Bill > S2696

This bill establishes the Foundation for Enabling Biotechnology Innovation (FEBI), a nonprofit organization to be created by the National Science Foundation (NSF) aimed at accelerating biotechnology product commercialization in the United States. The Foundation's mission includes promoting public-private partnerships, convening stakeholders to develop expert recommendations, advancing collaboration between federal agencies and relevant organizations, supporting public engagement and education, facilitating market access for U.S. biotechnology products, and developing education and fellowship programs. The Foundation will be governed by a Board of Directors composed of at least 5 voting members from diverse sectors and ex officio non-voting members representing various federal agencies. The Board will appoint a Chief Executive Officer responsible for day-to-day operations and will be required to develop a strategic plan for becoming financially self-sustaining within five years. Key provisions ensure the Foundation's independence from the federal government, establish strict conflict of interest and integrity standards, and require annual reporting and financial audits. The bill authorizes $4 million in annual funding from the NSF and explicitly states that the United States government will not be liable for the Foundation's debts or actions. The Foundation is prohibited from regulating biotechnology products and must prioritize transparency, collaboration, and innovation in the biotechnology sector.

Health and Social Services

https://www.congress.gov/bill/119th-congress/senate-bill/2696/all-info