H. R. 2272—146 
and managed by such institution of higher education or nonprofit 
organization and sustained through private funding. The study 
shall examine how such program can— 
(1) build on existing online programs, including making 
use of existing online courses; 
(2) modify or expand traditional course content for online 
educational content; 
(3) develop original course content for online courses and 
degree programs; 
(4) provide necessary laboratory experience for science, 
technology, and engineering courses; 
(5) be accepted for full credit by other institutions of higher 
education; and 
(6) provide credentials that would be recognized by 
employers, enabling program participants to attain employ-
ment. 
(b) AUTHORIZATION OF APPROPRIATIONS.—There are authorized 
to be appropriated to carry out this section such sums as may 
be necessary for fiscal year 2008. 
SEC. 8006. SENSE OF THE SENATE REGARDING DEEMED EXPORTS. 
It is the sense of the Senate that— 
(1) the policies of the United States Government relating 
to deemed exports should safeguard the national security of 
the United States and protect fundamental research; 
(2) the Department of Commerce has established the 
Deemed Export Advisory Committee to develop recommenda-
tions for improving current controls on deemed exports; and 
(3) the President and Congress should consider the rec-
ommendations of the Deemed Export Advisory Committee in 
the development and implementation of export control policies. 
SEC. 8007. SENSE OF THE SENATE REGARDING CAPITAL MARKETS. 
It is the sense of the Senate that— 
(1) Congress, the President, regulators, industry leaders, 
and other stakeholders should take the necessary steps to 
reclaim the preeminent position of the United States in the 
global financial services marketplace; 
(2) the Federal and State financial regulatory agencies 
should, to the maximum extent possible— 
(A) coordinate activities on significant policy matters, 
so as not to impose regulations that may have adverse 
unintended consequences on innovativeness with respect 
to financial products, instruments, and services, or that 
impose regulatory costs that are disproportionate to their 
benefits; and 
(B) at the same time, ensure that the regulatory frame-
work overseeing the United States capital markets con-
tinues to promote and protect the interests of investors 
in those markets; and 
(3) given the complexity of the financial services market-
place, Congress should exercise vigorous oversight over Federal 
regulatory and statutory requirements affecting the financial 
services industry and consumers, with the goal of eliminating 
excessive regulation and problematic implementation of existing 
laws and regulations, while ensuring that necessary investor 
protections are not compromised.
H. R. 2272—147 
SEC. 8008. ACCOUNTABILITY AND TRANSPARENCY OF ACTIVITIES 
AUTHORIZED BY THIS ACT. 
(a) PROHIBITED USE OF FUNDS.—A grant or contract funded 
by amounts authorized by this Act may not be used for the purpose 
of defraying the costs of a banquet or conference that is not directly 
and programmatically related to the purpose for which the grant 
or contract was awarded. A directly and programmatically related 
banquet or conference includes a banquet or conference held in 
connection with planning, training, assessment, review, or other 
routine purposes related to a project funded by the grant or contract. 
Records of the total costs related to, and justifications for, all 
banquets and conferences shall be reported to the appropriate 
Department, Administration, or Foundation. Not later than 60 days 
after receipt of such records, the appropriate Department, Adminis-
tration, or Foundation shall make the records available to the 
public. 
(b) CONFLICT OF INTEREST STATEMENT.—Any person awarded 
a grant or contract funded by amounts authorized by this Act 
shall submit a statement to the Secretary of Commerce, the Sec-
retary of Energy, the Secretary of Education, the Administrator, 
or the Director, as appropriate, certifying that no funds derived 
from the grant or contract will be made available through a sub-
contract or in any other manner to another person who has a 
financial interest or other conflict of interest in the person awarded 
the grant or contract, unless such conflict is previously disclosed 
and approved in the process of entering into a contract or awarding 
a grant. Not later than 60 days after receipt of the certification, 
the appropriate Secretary, Administrator, or Director shall make 
all documents received that relate to the certification available 
to the public. 
(c) APPLICATION TO FEDERAL GRANTS AND CONTRACTS.—Sub-
sections (a) and (b) shall take effect 360 days after the date of 
enactment of this Act. 
(d) EXCEPTION.—Subsections (a) and (b) shall not apply to 
grants or contracts authorized under sections 6201 and 6203. 
Speaker of the House of Representatives. 
Vice President of the United States and
President of the Senate.