968 
the Foundation, available to the Secretary 
and the Comptroller General of the United 
States for examination or audit. 
(B) REPORTS.— 
(i) ANNUAL
REPORT
ON
FOUNDA-
TION.— 
(I) IN GENERAL.—Not later than 
5 months following the end of each 
fiscal year, the Foundation shall pub-
lish a report for the preceding fiscal 
year that includes— 
(aa) a description of Foun-
dation activities, including ac-
complishments; and 
(bb) a comprehensive state-
ment of the operations and finan-
cial condition of the Foundation. 
(II) FINANCIAL
CONDITION.— 
Each report under subclause (I) shall 
include a description of all gifts or 
grants to the Foundation of real or 
personal property or money, which 
shall include— 
(aa) the source of the gifts 
or grants; and 
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969 
(bb) any restrictions on the 
purposes for which the gift or 
grant may be used. 
(III) AVAILABILITY.—The Foun-
dation shall— 
(aa) make copies of each re-
port submitted under subclause 
(I) available for public inspection; 
and 
(bb) on request, provide a 
copy of the report to any indi-
vidual. 
(IV) 
PUBLIC
MEETING.—The 
Board shall hold an annual public 
meeting to summarize the activities of 
the Foundation. 
(ii) GRANT REPORTING.—Any recipi-
ent of a grant under subsection (d)(1)(A) 
shall provide the Foundation with a report 
at the conclusion of any research or studies 
conducted the describes the results of the 
research or studies, including any data 
generated. 
(4) INTEGRITY.— 
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970 
(A) IN GENERAL.—To ensure integrity in 
the operations of the Foundation, the Board 
shall develop and enforce procedures relating to 
standards of conduct, financial disclosure state-
ments, conflict of interest (including recusal 
and waiver rules), audits, and any other mat-
ters determined appropriate by the Board. 
(B) FINANCIAL
CONFLICTS
OF
INTER-
EST.—Any individual who is an officer, em-
ployee, or member of the Board is prohibited 
from any participation in deliberations by the 
Foundation of a matter that would directly or 
predictably affect any financial interest of— 
(i) the individual; 
(ii) a relative (as defined in section 
109 of the Ethics in Government Act of 
1978 (5 U.S.C. App.)) of that individual; 
or 
(iii) a business organization or other 
entity in which the individual has an inter-
est, including an organization or other en-
tity with which the individual is negoti-
ating employment. 
(5) INTELLECTUAL
PROPERTY.—The Board 
shall adopt written standards to govern ownership of 
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any intellectual property rights derived from the col-
laborative efforts of the Foundation. 
(6) LIABILITY.—The United States shall not be 
liable for any debts, defaults, acts, or omissions of 
the Foundation nor shall the full faith and credit of 
the United States extend to any obligations of the 
Foundation. 
(g) FUNDS.— 
(1) MANDATORY FUNDING.— 
(A) IN GENERAL.—On October 1, 2013, of 
the funds of the Commodity Credit Corporation, 
the Secretary shall transfer to the Foundation 
to carry out this section $200,000,000, to re-
main available until expended under the condi-
tions described in subparagraph (B). 
(B) CONDITIONS ON EXPENDITURE.—The 
Foundation may use the funds made available 
under subparagraph (A) to carry out the pur-
poses of the Foundation only to the extent that 
the Foundation secures an equal amount of 
non-Federal matching funds for each expendi-
ture. 
(C) PROHIBITION
ON
CONSTRUCTION.— 
None of the funds made available under sub-
paragraph (A) may be used for construction. 
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