(2) DUTIES.—The National Committee for 
Vital and Health Statistics shall issue periodic re-
ports and review policies concerning IHRTs based 
on each of the following factors: 
(A) Privacy and security policies. 
(B) Economic progress. 
(C) Interoperability standards. 
(d) POLICIES RECOMMENDED BY FEDERAL TRADE 
COMMISSION.—The Federal Trade Commission, in con-
sultation with the National Committee for Vital and 
Health Statistics, shall recommend policies to— 
(1) provide assistance to encourage the growth 
of independent health record trusts; 
(2) track economic progress as it pertains to 
operators of independent health records trusts and 
individuals receiving nontaxable income with respect 
to accounts; 
(3) conduct public education activities regarding 
the creation and usage of the independent health 
records trusts; 
(4) establish standards for the interoperability 
of health information technology to ensure that in-
formation contained in such record may be shared 
between the trust involved, the participant, and au-
thorized EHR data users, including for the stand-
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ardized collection and transmission of individual 
health records (or portions of such records) to au-
thorized EHR data users through a common inter-
face and for the portability of such records among 
independent health record trusts; and 
(5) carry out any other activities determined 
appropriate by the Federal Trade Commission. 
(e) REGULATIONS
PROMULGATED
BY
FEDERAL 
TRADE COMMISSION.—The Federal Trade Commission 
shall promulgate regulations based on, at a minimum, the 
following factors: 
(1) Requiring that an IHRT participant, who 
has an electronic health record that is maintained by 
an IHRT, be notified of a security breech with re-
spect to such record, and any corrective action taken 
on behalf of the participant. 
(2) Requiring that information sent to, or re-
ceived from, an IHRT that has been designated as 
high-risk should be authenticated through the use of 
methods such as the periodic changing of passwords, 
the use of biometrics, the use of tokens or other 
technology as determined appropriate by the council. 
(3) Requiring a delay in releasing sensitive 
health care test results and other similar informa-
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tion to patients directly in order to give physicians 
time to contact the patient. 
(4) Recommendations for entities operating 
IHRTs, including requiring analysis of the potential 
risk of health transaction security breeches based on 
set criteria. 
(5) The conduct of audits of IHRTs to ensure 
that they are in compliance with the requirements 
and standards established under this title. 
(6) Disclosure to IHRT participants of the 
means by which such trusts are financed, including 
revenue from the sale of patient data. 
(7) Prevention of certification of an entity seek-
ing independent heath record trust certification 
based on— 
(A) the potential for conflicts between the 
interests of such entity and the security of the 
health information involved; and 
(B) the involvement of the entity in any 
activity that is contrary to the best interests of 
a patient. 
(8) Prevention of the use of revenue sources 
that are contrary to a patient’s interests. 
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(9) Public disclosure of audits in a manner 
similar to financial audits required for publicly trad-
ed stock companies. 
(10) Requiring notification to a participating 
entity that the information contained in such record 
may not be representative of the complete or accu-
rate electronic health record of such account holder. 
(f) COMPLIANCE REPORT.—Not later than 1 year 
after the date of the enactment of this Act, and annually 
thereafter, the Commission shall submit to the Committee 
on Health, Education, Labor, and Pensions and the Com-
mittee on Finance of the Senate and the Committee on 
Energy and Commerce and the Committee on Ways and 
Means of the House of Representatives, a report on com-
pliance by and progress of independent health record 
trusts with this title. Such report shall describe the fol-
lowing: 
(1) The number of complaints submitted about 
independent health record trusts, which shall be di-
vided by complaints related to security breaches, and 
complaints not related to security breaches, and may 
include other categories as the Interagency Steering 
Committee established under subsection (b) deter-
mines appropriate. 
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(2) The number of enforcement actions under-
taken by the Commission against independent health 
record trusts in response to complaints under para-
graph (1), which shall be divided by enforcement ac-
tions related to security breaches and enforcement 
actions not related to security breaches and may in-
clude other categories as the Interagency Steering 
Committee established under subsection (b) deter-
mines appropriate. 
(3) The economic progress of the individual 
owner or institution operator as achieved through 
independent health record trust usage and existing 
barriers to such usage. 
(4) The progress in security auditing as pro-
vided for by the Interagency Steering Committee 
council under subsection (b). 
(5) The other core responsibilities of the Com-
mission as described in subsection (a). 
(g) 
INTERAGENCY
MEMORANDUM
OF
UNDER-
STANDING.—The Interagency Steering Committee shall 
ensure, through the execution of an interagency memo-
randum of understanding, that— 
(1) regulations, rulings, and interpretations 
issued by Federal officials relating to the same mat-
ter over which 2 or more such officials have respon-
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