additionally, if granted a federal charter, the NAI is ready and well equipped with subject matter experts to provide advice to the federal government on innovation, intellectual property, translational research and commercialization.
What is the cost of this bill?
There is no cost associated with granting a federal charter to the National Academy of Inventors.
Are similar organizations distinguished as federally chartered organizations?
Yes. The National Academy of Sciences, whose charter was signed into law by President Abraham Lincoln in 1863, remains actively involved in advising the federal government on matters of science, engineering, and medicine.
Does Congress still designate organizations as federally chartered organizations?
Yes, however Congress has drastically limited the frequency with which it enacts charter legislation. Although no formal rule was adopted at the start of this Congress to ban charter legislation, it is the preference of the House Judiciary Committee to not move charter legislation. With enough Members of Congress co-spon-soring, it could be possible to bring the bill out of Committee and directly to the House.
If the NAI is granted a Federal Charter, what oversight role will the federal government have in the future?
The National Academy of Inventors would be required to submit a report to Congress on the activities of the preceding fiscal year, but the federal government would not take regulatory or oversight roles.