Code · BILL · 116th Congress · H.R. 6253 (Introduced in House) — To expand certain securities exemptions to respond to COVID–19, to establish an X-prize for creating an effective COV... · Sec. 3

Sec. 3. COVID–19 X-prize

104 words·~1 min read·/bill/116/hr/6253/ih/section-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

If the Director of the Centers for Disease Control and Prevention or the Director of the National Institutes of Health determines that a person has created a vaccine for COVID–19 that cuts the incidence and mortality rate of COVID–19 by more than 50 percent and makes such vaccine widely available to the public at affordable rates, such Director shall report such determination to the President and the Secretary of the Treasury. If, after reviewing such report, the President agrees, the Secretary of the Treasury shall, without further appropriation and out of any amounts in the general fund not otherwise appropriated, pay such person $1,000,000,000.