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Code · BILL · 113th Congress · S. 627 (Introduced in Senate) — To provide incentives for investment in research and development for new medicines, to enhance access to new medicine... · Sec. 8

Sec. 8. Powers and duties of the Board

349 words·~2 min read·/bill/113/s/627/is/section-8

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The Board shall— award prize payments for medical innovation in accordance with this Act; and submit a report to the Congress under section 16. The Board may, for the purpose of carrying out this Act, hold hearings, sit and act at times and places, take testimony, and receive evidence as the Board considers appropriate. Not later than 30 days after the initial members of the Board are appointed under section 7(b)(5) and confirmed, the Board shall conduct its first meeting. Not later than 1 year after the initial members of the Board are appointed under section 7(b)(5) and confirmed, the Board shall establish such policies and procedures as may be appropriate to carry out this Act.
The policies and procedures of the Board shall require that any determination of the Board be made by not less than a majority vote of the members of the Board. The policies and procedures of the Board shall comply with subchapter II of chapter 5 of title 5, United States Code. The policies and procedures of the Board shall— comply with sections 552 and 552b of title 5, United States Code (commonly referred to as the Freedom of Information Act and the Government in the Sunshine Act , respectively); and ensure that the proceedings and deliberations of the Board are transparent and are supported by a description of the methods, data sources, assumptions, outcomes, and related information that will allow the public to understand how the Board reaches its criteria-setting and award decisions.
To assist the Board in carrying out this Act, the Board shall establish independent expert advisory committees, including committees on the following: Economic evaluation of therapeutic benefits. Business models and incentive structures for innovation. Research and development priorities. Orphan diseases. Financial control and auditing. Open source biomedical science. Any member or agent of the Board may, if authorized by the Board, take any action which the Board is authorized to take under this Act.
The Board may use the United States mails in the same manner and under the same conditions as other departments and agencies of the United States.
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