,,ii #aaith ,,congress #ast ,session ,s4 #ahhh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bb1 #bjbe,mr4 ,graham 7for himself1 ,mr4 ,coons1 and ,mr4 ,boozman7 introduced the following bill2 which was read twice and referred to the ,committee on ,foreign ,relations ,a ,,bill ,to establish the ,united ,states ,foundation for ,international ,food ,security to leverage private sector investments in order to improve and scale economically viable agricultural production1 build food systems to mitigate food shock1 reduce malnutrition1 and drive economic growth1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,united ,states ,foundation for ,international ,food ,security ,act of #bjbe4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,sec4 #b4 ,definitions4,sec4 #c4 ,united ,states ,foundation for ,international ,food ,security4,sec4 #d4 ,governance of the ,foundation4,sec4 #e4 ,corporate powers and obligations of the ,foundation4,sec4 #f4 ,outcome-based funding1 safeguards1 and accountability4,sec4 #g4 ,ventures1 financing1 and grants4,sec4 #h4 ,prohibition of support in countries that support terrorism or violate human rights and of support for sanctioned persons4,sec4 #i4 ,annual report4,sec4 #aj4 ,authorization of appropriations4 #b4 ,definitions ,in this ,act1 the term appropriate congressional committees means-- 7#a7 the ,committee on ,foreign ,relations of the ,senate2 7#b7 the ,committee on ,agriculture1 ,nutrition1 and ,forestry of the ,senate2 7#c7 the ,committee on ,appropriations of the ,senate2 7#d7 the ,committee on ,foreign ,affairs of the ,house of ,representatives2 7#e7 the ,committee on ,agriculture of the ,house of ,representatives2 and 7#f7 the ,committee on ,appropriations of the ,house of ,representatives4 #c4 ,united ,states ,foundation for ,international ,food ,security 7a7 ,establishment 7#a7 ,finding ,congress finds that there has been established1 in the ,district of ,columbia1 a private1 nonprofit corporation1 which is known as the ,united ,states ,foundation for ,international ,food ,security 7referred to in this ,act as the 8,foundation071 which is not an agency or establishment of the ,united ,states ,government4 7#b7 ,savings provision ,nothing in this ,act may be construed as-- 7,a7 making the ,foundation an agency or establishment of the ,united ,states ,government2 or 7,b7 making any member of the ,board of ,directors of the ,foundation or any officer or employee of the ,foundation an employee of the ,united ,states4 7#c7 ,transfers or consolidation require act of congress ,neither the ,foundation nor any of its functions1 powers1 or duties may be transferred to1 or consolidated with1 any department1 agency1 or entity of the ,federal ,government absent an ,act of ,congress to such effect4 7#d7 ,tax-exempt status ,the ,board shall take all necessary and appropriate steps to ensure that the ,foundation is established as an organization described in subsection 7c7 of section #eja of the ,internal ,revenue ,code of #aihf1 which exempts the organization from taxation under subsection 7a7 of such section4 7b7 ,purposes ,the purposes of the ,foundation are-- 7#a7 to accelerate enduring1 primarily locally led agriculture investments that foster food security and resilience in the crop1 poultry1 aquaculture1 and livestock industries1 that focus on building economically resilient food systems by investing in-- 7,a7 financing for1 distribution of1 and training around key inputs required for increasing crop and animal productivity1 distribution1 and profits2 7,b7 infrastructure1 such as irrigation1 warehousing1 storage1 and food processing1 to improve food production and market access through better product quality and the prevention of food loss2 7,c7 applied agricultural research2 and 7,d7 economically viable technology deployment that reduces hunger and increases agriculture production or distribution methods2 7#b7 to prevent unnecessary or inefficient vetting processes1 due diligence1 project financing1 or evaluation reviews by seeking out partnerships and contracting with existing government and nongovernmental entities that have proven track records2 7#c7 to deploy and scale technology and innovation to accelerate food security and agricultural-led economic growth that reduces global hunger and malnutrition2 7#d7 to coordinate with the ,united ,states ,foundation for ,international ,conservation2 7#e7 to advance the national security interests of the ,united ,states2 7#f7 to complement international and government investment and technical assistance mechanisms1 such as those employed or managed by the ,united ,states ,international ,development ,finance ,corporation1 and ,united ,states ,government food security programs1 to jointly catalyze private and public sector engagement1 spur agricultural-led economic growth1 and strengthen local food and nutrition systems2 and 7#g7 to ensure the effective use of ,united ,states taxpayer dollars and the prioritization of ,united ,states foreign policy interests4 #d4 ,governance of the ,foundation 7a7 ,board of ,directors 7#a7 ,governance ,the ,foundation shall be governed by a voting ,board of ,directors 7referred to in this section as the ,board7 that-- 7,a7 shall not exceed #ae members2 and 7,b7 may consult with a nonvoting ,board of ,advisors when making decisions related to the ,foundation's work4 7#b7 ,qualifications ,individuals appointed to the ,board shall include individuals who are knowledgeable and experienced in matters relating to-- 7,a7 agricultural production1 livestock1 land management1 or forestry2 7,b7 agricultural economics1 business development1 technology deployment1 market access1 agribusinesses 7including food companies71 market access1 supply chains1 infrastructure1 or commodities groups2 7,c7 international finance and multilateral governance2 7,d7 outcome-based and impact funding concepts1 including the role of impact evaluations and data collection1 to measure the progress of ventures1 and innovative grantee or investee selection and funding structures2 7,e7 agricultural research and development2 or 7,f7 national security4 7#c7 ,limitation on political affiliation ,the ,directors of the ,board shall include members of both major political parties in a relatively equal number4 7#d7 ,chairperson ,a quorum of the voting ,directors of the ,board shall elect a ,chairperson1 who shall serve in such position for a #d-year term4 7#e7 ,voting ,all voting ,directors of the ,board shall have equal voting rights4 7#f7 ,terms2 vacancies 7,a7 ,terms ,the term of service of each ,director may not exceed #e years and is renewable for not more than #a additional #e-year term4 7,b7 ,vacancies ,any vacancy in the membership of the appointed ,directors of the ,board-- 7i7 shall be filled in accordance with the bylaws of the ,foundation2 7ii7 does not affect the power of the remaining appointed ,directors to execute the duties of the ,board2 and 7iii7 shall be filled by an individual selected in accordance with the bylaws of the ,board4 7#g7 ,quorum ,a majority of the current membership of the ,board shall constitute a quorum for the transaction of ,foundation business4 7#h7 ,meetings 7,a7 ,in general ,the ,board shall meet not less frequently than twice per year4 7,b7 ,authority ,the ,board shall maintain full control and decision-making authority of the ,foundation4 7,c7 ,removal ,any ,director may be removed from the ,board if-- 7i7 the ,director is absent from #b consecutive regularly scheduled meetings without reasonable cause2 or 7ii7 the ,board1 by a majority vote of the other ,board members1 determines that such ,director should be removed from the ,board4 7#i7 ,reimbursement of expenses ,directors of the ,board shall serve without pay1 but may be reimbursed for the actual and necessary traveling and subsistence expenses incurred by such members in the performance of their duties on behalf of the ,foundation4 7#aj7 ,not ,federal employees ,appointment as a ,director of the ,board shall not constitute employment by1 or the holding of an office of1 the ,united ,states ,government for purposes of any ,federal law4 7#aa7 ,duties ,the ,board shall-- 7,a7 establish bylaws for the ,foundation2 7,b7 provide overall direction for the activities of the ,foundation and establish priority activities2 7,c7 carry out any other necessary activities of the ,foundation2 7,d7 hire and evaluate the performance of the ,executive ,director of the ,foundation2 and 7,e7 take steps to limit the ,foundation's administrative expenses to the extent practicable and in accordance with industry standards4 7#ab7 ,bylaws ,the bylaws of the ,foundation shall require the ,board to establish-- 7,a7 policies for the selection of ,directors of the ,board1 ,members of the ,board of ,advisors1 and officers1 employees1 agents1 and contractors of the ,foundation2 7,b7 policies1 including ethical standards1 for-- 7i7 the acceptance1 solicitation1 and disposition of donations and grants to the ,foundation2 and 7ii7 the use and disposition of the assets of the ,foundation2 7,c7 policies that subject all employees1 fellows1 trainees1 and other agents of the ,foundation 7including all of the ,directors of the ,board and all of the ,members of the ,board of ,advisors7 to prevailing conflict of interest standards for the industry2 7,d7 the specific duties of the ,executive ,director of the ,foundation2 7,e7 policies for winding down the activities of the ,foundation upon termination1 including a plan-- 7i7 to return unobligated appropriations to the ,department of the ,treasury2 and 7ii7 to donate unspent private and philanthropic contributions to projects that align with the goals and requirements described in this ,act2 and 7,f7 specific policies and requirements governing project criteria1 measurable outcomes1 impact evaluations1 and country eligibility requirements4 7b7 ,board of ,advisors composition 7#a7 ,in general ,the nonvoting ,board of ,advisors may be composed of1 at a minimum-- 7,a7 members of the executive branch of the ,federal ,government from departments and agencies with expertise that would benefit the ,foundation2 7,b7 the ,secretary of ,state1 or the ,secretary's designee2 7,c7 the ,chief ,executive ,officer of the ,united ,states ,international ,development ,finance ,corporation1 or his or her designee2 and 7,d7 #b deans or other designated faculty members of ,united ,states land-grant colleges or universities that have an international agriculture program4 7#b7 ,duties ,the ,board of ,advisors shall provide advice and consultation to the ,board in accordance with the bylaws of the ,foundation4 7#c7 ,removal ,the ,board of ,directors may remove an ,advisor from the ,board of ,advisors by majority vote4 7c7 ,procedures 7#a7 ,initial meeting ,the ,board shall hold its initial meeting not later than #abj days after the date of the enactment of this ,act4 7#b7 ,organizing principles2 appointment of executive director ,the ,directors of the ,board shall name an ,executive ,director of the ,foundation not later than #abj days after the date of the initial meeting of the ,board4 7d7 ,executive ,director2 staff 7#a7 ,executive director ,the ,board shall hire a qualified individual to serve1 at the pleasure of the ,board1 as the ,executive ,director of the ,foundation4 7#b7 ,foundation staff ,officers and employees of the ,foundation-- 7,a7 may not be employees of1 or hold any office in1 the ,united ,states ,government2 7,b7 shall be appointed without regard to the provisions of-- 7i7 title #e1 ,united ,states ,code1 governing appointments in the competitive service2 and 7ii7 chapter #ea and subchapter ,,iii of chapter #ec of such title1 relating to classification and ,general ,schedule pay rates2 and 7,c7 shall receive a salary that is commensurate with the salaries of similar positions in similar foundations4 7e7 ,limitation2 conflicts of interests 7#a7 ,political participation ,the ,foundation may not participate or intervene in any political activities on behalf of any candidate for public office in any country4 7#b7 ,financial interests ,all ,directors of the ,board1 ,advisors1 officers1 and employees of the ,foundation are subject to industry standard conflicts of interest protocols set forth in the ,foundation bylaws4 #e4 ,corporate powers and obligations of the ,foundation 7a7 ,general authorities ,the ,foundation-- 7#a7 may conduct business throughout the ,states1 territories1 and possessions of the ,united ,states and in foreign countries2 7#b7 shall have its principal offices in the ,washington1 ,,dc1 metropolitan area2 and 7#c7 shall continuously maintain a designated agent in ,washington1 ,,dc1 who is authorized to accept notice or service of process on behalf of the ,foundation4 7b7 ,authorities ,in addition to powers explicitly authorized under this ,act1 the ,foundation1 in order to carry out the purposes described in section #c7;b71 shall have the usual powers of a corporation headquartered in ,washington1 ,,dc1 including the authority-- 7#a7 to accept1 receive1 solicit1 hold1 administer1 and use any gift1 devise1 or bequest1 either absolutely or in trust1 or real or personal property or any income derived from such gift or property1 or other interest in such gift or property2 7#b7 to acquire by donation1 gift1 devise1 purchase1 or exchange any real or personal property or interest in such property2 7#c7 unless otherwise required by the instrument of transfer1 to sell1 donate1 lease1 invest1 reinvest1 retain1 or otherwise dispose of any property or income derived from such property2 7#d7 to complain and defend itself in any court of competent jurisdiction 7except that the ,directors of the ,board shall not be personally liable1 except for gross negligence72 7#e7 to enter into legal arrangements with public agencies1 private organizations1 and persons and to make such payments as may be necessary to carry out the purposes of such contracts or arrangements2 and 7#f7 to engage in funding activities1 which may include structured or project financing1 grants1 equity 7provided that returns flow back to the ,foundation71 and concessional lending1 for eligible projects1 in accordance with section #g4 7c7 ,federal funds 7#a7 ,in general ,the ,foundation may-- 7,a7 hold ,federal funds made available1 but not immediately disbursed2 and 7,b7 use any interest or other investment income earned on such ,federal funds to carry out the purposes of the ,foundation under this ,act4 7#b7 ,limitation ,investments by the ,foundation made with ,federal funds may only be made in-- 7,a7 interest-bearing obligations of the ,united ,states2 or 7,b7 obligations guaranteed as to both principal and interest by the ,united ,states4 7d7 ,limitation of public liability ,the ,united ,states shall not be liable for any debts1 defaults1 acts1 or omissions of the ,foundation4 ,the ,federal ,government shall be held harmless from any damages or awards ordered by a court against the ,foundation4 #f4 ,outcome-based funding1 safeguards1 and accountability 7a7 ,outcome-,based funding 7#a7 ,in general ,the ,foundation shall establish a funding strategy that sets targets based on measurable outcomes to be improved in populations served through its investments1 including-- 7,a7 identifying and regularly reviewing any such outcomes that advance the purposes described in section #c7;b71 such as increased crop and animal productivity1 increased profit to farmers1 or decreased hunger rates2 and 7,b7 a portfolio1 multi-year1 approach to ,foundation investments in which the failure of any specific program to achieve target outcomes is acceptable if the overall portfolio of projects meets target outcomes4 7#b7 ,financing and evaluation process ,the ,foundation shall establish an efficient and streamlined financing and evaluation process that-- 7,a7 prioritizes the achievement of defined outcomes2 7,b7 assesses risk of corruption and employs a strategy to counter corruption2 7,c7 prioritizes funding ventures with partners that are primarily locally based or locally run organizations1 entities1 and businesses that-- 7i7 achieve such outcomes2 and 7ii7 demonstrate an ability to sustain the financed project2 and 7,d7 focuses venture evaluations on assessing such outcomes and minimizing unnecessary reporting on project activities4 7b7 ,accountability 7#a7 ,impact evaluations ,the achievement of venture outcomes shall be determined through impact evaluations that include a comparison group to determine any measured improvements that are attributable to the funded venture4 7#b7 ,methodology assessments ,foundation staff may assess the methodology used by grantees or investees that are already running impact evaluations to increase efficiency1 and such evaluations may be accepted in place of additional evaluations4 7#c7 ,dedicated funding ,any grantee or investee that lacks impact evaluation capacity may receive dedicated funding to support in-house evaluations or to contract with independent1 external evaluators4 7#d7 ,third-party evaluations ,the ,foundation may pay for third-party evaluations of any grantee's project to verify the results derived from an in-house evaluation4 7c7 ,safeguards ,the ,foundation shall develop1 and incorporate into any agreement for support provided by the ,foundation1 appropriate safeguards1 policies1 and guidelines1 consistent with internationally recognized best practices4 7d7 ,independent accountability mechanism ,the ,foundation shall establish or contract for a transparent and independent accountability mechanism1 consistent with best practices1 which shall provide-- 7#a7 a compliance review function that assesses whether ,foundation-supported ventures adhere to the requirements developed pursuant to subsection 7a72 7#b7 a dispute resolution function for resolving and remedying concerns between venture implementers regarding the impacts of specific ,foundation-supported ventures with respect to such standards2 and 7#c7 an advisory function that reports to the ,board regarding ventures1 policies1 and practices4 #g4 ,ventures1 financing1 and grants 7a7 ,venture funding requirements 7#a7 ,in general ,the ,foundation shall award funding1 which may include project financing1 credit risk insurance1 grants1 concessional lending1 or credit1 in accordance with this section1 for eligible projects described in paragraph 7#b7 that-- 7,a7 increase agricultural productivity and incomes2 and 7,b7 ensure food security is achieved and sustained1 while supporting farmers moving beyond subsistence agriculture to growing higher value crops that can be sold for profit4 7#b7 ,eligible ventures ,a venture qualifies as an eligible venture if the venture seeks-- 7,a7 to have cost matching from sources other than the ,united ,states ,government2 7,b7 to incorporate a set of key independently verified outcomes1 which shall be measured by rigorous impact evaluations1 such as measuring attributable increases in agricultural yields1 infrastructure1 or any other eligible use2 7,c7 to not substantially duplicate the work of other funders or institutions or displace current profit-making ventures2 7,d7 to leverage existing infrastructure and community-led development to allow for the immediate launch of ventures2 7,e7 to advance the national security interests of the ,united ,states2 7,f7 to demonstrate-- 7i7 the ability to financially and operationally maintain and build on the outcomes or mission of the venture after the ,foundation funding has ended2 or 7ii7 a plan to strengthen the capacity of1 and transfer skills and technologic tools to1 local enterprises1 organizations1 or institutions to manage projects and other funded entities after the ,foundation funding has been expended2 and 7,g7 to consider projects that meet the highest needs of food insecure populations based on food security1 agriculture1 and malnutrition assessments4 7b7 ,eligible countries for ventures ,before entering into any venture agreement pursuant to this section1 the ,board shall-- 7#a7 establish criteria to determine whether a country is eligible to receive funding for such a venture2 and 7#b7 identify ventures to receive support that-- 7,a7 advance the national security priorities of the ,united ,states2 7,b7 have demonstrated leadership to modernize the country's agricultural food systems1 in partnership with the private sector2 and 7,c7 are committed-- 7i7 to making policy reforms to help transform1 scale1 and build enduring food systems2 7ii7 to cofinancing and sustaining long-term projects implemented by the ,foundation2 and 7iii7 to collaborating with stakeholders-- 7,i7 to increase agricultural production and crop yields2 7,,ii7 to scale resilient food systems2 and 7,,iii7 to improve food safety1 processing1 logistics1 and supply chain processes for input and output markets4 7c7 ,funding authorized 7#a7 ,in general ,in order to maximize the impact of the funding authorized under this section1 the ,foundation should-- 7,a7 coordinate with other international public and private donors or investors and local organizations active in food security to the extent possible2 and 7,b7 seek additional financial and nonfinancial contributions and commitments for its projects from host governments and other organizations4 7#b7 ,funding criteria ,funding awarded pursuant to this section-- 7,a7 shall be provided to ventures that demonstrate progress1 during the funding period1 in achieving clearly identified performance indicators and outcomes defined in the project agreement1 which may include-- 7i7 increasing agricultural or food production through agriculture research and the competitive delivery of market-based financing1 distribution and extension services1 and supporting technology commercialization and adoption through such services2 7ii7 improving the nutritional status of intended beneficiaries by-- 7,i7 increasing the production1 availability1 and access of nutritious foods domestically2 7,,ii7 promoting highly nutritious foods1 diet diversification1 and nutritional behaviors that improve maternal and child health2 and 7,,iii7 supporting the expansion of producer market opportunities2 7iii7 building resilient food systems to help mitigate against future food shocks among vulnerable populations and households2 and 7iv7 identifying additional revenue sources or financing mechanisms to meet the recurring costs of ventures by serving as a conduit between institutional investors and the agribusiness sector2 and 7,b7 may be terminated if the ,board determines that the country receiving such funding-- 7i7 is not meeting applicable requirements under this ,act2 7ii7 is not making progress in achieving the key performance indicators described in the project agreement2 or 7iii7 is not advancing ,united ,states national security priorities4 #h4 ,prohibition of support in countries that support terrorism or violate human rights and of support for sanctioned persons 7a7 ,in general ,the ,foundation may not provide support for any government1 or any entity owned or controlled by a government1 if the ,secretary of ,state determines that such government-- 7#a7 has repeatedly provided support for acts of international terrorism1 as determined under-- 7,a7 section #aged7;c77#a77;,a77i7 of the ,export ,control ,reform ,act of #bjah 7#ej ,u4,s4,c4 #dhac7;c77#a77;,a77i772 7,b7 section #fbj;,a7a7 of the ,foreign ,assistance ,act of #aifa 7#bb ,u4,s4,c4 #bcga7;a772 7,c7 section #dj7;d7 of the ,arms ,export ,control ,act 7#bb ,u4,s4,c4 #bghj7;d772 or 7,d7 any other relevant provision of law2 7#b7 has repeatedly engaged with any organizations designated as foreign terrorist organizations by the ,secretary in accordance with section #bai of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aahi72 or 7#c7 has engaged in a consistent pattern of gross violations of human rights1 as determined under section #aaf7;a7 or #ejb;,b7a77#b7 of the ,foreign ,assistance ,act of #aifa 7#bb ,u4,s4,c4 #baean7a7 and #bcjd7;a77#b77 or any other relevant provision of law4 7b7 ,prohibition of support for sanctioned persons ,the ,foundation may not engage in any dealing prohibited under ,united ,states sanctions laws or regulations1 including dealings with persons on the list of specially designated persons and blocked persons maintained by the ,office of ,foreign ,assets ,control of the ,department of the ,treasury1 except to the extent otherwise authorized by the ,secretary of ,state or the ,secretary of the ,treasury4 7c7 ,waiver ,the ,president may waive the application of subsections 7a7 and 7b7 with respect to any government1 or any entity owned or controlled by a government1 by notifying the appropriate congressional committees of the intention to exercise such waiver not later than #de days before the waiver is scheduled to take effect4 #i4 ,annual report ,not later than #b years after the date of the enactment of this ,act1 and annually thereafter by ,march #cast of any year during which the ,foundation is operational1 the ,executive ,director of the ,foundation shall submit to the appropriate congressional committees a report that-- 7#a7 has been approved by the ,board of ,directors2 7#b7 contains the expectations of the year ahead2 and 7#c7 describes-- 7,a7 the goals of the ,foundation for the upcoming year1 including areas to increase operational efficiency and further advance ,united ,states policy objectives and national security2 7,b7 lessons learned and best practices developed through projects funded by the ,foundation during the prior fiscal year2 7,c7 a project-specific and a portfolio-level report describing-- 7i7 the progress achieved against key performance indicators and the outcomes described in section #f1 and 7ii7 how such progress will benefit the ,american taxpayer2 7,d7 an assessment of-- 7i7 whether the grant making and financing processes are effective and expeditious2 7ii7 how any necessary additional efficiencies can be built into future project selection2 and 7iii7 whether project evaluations are successfully measuring outcomes2 7,e7 how the funding and selected projects authorized under this ,act were publicized in the selected country to expand recognition for the ,united ,states2 and 7,f7 an annual financial report from an independent auditor4 #aj4 ,authorization of appropriations 7a7 ,in general ,using funds appropriated to the ,department of ,state to carry out chapter #d of part ,,ii of the ,foreign ,assistance ,act of #aifa 7#bb ,u4,s4,c4 #bcdf et seq471 the ,secretary of ,state is authorized to award an annual grant to the ,foundation to enable the ,foundation to carry out the purposes specified in section #c7;b74 7b7 ,cost matching requirement ,amounts authorized to be appropriated pursuant to subsection 7a7 shall be made available1 on a cost matching basis1 to the maximum extent practicable1 from sources other than the ,united ,states ,government4 7c7 ,consultation requirement ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary of ,state and the ,executive ,director of the ,foundation shall consult with the ,committee on ,appropriations of the ,senate1 the ,committee on ,foreign ,relations of the ,senate1 the ,committee on ,agriculture1 ,nutrition1 and ,forestry of the ,senate1 the ,committee on ,appropriations of the ,house of ,representatives1 the ,committee on ,agriculture of the ,house of ,representatives and the ,committee on ,foreign ,affairs of the ,house of ,representatives regarding the implementation of this ,act and the proposed activities of the ,foundation4 7d7 ,prohibition of use of grants for lobbying expenses ,no grant funds provided by the ,foundation pursuant to section #g may be used for any activity intended to influence legislation pending before ,congress4