interest therein for the benefit of or in connection 
with the Nation’s aeronautics and space endeavors 
to include those of NASA, its activities or its serv-
ices, including a gift, devise, or bequest that is en-
cumbered, restricted, or subject to beneficial inter-
ests of private persons if any current or future inter-
est therein is for the benefit of the Nation’s aero-
nautics and space endeavors or NASA, its activities 
or its services. For purposes of this paragraph, an 
interest in real property includes easements or other 
rights for preservation, conservation, protection, or 
enhancement by and for the public of natural, sce-
nic, historic, scientific, educational, inspirational, or 
recreational resources. 
(2) LIMITATION.—The Endowment may not ac-
cept a gift, devise, or bequest which entails any ex-
penditure other than from the resources of the En-
dowment. 
(3) PROPERTY OF THE UNITED STATES.—Gifts 
and other transfers made to or for the use of the 
Endowment shall be regarded as contributions, gifts, 
or transfers to or for the use of the United States. 
(h) POWERS OF THE ENDOWMENT.— 
(1) CONTRACT.—The Endowment, with the ad-
vice of NASA and other agencies as appropriate,
shall have the power to enter into contracts or 
grants, to execute instruments, and generally to do 
any and all lawful acts necessary or appropriate con-
sistent with the purposes of the Endowment speci-
fied in subsection (b). 
(2) PAYMENT.—No payment shall be made 
under this section except upon application therefor 
which is submitted to the Endowment in accordance 
with regulations issued and procedures established 
by the Chairperson. Neither NASA nor any em-
ployee thereof is authorized to accept funds from the 
Endowment. 
(3) COORDINATION WITH NASA.—The Endow-
ment may utilize the services and facilities of NASA, 
and such services and facilities may be made avail-
able on request to the extent practicable without re-
imbursement therefor. 
(i) REPORTING.—Promptly at the end of each fiscal 
year, the Endowment shall transmit to Congress an an-
nual report of its proceedings and activities, including a 
full and complete statement of its receipts, expenditures, 
and investments.
SEC. 3. PRIZE AWARD PROGRAM TO ENCOURAGE DEVELOP-
MENT OF ADVANCED SPACE AND AERO-
NAUTICAL TECHNOLOGIES. 
(a) AUTHORITY.—The Chairperson may carry out a 
program to award cash prizes in recognition of out-
standing achievements in basic, advanced, and applied re-
search, technology development, and prototype demonstra-
tion that have the potential for application to the perform-
ance of the space and aeronautical activities of the Na-
tional Aeronautics and Space Administration. 
(b) COMPETITION
REQUIREMENTS.—The Endow-
ment shall— 
(1) widely advertise prize competitions and use 
a competitive process for the selection of recipients 
of prizes under this section. 
(2) make a determination prior to the advertise-
ment required under paragraph (1) if an individual 
prize might have benefits for private entities within 
the United States as well as NASA. 
(c) REGISTRATION.— 
(1) IN
GENERAL.—The Endowment shall re-
quire potential recipients of prizes to register for any 
prize competition under the program established 
under this section, and, as part of the registration 
process, to assume any and all risks and waive 
claims against the United States Government and
its related entities for any injury, death, damage, 
loss of property or revenue or profits, whether di-
rect, indirect or consequential, arising from their 
participation in a competition, whether such injury, 
death, damage or loss arises through negligence or 
otherwise, except in the case of willful misconduct. 
(2) RELATED ENTITY.—The term ‘‘related enti-
ty’’ includes a contractor or subcontractor at any 
tier, a supplier, user, customer, cooperating party, 
grantee, investigator or detailee. 
(d) LIMITATIONS.—The following limitations apply: 
(1) The total amount of cash prizes budgeted in 
a fiscal year may not exceed $150,000,000. 
(2) No prize competition may result in the 
award of more than $10,000,000 in cash prizes 
without the approval of the Chairperson or designee. 
(e) AVAILABILITY OF FUNDS.—Funds appropriated 
for the program authorized by this section shall remain 
available for 2 years. 
(f) REPORT.—The Chairperson shall transmit to the 
Committees on Appropriations and on Commerce, Science, 
and Transportation of the Senate and to the Committees 
on Appropriations and on Science of the House of Rep-
resentatives a report on the administration of the program 
for that fiscal year. The report shall include—
(1) the space and aeronautics applications for 
which cash prizes were awarded; 
(2) the total amount of the cash prizes award-
ed; and 
(3) the methods used for solicitation and eval-
uation of submissions, together with an assessment 
of the effectiveness of those methods. 
SEC. 4. ORBITAL DEMONSTRATION PRIZE AUTHORITY. 
(a) IN GENERAL.—The Endowment shall carry out 
a program to award a prize for the demonstration of a 
space flight vehicle to carry at least 1 person to a min-
imum altitude of 400 kilometers originating from within 
the United States or its territories, complete at least 3 
complete orbits of the Earth, and return safely to the 
Earth. It is highly desirable for the space flight vehicle 
to demonstrate a high degree of reusability for future 
flights beyond the demonstration flight. 
(b) ADDITIONAL REQUIREMENTS.—In order to be eli-
gible for the prize described in this section, the space flight 
vehicle— 
(1) shall be built with the capacity to carry a 
minimum of 3 persons; 
(2) shall not have been substantially developed 
under a contract or grant from any foreign or do-
mestic government;