Dual Credit Innovation Act This bill directs the Department of Education to annually recognize with a Dual Credit Innovation Award eligible partnerships between an institution of higher education (IHE) that provides a dual credit program and a local educational agency or high school. The bill defines dual credit program as a program offered by such a partnership through which a secondary school student who has not graduated from high school with a regular high school diploma is able to enroll in one or more postsecondary courses and earn postsecondary credit that (1) is transferable to the IHE in the partnership, and (2) applies toward completion of a degree or recognized educational credential.