,i #aagth ,,congress #ast ,session ,h4 ,r4 #dccg ,,in ,,the ,,house ,,of ,,representatives ,july #a1 #bjba,mr4 ,austin ,scott of ,georgia 7for himself and ,ms4 ,plaskett7 introduced the following bill2 which was referred to the ,committee on ,agriculture ,a ,,bill ,to modernize the authority of the ,commodity ,futures ,trading ,commission to conduct research1 development1 demonstration1 and information programs4 #a4 ,short title ,this ,act may be cited as the ,commodity ,futures ,trading ,commission ,research and ,development ,modernization ,act4 #b4 ,modernization of authority of the ,commission to conduct research1 development1 demonstration1 and information programs ,section #ah of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #bb7 is amended to read as follows3 #ah4 ,research and development programs 7a7 ,programs ,the ,commission1 as part of its ongoing operations1 shall establish and maintain research1 development1 demonstration1 and information programs that further the purposes of this ,act1 including programs that-- 7#a7 facilitate the understanding by the ,commission of-- 7,a7 emerging technologies1 technological advances1 and innovations2 7,b7 with respect to those technologies1 technological advances1 and innovations1 the potential application to1 and effect on1 the transactions and markets under the jurisdiction of the ,commission2 7,c7 associated implications for cybersecurity1 data security1 and systemic risk2 and 7,d7 the economics of markets and market participants by the administration of this ,act2 7#b7 provide an environment where emerging technologies1 technological advances1 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 ,commission2 7#c7 identify areas where the ,commission should adapt its administration of this ,act in light of emerging technologies1 technological advances1 and innovations to benefit the markets under the jurisdiction of the ,commission2 and 7#d7 develop educational and other informational materials for dissemination and use among producers1 market-users1 and the general public regarding-- 7,a7 the activities1 products1 entities and markets regulated under this ,act2 7,b7 emerging technologies1 technological advances1 and innovations in markets under the jurisdiction of the ,commission2 and 7,c7 applicable requirements of this ,act and the regulations prescribed under this ,act with regard to the subjects described in subparagraphs 7,a7 and 7,b74 7b7 ,research and development plan 7#a7 ,in general ,the ,commission may1 after notice and comment1 adopt a research and development plan for a program established under subsection 7a74 7#b7 ,conditions ,a research and development plan adopted pursuant to paragraph 7#a7 shall identify-- 7,a7 specific areas of interest to the ,commission2 7,b7 potential activities the ,commission will undertake to investigate an area of interest2 and 7,c7 the means by which the authority described in subsection 7c7 will be used in the applicable program established under subsection 7a74 7c7 ,other transaction authority 7#a7 ,in general ,notwithstanding the full and open competition requirements under chapter #cc of title #da1 ,united ,states ,code1 the ,commission may enter into and perform a transaction 7other than a standard contract7 for the purpose of aiding or facilitating the programs and activities under subsection 7a74 7#b7 ,conditions ,the ,commission may enter into a transaction under this subsection only if-- 7,a7 the transaction is used only in furtherance of a research and development plan established under subsection 7b72 7,b7 the ,commission endeavors to use a competitive process1 where appropriate1 when determining the parties to the transaction2 and 7,c7 using a standard contract to do so is either not feasible or not appropriate4 7#c7 ,policies ,the ,commission shall1 after notice and comment1 establish and publish written policies setting forth the manner and criteria for utilizing the authority provided by this subsection4 7d7 ,acceptance of nonmonetary contributions for research and development programs1 projects1 and activities 7#a7 ,definition of covered nonmonetary contribution ,in this subsection1 the term covered nonmonetary contribution means a nonmonetary contribution of provision of access1 use of facilities1 personal property1 or services1 that is related to-- 7,a7 sharing of research1 data1 or other information2 7,b7 public presentations2 or 7,c7 non-commercially available services or systems4 7#b7 ,authorization ,the ,commission may accept and use1 on behalf of the ,united ,states and in accordance with this subsection1 any covered nonmonetary contribution4 7#c7 ,conditions 7,a7 ,in general ,a covered nonmonetary contribution may be accepted pursuant to this subsection only if the covered nonmonetary contribution is in furtherance of a research and development plan established under subsection 7b74 7,b7 ,limitations ,the ,commission may not accept a covered nonmonetary contribution if-- 7i7 conditions inconsistent with applicable laws or regulations apply to the covered nonmonetary contribution2 7ii7 the covered nonmonetary contribution is conditioned on1 or will require1 the expenditure of appropriated funds not available to the ,commission2 7iii7 using a standard contract or other transaction authority under subsection 7c7 to acquire the covered nonmonetary contribution is either feasible or appropriate2 or 7iv7 acceptance of the covered nonmonetary contribution would-- 7,i7 reflect unfavorably on the ability of the ,commission to carry out its responsibilities or official duties in a fair and objective manner2 7,,ii7 compromise the integrity or the appearance of the integrity of its programs or any official involved in its programs2 or 7,,iii7 give the endorsement or the appearance of the endorsement by the ,commission or ,commission staff of the products1 services1 activities1 or policies of the donor4 7,c7 ,solicitation prohibition 7i7 ,in general ,except as provided in clause 7ii71 a covered nonmonetary contribution may not be solicited by any ,commissioner1 employee of1 or contractor at the ,commission4 7ii7 ,exception ,a ,commissioner or employee of the ,commission may solicit only a covered nonmonetary contribution described in paragraph 7#a77;,b74 7,d7 ,duration ,to the extent applicable1 the ,commission shall return any covered nonmonetary contribution accepted pursuant to this subsection within #ij days after accepting the covered nonmonetary contribution4 7,e7 ,rules ,the ,commission shall1 after notice and comment1 establish and publish written rules setting forth the manner and criteria to be used in determining whether a covered nonmonetary contribution meets the conditions of this paragraph4 7#d7 ,disclosure ,within #cj days after accepting a covered nonmonetary contribution pursuant to this subsection1 the ,commission shall publish in the ,federal ,register a notice detailing-- 7,a7 the source of the covered nonmonetary contribution2 7,b7 the nature of the covered nonmonetary contribution2 7,c7 whether the covered nonmonetary contribution was solicited pursuant to paragraph 7#c77;,c77ii71 and if so1 by whom2 and 7,d7 the means by which the covered nonmonetary contribution meets the conditions set forth in paragraph 7#c74 7#e7 ,sunset ,the authority provided in this subsection may not be exercised on or after ,october #a1 #bjbe4 7e7 ,annual report ,not later than #fj days after the end of each fiscal year1 the ,commission shall submit to the ,committee on ,agriculture1 ,nutrition1 and ,forestry of the ,senate and the ,committee on ,agriculture of the ,house of ,representatives a report on all transactions entered into under subsection 7c7 and all covered nonmonetary contributions accepted under subsection 7d7 in the fiscal year1 which shall include the following3 7#a7 ,a brief description of the subject of each such transaction or covered nonmonetary contribution1 with an explanation of-- 7,a7 the potential utility of the transaction or covered nonmonetary contribution to the ,commission or the markets regulated by the ,commission2 7,b7 the means by which the transaction or covered nonmonetary contribution fulfills the goals and objectives of the research and development plan established under subsection 7b72 and 7,c7 the status of all related projects4 7#b7 ,the information required to be published pursuant to subsection 7d77#d74 7#c7 ,a description of all sums expended by the ,commission in connection with a transaction entered into under subsection 7c71 and1 if readily ascertainable1 the value of any covered nonmonetary contribution accepted under subsection 7d74 4