Sec. 2. 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— the activities, products, entities, and markets regulated under or subject to the requirements of this Act; emerging technologies, technological advances, and innovations in commodity or financial markets; 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, by rule or by order, 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 the means by which the authority described in subsection
(c)will be used in the applicable program established under subsection (a). Notwithstanding the Office of Federal Procurement Policy Act of 1974 and the Competition in Contracting Act, the Commission may enter into a transaction (other than a 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 contract to do so is either not feasible or not appropriate. The Commission shall 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 and in accordance with this subsection, any covered non-monetary contribution. A covered non-monetary contribution may be accepted pursuant to this subsection only if it is in furtherance of a research and development plan adopted under subsection (b). The Commission (including any Commissioner, employee, or contractor) may not solicit or accept a covered non-monetary contribution if— conditions inconsistent with applicable laws or regulations apply to the covered non-monetary contribution; the covered non-monetary contribution is conditioned on, or will require, the expenditure of appropriated funds not available to the Commission; using a contract or other transaction authority under subsection
(c)to acquire the covered non-monetary contribution is either feasible or appropriate; or the solicitation or acceptance of the covered non-monetary contribution 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 person providing the covered non-monetary contribution. To the extent applicable, the Commission shall return any covered non-monetary contribution accepted pursuant to this subsection as soon as practicable after the purpose for accepting the covered non-monetary contribution has been met. The Commission shall, by rule or by order, establish and publish written requirements setting forth the manner and criteria to be used in determining whether a covered non-monetary contribution meets the conditions of this paragraph. Within 14 days of agreeing to accept a covered non-monetary contribution pursuant to this subsection, the Commission shall provide notice and details of such agreement to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate. In this subsection, the term covered non-monetary contribution means a non-monetary contribution of provision of access, use of facilities, personal property, or services that is related to— sharing of research, data, or other information; public presentations; or noncommercially available services or systems. The authority provided in this subsection may not be exercised on or after October 1, 2031. 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 covered non-monetary contributions accepted under subsection
(d)in the fiscal year, which shall include the following: A brief description of the subject of each such transaction or covered non-monetary contribution, 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. With respect to each covered non-monetary contribution, a description of— the source of the covered non-monetary contribution; the nature of the covered non-monetary contribution; and how the covered non-monetary contribution meets the conditions set forth in subsection (d)(2). 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 covered non-monetary contribution accepted under subsection (d). .
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Sec. 2
Modernization of authority of the Commission to conduct research, development, demonstration, and information programs
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