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H.R. 8673, Expanding Partnerships for Innovation and Competitiveness Act (CBO Report for Congress)

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Congress 118th
Date Requested June 13, 2024
Requested By House Committee on Science, Space, and Technology
Date Sent July 3, 2024
Description:
H.R. 8673 would require the National Institute of Standards and Technology (NIST) to establish a nonprofit corporation called the Foundation for Standards and Metrology. That nongovernmental foundation would support related research, help expand and improve NIST facilities, and advance the commercialization of federally funded research. Beginning in 2025, the bill would authorize NIST to transfer annually to the foundation between $500,000 and $1.25 million from amounts previously authorized to be appropriated to the agency under section 10211 of Public Law 117-167; that section authorized the appropriation of $2 billion for NIST for 2025, $2.2 billion for 2026, and $2.3 billion for 2027. Finally, H.R. 8673 would require the Government Accountability Office (GAO) to report to the Congress on the foundation’s operations no later than five years after the foundation is established.

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