The U.S. Senate Commerce Committee has approved a bill authorizing more than $2 billion over the next three years for nanotech research and development.

The 21st Century Nanotechnology Research and Development Act (S. 189) would “authorize a coordinated inter-agency program that will support long-term nanoscale research and development.”

The bill is also intended to assure “continued United States global leadership in nanotechnology” and the country’s productivity and industrial competitiveness, along with education and consideration of “philosophical, ethical, and other societal concerns.”

The bill is similar to one passed by the U.S. House of Representatives (HR 766) on May 8.