Bill > S1235

This bill directs the Director of the National Institute of Standards and Technology (NIST) to establish the Foundation for Standards and Metrology, a nonprofit organization designed to support NIST's mission of advancing measurement science, technical standards, and technology. The Foundation will focus on collaborating with researchers, universities, industry, and nonprofit organizations to accelerate the development of technical standards and commercialize emerging technologies. Key provisions include establishing a Board of Directors with 11 appointed voting members and ex officio nonvoting members, ensuring diverse representation from academia, private sector, and other stakeholders. The Foundation will have the authority to receive funds, conduct research, support international metrology efforts, offer fellowships and grants, and conduct education and outreach activities. Importantly, the Foundation will not be a federal government agency and will have its own governance structure, with an Executive Director responsible for daily operations. The bill requires the Foundation to submit an annual report, undergo financial audits, and develop strategic plans for becoming financially self-sustaining. The U.S. government will provide initial funding between $500,000 and $1,250,000 annually, but will not be liable for the Foundation's debts or actions. The ultimate goal is to enhance the United States' economic security and technological competitiveness through collaborative research and standards development.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/senate-bill/1235/all-info