Sec. 118. Modernization of authority of the Commission to conduct research, development, demonstration, and information programs
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Section 18 of the Commodity Exchange Act ( 7 U.S.C. 22 ) is amended to read as follows: The Commission, as part of its ongoing operations, shall establish and maintain research, development, demonstration, and information programs that further the purposes of this Act, including programs that— facilitate the understanding by the Commission of emerging technologies, technological advances, and innovations and their potential application to and effect on the transactions and markets under the jurisdiction of the Commission, and associated implications for cybersecurity, data security, and systemic risk; provide an environment where emerging technologies, technological advances, and innovations may be explored by the Commission with developers and potential users to evaluate potential effects on the Commission and the markets under the jurisdiction of the Commission; identify areas where the Commission should adapt its administration of this Act in light of emerging technologies, technological advances, and innovations to benefit the markets under the jurisdiction of the Commission; and develop educational and other informational materials for dissemination and use among producers, market-users, and the general public regarding— derivatives; emerging technologies, technological advances, and innovations in markets under the jurisdiction of the Commission; and applicable requirements of this Act and the regulations prescribed under this Act with regard to the subjects described in subparagraphs
(A)and (B). The Commission may, after notice and comment, adopt a research and development plan for a program established under subsection (a). A research and development plan adopted pursuant to paragraph
(1)shall identify— specific areas of interest to the Commission; potential activities the Commission will undertake to investigate an area of interest; and how the authority described in subsection
(c)will be utilized in the program. Notwithstanding the Office of Federal Procurement Policy Act of 1974 and the Competition in Contracting Act, the Commission may enter into and perform a transaction (other than a standard contract) for the purpose of aiding or facilitating the programs and activities under subsection (a). The Commission may enter into a transaction under this subsection only if— the transaction is used only in furtherance of a research and development plan established under subsection (b); the Commission endeavored to use a competitive process, where appropriate, when determining the parties to the transaction; and using a standard contract to do so is either not feasible or not appropriate. The Commission shall, after notice and comment, establish and publish written policies setting forth the manner and criteria for utilizing the authority provided by this subsection. The Commission may accept and use, on behalf of the United States, any non-monetary gift of a provision of access, use of facilities, personal property, or services, that is related to— sharing of research, data, or other information; public presentations; or non-commercially available services or systems. A gift may be accepted pursuant to this subsection only if it is in furtherance of a research and development plan established under subsection (b). The Commission may not accept a gift if— conditions inconsistent with applicable laws or regulations apply to the gift; the gift is conditioned on, or will require, the expenditure of appropriated funds not available to the Commission; using a standard contract or other transaction authority under subsection
(c)to acquire the gift is either feasible or appropriate; or acceptance of the gift would— reflect unfavorably on the ability of the Commission to carry out its responsibilities or official duties in a fair and objective manner, or compromise the integrity or the appearance of the integrity of its programs or any official involved in its programs; or give the endorsement or the appearance of the endorsement by the Commission or Commission staff of the products, services, activities, or policies of the donor. Except as provided in clause (ii), no gift may be solicited by any Commissioner, employee of, or contractor at the Commission. A Commissioner or employee of the Commission may solicit only for a gift described in paragraph (1)(B). To the extent applicable, the Commission shall return any gift accepted pursuant to this subsection within 90 days after accepting the gift. The Commission shall, after notice and comment, establish and publish written rules setting forth the manner and criteria to be used in determining whether a gift meets the conditions of this paragraph. Within 30 days after accepting a gift pursuant to this subsection, the Commission shall publish in the Federal Register a notice detailing— the source of the gift; the nature of the gift; whether the gift was solicited pursuant to paragraph (2)(C)(ii), and if so, by whom; and how the gift meets the conditions set forth in paragraph (2). The authority provided in this subsection may not be exercised on or after October 1, 2025. Not later than 60 days after the end of each fiscal year, the Commission shall submit to the Committee on Agriculture, Nutrition, and Forestry of the Senate and the Committee on Agriculture of the House of Representatives a report on all transactions entered into under subsection
(c)and all gifts accepted under subsection
(d)in the fiscal year, which shall include the following: A brief description of the subject of each such transaction or gift, with an explanation of— its potential utility to the Commission or the markets regulated by the Commission; how it fulfills the goals and objectives of the research and development plan established under subsection (b); and the status of all related projects. The information required to be published pursuant to subsection (d)(3). A description of all sums expended by the Commission in connection with a transaction entered into under subsection (c), and, if readily ascertainable, the value of any gift accepted under subsection (d). .
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Sec. 118
Modernization of authority of the Commission to conduct research, development, demonstration, and information programs
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