Bill > HR2582

This bill establishes a new nonprofit organization called the Foundation for Standards and Metrology, which will be overseen by the National Institute of Standards and Technology (NIST). The foundation's primary mission is to support NIST's work in advancing measurement science, technical standards, and technology to enhance U.S. economic security and prosperity. The foundation will be governed by a Board of Directors composed of 11 appointed voting members from diverse sectors like academia, private industry, and nonprofit organizations, with the NIST Director serving as a non-voting ex officio member. The foundation can support international standards engagement, conduct research, advance collaboration between NIST and various organizations, support research infrastructure, help commercialize federally funded research, and provide direct support to NIST associates through fellowships, grants, and professional development. While closely aligned with NIST, the foundation will not be a federal government agency and will have the ability to receive and manage its own funds. The bill includes detailed provisions about the foundation's governance, including conflict of interest rules, board member selection, and reporting requirements. The foundation will be authorized to receive up to $1.25 million annually from NIST starting in fiscal year 2026, with the goal of becoming financially self-sustaining within five years.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2582/all-info