,i #aaith ,,congress #ast ,session ,h4 ,r4 #feih ,,in ,,the ,,house ,,of ,,representatives ,december #aj1 #bjbe,mr4 ,austin ,scott of ,georgia 7for himself and ,ms4 ,mc,donald ,rivet7 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 ,act of #bjbe4 #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 emerging technologies1 technological advances1 and innovations and their potential application to and effect on the transactions and markets under the jurisdiction of the ,commission1 and associated implications for cybersecurity1 data security1 and systemic risk2 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 entities1 and markets regulated under or subject to the requirements of this ,act2 7,b7 emerging technologies1 technological advances1 and innovations in commodity or financial markets2 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 by rule or by order1 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 ,office of ,federal ,procurement ,policy ,act of #aigd and the ,competition in ,contracting ,act1 the ,commission may enter into a transaction 7other than a 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 endeavored to use a competitive process1 where appropriate1 when determining the parties to the transaction2 and 7,c7 using a contract to do so is either not feasible or not appropriate4 7#c7 ,policies ,the ,commission shall establish and publish written policies setting forth the manner and criteria for utilizing the authority provided by this subsection4 7d7 ,acceptance of non-,monetary contributions for research and development programs1 projects1 and activities 7#a7 ,authorization ,the ,commission may accept and use1 on behalf of the ,united ,states and in accordance with this subsection1 any covered non-monetary contribution4 7#b7 ,conditions 7,a7 ,in general ,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 7b74 7,b7 ,limitations on solicitation and acceptance ,the ,commission 7including any ,commissioner1 employee1 or contractor7 may not solicit or accept a covered non-monetary contribution if-- 7i7 conditions inconsistent with applicable laws or regulations apply to the covered non-monetary contribution2 7ii7 the covered non-monetary contribution is conditioned on1 or will require1 the expenditure of appropriated funds not available to the ,commission2 7iii7 using a contract or other transaction authority under subsection 7c7 to acquire the covered non-monetary contribution is either feasible or appropriate2 or 7iv7 the solicitation or acceptance of the covered non-monetary 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 manner1 or compromise the integrity or the appearance of the integrity of its programs or any official involved in its programs2 or 7,,ii7 give the endorsement or the appearance of the endorsement by the ,commission or ,commission staff of the products1 services1 activities1 or policies of the person providing the covered non-monetary contribution4 7,c7 ,duration ,to the extent applicable1 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 met4 7,d7 ,requirements ,the ,commission shall1 by rule or by order1 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 paragraph4 7#c7 ,disclosure ,within #ad days of agreeing to accept a covered non-monetary contribution pursuant to this subsection1 the ,commission shall provide notice and details of such agreement to the ,committee on ,agriculture of the ,house of ,representatives and the ,committee on ,agriculture1 ,nutrition1 and ,forestry of the ,senate4 7#d7 ,definition of covered non-monetary contribution ,in this subsection1 the term covered non-monetary contribution means a non-monetary contribution of provision of access1 use of facilities1 personal property1 or services that is related to-- 7,a7 sharing of research1 data1 or other information2 7,b7 public presentations2 or 7,c7 noncommercially available services or systems4 7#e7 ,sunset ,the authority provided in this subsection may not be exercised on or after ,october #a1 #bjca4 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 non-monetary 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 non-monetary contribution1 with an explanation of-- 7,a7 its potential utility to the ,commission or the markets regulated by the ,commission2 7,b7 how it 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 ,with respect to each covered non-monetary contribution1 a description of-- 7,a7 the source of the covered non-monetary contribution2 7,b7 the nature of the covered non-monetary contribution2 and 7,c7 how the covered non-monetary contribution meets the conditions set forth in subsection 7d77#b74 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 non-monetary contribution accepted under subsection 7d74 4