(1) PURPOSE.—The purpose of the Foundation 
is to provide a mechanism to channel private sector 
investments that support efforts to create, develop, 
and commercialize innovative technologies that ad-
dress energy challenges, by methods that include— 
(A) fostering collaboration and partner-
ships with energy researchers from the Federal 
Government, State governments, institutions of 
higher education, federally funded research and 
development centers, industry, and nonprofit 
organizations for the research, development, or 
commercialization of transformative energy 
technologies; 
(B) leveraging technologies to support new 
product development that supports regional eco-
nomic development; and 
(C) administering prize competitions to ac-
celerate private sector competition and invest-
ment. 
(2) ACTIVITIES.— 
(A) IN GENERAL.—The Foundation may 
solicit and accept gifts, grants, and other dona-
tions, establish accounts, and invest and expend 
funds in support of the programs and activities 
described in subparagraphs (B) through (D). 
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(B) 
STUDIES, 
COMPETITIONS, 
AND 
PROJECTS.—The Foundation may conduct and 
support studies, competitions, projects, re-
search, development, commercialization, and 
other activities that further the purpose of the 
Foundation described in paragraph (1). 
(C) FELLOWSHIPS AND GRANTS.— 
(i) IN
GENERAL.—The Foundation 
may provide fellowships and grants to re-
cipients selected under clause (iii) for ac-
tivities relating to research, development, 
prototyping, maturing, or commercializing 
of energy technologies. 
(ii) USES
OF
FELLOWSHIPS
AND 
GRANTS.—A fellowship or grant under 
clause (i) may include stipends, travel, 
health insurance benefits, and other appro-
priate expenses. 
(iii) SELECTION.—The Executive Di-
rector shall select the recipient of a fellow-
ship or grant based on the technical and 
commercialization merits of the project. 
(iv) FEDERAL LABORATORIES.— 
(I) IN GENERAL.—Federal Lab-
oratories, including laboratories of the 
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Department of Energy, may apply for 
and accept grants under clause (i). 
(II) EFFECT.—A Federal labora-
tory that applies for or accepts a 
grant under subclause (I) shall not be 
considered to be engaging in a com-
petitive procedure. 
(D) SUPPLEMENTARY
PROGRAMS.—The 
Foundation may carry out supplementary pro-
grams— 
(i) to conduct and support forums, 
meetings, conferences, courses, and train-
ing workshops consistent with the purpose 
of the Foundation described in paragraph 
(1); 
(ii) to support and encourage the un-
derstanding and development of— 
(I) data reporting models that 
promote the translation of tech-
nologies from the research stage, 
through development and maturation, 
and to the market; and 
(II) policies that make regulation 
more 
effective 
and 
efficient 
by 
leveraging the technology translation 
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data described in subclause (I) for the 
regulation of relevant technology sec-
tors; 
(iii) for writing, editing, printing, pub-
lishing, and vending books and other mate-
rials relating to research carried out under 
the Foundation; and 
(iv) to conduct other activities to 
carry out and support the purpose de-
scribed in paragraph (1). 
(E) AUTHORITY
OF
FOUNDATION.—The 
Foundation shall be the sole entity responsible 
for carrying out the activities described in this 
paragraph. 
(F) ADMINISTRATIVE CONTROL.—No par-
ticipant in a program under this paragraph or 
employee of the Foundation shall exercise any 
administrative control over any Federal em-
ployee. 
(c) BOARD OF DIRECTORS.— 
(1) MEMBERSHIP.— 
(A) IN GENERAL.—The Foundation shall 
operate under the direction of a Board of Di-
rectors, which shall be composed of— 
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(i) ex-officio members described in 
subparagraph (B); and 
(ii) appointed members described in 
subparagraph (C). 
(B) EX-OFFICIO MEMBERS.— 
(i) INITIAL MEMBERS.— 
(I) IN
GENERAL.—Subject to 
subclause (II), the initial ex-officio 
members of the Board shall be— 
(aa) the chair of the Com-
mittee on Energy and Natural 
Resources of the Senate (or a 
designee); 
(bb) the ranking minority 
member of the Committee on En-
ergy and Natural Resources of 
the Senate (or a designee); 
(cc) the chair of the Com-
mittee on Energy and Commerce 
of the House of Representatives 
(or a designee); 
(dd) the ranking minority 
member of the Committee on En-
ergy and Commerce of the House 
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of Representatives (or a des-
ignee); 
(ee) the chair of the Com-
mittee on Environment and Pub-
lic Works of the Senate (or a 
designee); 
(ff) the ranking minority 
member of the Committee on En-
vironment and Public Works of 
the Senate (or a designee); 
(gg) the chair of the Com-
mittee on Science, Space, and 
Technology of the House of Rep-
resentatives (or a designee); 
(hh) the ranking minority 
member of the Committee on 
Science, Space, and Technology 
of the House of Representatives 
(or a designee); and 
(ii) the Secretary (or a des-
ignee). 
(II) 
DESIGNEES.—A 
designee 
under subclause (I) shall be a member 
of the staff of the applicable chair, 
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ranking minority member, or Sec-
retary. 
(ii) PERMANENT MEMBERS.— 
(I) TERMINATION.—On the ap-
pointment of appointed members of 
the Board under subparagraph (C), 
the terms of service of the ex-officio 
members of the Board described in 
items (aa) through (hh) of clause 
(i)(I) shall terminate. 
(II) PERMANENT MEMBER.—The 
Secretary shall serve as a permanent 
ex-officio member of the Board. 
(iii) NONVOTING MEMBERS.—The ex- 
officio members of the Board shall be non-
voting members. 
(C) APPOINTED MEMBERS.— 
(i) 
IN
GENERAL.—The 
appointed 
members of the Board shall be composed 
of 11 individuals, which shall include not 
fewer than 1 but not more than 5 rep-
resentatives of each of— 
(I) the academic community; 
(II) the business community; 
(III) nonprofit organizations; 
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(IV) 
the 
communities 
sur-
rounding the laboratories and facili-
ties of the Department of Energy; and 
(V) the technology transfer and 
commercialization community. 
(ii) METHOD OF APPOINTMENT.— 
(I) IN GENERAL.—Not later than 
90 days after the date of enactment of 
this Act, the ex-officio members of the 
Board shall select from a list of can-
didates, to be provided by, at the dis-
cretion of the Secretary, the Secretary 
of Energy Advisory Board or the Na-
tional Academy of Sciences, individ-
uals for appointment as members of 
the Board. 
(II) VOTE.—For the initial mem-
bership of the Board, an individual se-
lected for appointment under sub-
clause (I) shall be appointed on a vote 
of not fewer than 3⁄5 of the initial ex- 
officio members of the Board. 
(iii) RESTRICTION ON MEMBERSHIP.— 
No employee of the Department of Energy 
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shall be appointed as a member of the 
Board. 
(iv) AMENDMENT TO NUMBER OF AP-
POINTED MEMBERS.—The Board, through 
amendments to the bylaws of the Founda-
tion, may provide that the number of ap-
pointed members of the Board shall be 
greater than the number specified in clause 
(i). 
(D) TERMS AND VACANCIES.— 
(i) TERMS.— 
(I) IN GENERAL.—Except as pro-
vided in subclause (II), the term of 
service of each appointed member of 
the Board shall be 5 years. 
(II) INITIAL
APPOINTED
MEM-
BERS.—The term of service for each 
initial appointed member of the Board 
shall be— 
(aa) determined by the ini-
tial ex-officio members of the 
Board and the initial Chair to 
ensure that the continuity of rep-
resentation of board members 
from each of the areas described 
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in subclauses (I) through (V) of 
subparagraph (C)(i); and 
(bb) for a term of either 3 
or 4 years. 
(ii) VACANCIES.— 
(I) IN
GENERAL.—Any vacancy 
in the membership of the appointed 
members of the Board— 
(aa) shall be filled in accord-
ance with the bylaws of the 
Foundation 
established 
under 
subsection (d)(1)(B); and 
(bb) shall not affect the 
power of the remaining appointed 
members to execute the duties of 
the Board. 
(II) 
FILLING
UNEXPIRED 
TERM.—An individual appointed to fill 
a vacancy shall be appointed for the 
unexpired term of the member re-
placed. 
(III) SERVICE
UNTIL
VACANCY 
FILLED.—An appointed member of 
the Board may continue to serve on 
the Board after the expiration of the 
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term of the member until a successor 
is appointed. 
(2) CHAIR.— 
(A) INITIAL CHAIR.—The initial Chair of 
the Board shall be an initial ex-officio member 
elected by the initial ex-officio members of the 
Board for a 3-year term that shall expire on the 
appointment of the next Chair. 
(B) CHAIR
AFTER
MEMBERS
ARE
AP-
POINTED.—On the termination of the term of 
service of the initial Chair under subparagraph 
(A), the appointed members of the Board shall 
elect an appointed member of the Board to 
serve as the Chair, who shall serve as the Chair 
for the entire remaining term of service of that 
member. 
(3) COMPENSATION.— 
(A) IN GENERAL.—Members of the Board 
may not receive compensation for service on the 
Board. 
(B) CERTAIN
EXPENSES.—In accordance 
with the bylaws of the Foundation, members of 
the Board may be reimbursed for travel ex-
penses, including per diem in lieu of subsist-
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ence, and other necessary expenses incurred in 
carrying out the duties of the Board. 
(d) MEETINGS AND QUORUM.— 
(1) MEETINGS.—Not later than 180 days after 
the establishment of the appointed Board, the initial 
appointed members of the Board shall— 
(A) serve as incorporators; and 
(B) take such actions as are necessary— 
(i) to incorporate the Foundation; 
(ii) to establish the bylaws of the 
Foundation; 
(iii) to establish the general policies of 
the Foundation for carrying out the pur-
pose described in subsection (b)(1); and 
(iv) to appoint the members of the 
Board in accordance with subsection 
(c)(1)(C)(ii). 
(2) QUORUM.—A majority of the members of 
the Board shall constitute a quorum for purposes of 
conducting the business of the Board. 
(e) CERTAIN BYLAWS.— 
(1) IN GENERAL.—The Board shall include in 
the bylaws of the Foundation established under sub-
section (d)(1)(B) the following policies: 
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(A) Policies for the selection of the offi-
cers, employees, agents, and contractors of the 
Foundation. 
(B) Policies, including ethical standards, 
for the acceptance, solicitation, and disposition 
of gifts, grants, and other donations to the 
Foundation, which shall require that— 
(i) officers, employees, agents, and 
contractors of the Foundation (including 
members of the Board) avoid encum-
brances that would result in a conflict of 
interest, including a financial conflict of in-
terest or a divided allegiance; and 
(ii) information concerning any owner-
ship or controlling interest in any entity 
related to the activities of the Foundation 
be disclosed by officers, employees, agents, 
and contractors of the Foundation (includ-
ing members of the Board) and the rel-
atives (as defined in section 109 of the 
Ethics in Government Act of 1978 (5 
U.S.C. App.)) of the officers, employees, 
agents, contractors, and members. 
(C) Policies for the disposition of the as-
sets of the Foundation. 
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(D) Policies for the conduct of the general 
operations of the Foundation. 
(E) Policies for writing, editing, printing, 
publishing, and vending of books and other ma-
terials. 
(2) REQUIREMENTS.—In establishing the by-
laws of the Foundation, the Board shall ensure that 
the bylaws of the Foundation and the activities car-
ried out under the bylaws of the Foundation shall 
not— 
(A) reflect unfavorably on the ability of the 
Foundation or the Secretary to carry out re-
sponsibilities or official duties in a fair and ob-
jective manner; or 
(B) compromise, or appear to compromise, 
the integrity of any agency or program of the 
Federal Government, or any officer or employee 
involved in the program. 
(f) POWERS AND DUTIES.— 
(1) 
OPERATION
UNDER
DIRECTION
OF 
BOARD.—The Foundation shall operate under the 
direction of the Board. 
(2) EXECUTIVE DIRECTOR.— 
(A) IN GENERAL.—An Executive Director 
of the Foundation shall be— 
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(i) appointed by, and serve at the 
pleasure of, the Board; and 
(ii) responsible for— 
(I) the day-to-day operations of 
the Foundation; and 
(II) such specific duties and re-
sponsibilities as the Board may pre-
scribe. 
(B) COMPENSATION.—The rate of com-
pensation of the Executive Director shall be 
fixed by the Board. 
(3) CORPORATE SEAL.—The Foundation may 
adopt, alter, and use a corporate seal, which shall be 
judicially noticed. 
(4) OFFICERS, EMPLOYEES, AND AGENTS.—The 
Foundation may— 
(A) hire, promote, compensate, and dis-
charge officers, employees, agents, and contrac-
tors; 
(B) define the duties of the officers, em-
ployees, agents, and contractors; 
(C) require surety bonds or make other 
provisions against losses occasioned by acts of 
the officers, employees, agents, or contractors; 
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(D) with the consent of any Federal agen-
cy, use the information, services, staff, and fa-
cilities of the agency; and 
(E) appoint other groups of advisors as 
may be determined necessary. 
(5) OTHER POWERS.—The Foundation may— 
(A) modify or consent to the modification 
of any contract or agreement to which the 
Foundation is a party or in which the Founda-
tion has an interest; 
(B) enter into contracts with public and 
private organizations for the writing, editing, 
printing, and publishing of books and other ma-
terial; 
(C) take such action as may be necessary 
to obtain patents and licenses for devices and 
procedures developed by the Foundation; 
(D) enter into contracts, leases, coopera-
tive agreements, and other transactions as the 
Executive Director considers appropriate to 
conduct the activities of the Foundation; 
(E) solicit, accept, hold, administer, invest, 
and spend any gift, devise, or bequest of real or 
personal property made to the Foundation; 
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(F) sue and be sued in its corporate name 
and complain and defend itself in any court of 
competent jurisdiction; and 
(G) exercise such other powers, including 
incidental powers, as are necessary to carry out 
the powers, duties, and functions of the Foun-
dation under this Act. 
(6) FEES.—The Foundation may assess fees 
for the provision of professional, administrative, and 
management services by the Foundation in amounts 
determined reasonable and appropriate by the Exec-
utive Director. 
(g) INCORPORATION.—The initial members of the 
Board shall serve as incorporators and shall take any ac-
tions necessary to incorporate the Foundation. 
(h) NONPROFIT STATUS.—The Foundation shall be 
considered to be an organization described in section 
501(c) of the Internal Revenue Code of 1986, and exempt 
from taxation under section 501(a) of such Code. 
(i) GENERAL PROVISIONS.— 
(1) 
FOUNDATION
INTEGRITY.—The 
Board 
shall— 
(A) be accountable for the integrity of the 
operations of the Foundation; and 
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(B) ensure that integrity through the de-
velopment and enforcement of criteria and pro-
cedures relating to— 
(i) standards of conduct; 
(ii) financial disclosure statements; 
(iii) conflicts of interest; 
(iv) recusals and waivers; 
(v) audits; and 
(vi) other matters determined appro-
priate by the Board. 
(2) FINANCIAL CONFLICTS OF INTEREST.—Any 
individual who is an officer, employee, or member of 
the Board shall not, in accordance with the policies 
established under subsection (e)(1)(B)(ii), personally 
or substantially participate in the consideration or 
determination by the Board of any matter that 
would directly and foreseeably affect any financial 
interest of— 
(A) the individual; 
(B) a relative (as defined in section 109 of 
the Ethics in Government Act of 1978 (5 
U.S.C. App.)) of the individual; or 
(C) any business organization or other en-
tity— 
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(i) of which the individual is an officer 
or employee; 
(ii) of which the individual is negoti-
ating for employment; or 
(iii) in which the individual has any 
other financial interest. 
(3) AUDITS; AVAILABILITY OF RECORDS.—The 
Board shall— 
(A) conduct annual audits of the financial 
condition of the Foundation; and 
(B) make those audits, and all other 
records, documents, and other papers of the 
Foundation, available to the Secretary and the 
Comptroller General of the United States for 
examination or audit. 
(4) REPORTS.— 
(A) IN
GENERAL.—Not later than 150 
days after the end of each fiscal year, the 
Board shall publish a report describing the ac-
tivities of the Foundation during the preceding 
fiscal year. 
(B) CONTENTS.—Each report published 
under subparagraph (A) shall include, for the 
applicable fiscal year— 
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(i) a comprehensive statement of the 
operations, activities, financial condition, 
and accomplishments of the Foundation, 
including an accounting of the use of 
amounts 
transferred 
under 
subsection 
(k)(1); and 
(ii) with respect to the financial condi-
tion of the Foundation— 
(I) the source, and a description, 
of each gift or grant of real or per-
sonal property to the Foundation; 
(II) the source and amount of 
each cash gift or grant to the Founda-
tion; and 
(III) a specification of any re-
strictions on the purposes for which 
the gifts and grants described in sub-
clauses (I) and (II) may be used. 
(C) AVAILABILITY.—The Board shall— 
(i) make copies of each report sub-
mitted under subparagraph (A) available— 
(I) for public inspection; and 
(II) to the appropriate commit-
tees of Congress; and 
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(ii) on request, provide a copy of any 
report submitted under subparagraph (A) 
to any individual for a charge that shall 
not exceed the cost of providing the copy. 
(D) PUBLIC MEETING.—The Board shall 
annually hold a public meeting— 
(i) to summarize the activities of the 
Foundation; and 
(ii) to distribute written reports de-
scribing— 
(I) those activities; and 
(II) the scientific results derived 
from those activities. 
(5) SERVICE
OF
FEDERAL
EMPLOYEES.—A 
Federal employee may serve on a committee advisory 
to the Foundation and otherwise cooperate with and 
assist the Foundation in carrying out this Act, sub-
ject to the condition that the Federal employee shall 
not direct or control any activity of the Foundation. 
(6) RELATIONSHIP WITH EXISTING ENTITIES.— 
The Board may, in accordance with appropriate 
agreements, merge the Foundation with, acquire, or 
use the resources of an existing nonprofit private 
corporation that has a mission similar to the pur-
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pose of the Foundation described in subsection 
(b)(1). 
(7) INTELLECTUAL
PROPERTY
RIGHTS.—The 
Board shall adopt written standards with respect to 
the ownership of any intellectual property rights de-
rived from the collaborative efforts of the Founda-
tion before the commencement of any collaborative 
efforts. 
(8) TRANSFER
OF
FUNDS.—The Board may 
transfer amounts to the Secretary, and the Sec-
retary may accept transfers of amounts from the 
Foundation. 
(j) SUPPORT SERVICES.—The Secretary may provide 
facilities, utilities, and support services to the Foundation 
if it is determined by the Secretary to be advantageous 
to the research programs of the Department of Energy. 
(k) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated to carry out this section 
such sums as are necessary for fiscal year 2018 and each 
fiscal year thereafter. 
SEC. 4. ESTABLISHMENT OF FOR-PROFIT SUBSIDIARIES. 
(a) ESTABLISHMENT.—The Board may establish 1 or 
more for-profit subsidiaries, which may include an impact 
investment fund— 
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(1) to stimulate economic development activities 
relating to the purpose of the Foundation described 
in section 3(b)(1); and 
(2) to attract for-profit investment partners for 
technology translation and commercialization activi-
ties. 
(b) AUTHORITIES
OF
THE
FOR-PROFIT
SUB-
SIDIARY.— 
(1) IN GENERAL.—Subject to paragraph (2), a 
for-profit subsidiary established under subsection (a) 
may— 
(A) enter partnerships with economic de-
velopment corporations, including incubators, 
accelerators, and small business investment 
companies; 
(B) pay for the cost of building and ad-
ministering facilities, including microlabs and 
incubators, to support the activities of the 
Foundation described in section 3(b)(2); and 
(C) provide funding to startups. 
(2) COST RECOVERY REQUIREMENTS.—A for- 
profit subsidiary established under subsection (a) 
shall— 
(A) ensure that the Foundation owns any 
intellectual property rights generated through 
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activities funded by the for-profit subsidiary, if 
appropriate; and 
(B) own an equity stake in any startup in-
vested in by the for-profit subsidiary. 
Æ 
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