(2) PUBLIC AVAILABILITY.—The Director shall 
make the information submitted under paragraph 
(1) publicly available on a website. 
(c) COVERED AGENCY DEFINED.—In this section, 
the term ‘‘covered agency’’ means each agency listed in 
section 901(b) of title 31, United States Code. 
SEC. 4. ESTABLISHMENT OF TECHNOLOGY MODERNIZA-
TION FUND AND BOARD. 
(a) TECHNOLOGY MODERNIZATION FUND.— 
(1) ESTABLISHMENT.—There is established in 
the Treasury a Technology Modernization Fund (in 
this section referred to as the ‘‘Fund’’) for tech-
nology-related activities, to improve information 
technology, to enhance cybersecurity across the Fed-
eral Government, and to be administered in accord-
ance with guidance issued by the Director. 
(2) ADMINISTRATION OF FUND.—The Commis-
sioner of the Technology Transformation Service of 
the General Services Administration, in consultation 
with the Chief Information Officers Council and 
with the approval of the Director, shall administer 
the Fund in accordance with this subsection. 
(3) USE OF FUNDS.—The Commissioner shall, 
in accordance with the recommendations of the 
Technology Modernization Board established under
subsection (b), use amounts in the Fund for the fol-
lowing purposes: 
(A) To transfer such amounts, to remain 
available until expended, to the head of an 
agency to improve, retire, or replace existing 
Federal information technology systems to en-
hance cybersecurity and improve efficiency and 
effectiveness. 
(B) For the development, operation, and 
procurement of information technology prod-
ucts, services, and acquisition vehicles for use 
by agencies to improve Governmentwide effi-
ciency and cybersecurity in accordance with the 
requirements of such agencies. 
(C) To provide services or work performed 
in support of the activities described under sub-
paragraph (A) or (B). 
(4) 
AUTHORIZATION
OF
APPROPRIATIONS; 
CREDITS; AVAILABILITY OF FUNDS.— 
(A) 
AUTHORIZATION
OF
APPROPRIA-
TIONS.—There is authorized to be appropriated 
to the Fund $250,000,000 for each of fiscal 
years 2018 and 2019. 
(B) CREDITS.—In addition to any funds 
otherwise appropriated, the Fund shall be cred-
ited with all reimbursements, advances, or re-
funds or recoveries relating to information tech-
nology or services provided through the Fund. 
(C) AVAILABILITY
OF
FUNDS.—Amounts 
deposited, credited, or otherwise made available 
to the Fund shall be available, as provided in 
appropriations Acts, until expended for the pur-
poses described in paragraph (3). 
(5) REIMBURSEMENT.— 
(A) PAYMENT BY AGENCY.—For a product 
or service developed under paragraph (3)(B), 
including any services or work performed in 
support of such development under paragraph 
(3)(C), the head of an agency that uses such 
product or service shall pay an amount fixed by 
the Commissioner in accordance with this para-
graph. 
(B) REIMBURSEMENT
BY
AGENCY.—The 
head of an agency shall reimburse the Fund for 
any transfer made under paragraph (3)(A), in-
cluding any services or work performed in sup-
port of such transfer under paragraph (3)(C), 
in accordance with the terms established in a 
written agreement described in paragraph (6). 
Notwithstanding any other provision of law, an
agency may make a reimbursement required by 
this subparagraph from any appropriation made 
available subsequent to the date of the enact-
ment of this Act for information technology ac-
tivities, consistent with any applicable re-
programming law or guidelines of the Commit-
tees on Appropriations of the House of Rep-
resentatives and the Senate. An obligation to 
make a payment under a written agreement de-
scribed in paragraph (6) in a fiscal year after 
the date of the enactment of this Act shall be 
recorded pursuant to section 1501 of title 31, 
United States Code, in the fiscal year in which 
the payment is due. 
(C) PRICES
FIXED
BY
COMMISSIONER.— 
The Commissioner, in consultation with the Di-
rector, shall establish amounts to be paid by an 
agency and terms of repayment for use of a 
product or service developed under paragraph 
(3)(B), including any services or work per-
formed in support of such development under 
paragraph (3)(C), at levels sufficient to ensure 
the solvency of the Fund, including operating 
expenses. Before making any changes to the es-
tablished amounts and terms of repayment, the
Commissioner shall conduct a review and obtain 
approval from the Director. 
(D) FAILURE
TO
MAKE
TIMELY
REIM-
BURSEMENT.—The Commissioner may obtain 
reimbursement by the issuance of transfer and 
counterwarrants, or other lawful transfer docu-
ments, supported by itemized bills, if payment 
is not made by an agency— 
(i) within 90 days after the expiration 
of a repayment period described in a writ-
ten agreement described in paragraph (6); 
or 
(ii) within 45 days after the expiration 
of the time period to make a payment 
under a payment schedule for a product or 
service developed under paragraph (3)(B). 
(6) WRITTEN AGREEMENT.— 
(A) IN GENERAL.—Before the transfer of 
funds to an agency under paragraph (3)(A), the 
Commissioner (in consultation with the Direc-
tor) and the head of the requisitioning agency 
shall enter into a written agreement docu-
menting the purpose for which the funds will be 
used and the terms of repayment, which may 
not exceed 5 years unless approved by the Di-
rector. An agreement made pursuant to this 
subparagraph shall be recorded as an obligation 
as provided in paragraph (5)(B). 
(B) REQUIREMENT
FOR
USE
OF
INCRE-
MENTAL DEVELOPMENT PRACTICES.—For any 
funds transferred to an agency under para-
graph (3)(A), in the absence of compelling cir-
cumstances documented by the Commissioner 
at the time of transfer, such funds shall be 
transferred only on an incremental basis, tied to 
metric-based development milestones achieved 
by the agency, to be described in a written 
agreement required under subparagraph (A). 
(7) REPORTING REQUIREMENT.—Not later than 
6 months after the date of the enactment of this 
Act, the Director shall publish and maintain a list 
of each project funded by the Fund on a public 
website, to be updated not less than quarterly, that 
includes a description of the project, project status 
(including any schedule delay and cost overruns), 
and financial expenditure data related to the project. 
(b) TECHNOLOGY MODERNIZATION BOARD.— 
(1) ESTABLISHMENT.—There is established a 
Technology Modernization Board (in this section re-
ferred to as the ‘‘Board’’) to evaluate proposals sub-