The term “Foundation” means the Foundation for Food and Agriculture Research established under subsection (b).
The Secretary shall establish a nonprofit corporation to be known as the “Foundation for Food and Agriculture Research”.
The Foundation shall not be an agency or instrumentality of the United States Government.
The activities described in paragraph (1) shall be supplemental to any other activities at the Department and shall not preempt any authority or responsibility of the Department under another provision of law.
The ex-officio members shall ensure that a majority of the appointed members of the Board have actual experience in agriculture or agricultural research and, to the extent practicable, represent diverse sectors of agriculture.
No employee of the Federal Government may serve as an appointed member of the Board under this subparagraph.
Appointment to the Board under this subparagraph shall not constitute Federal employment.
The term of each member of the Board appointed under paragraph (2)(C) shall be 5 years, except that of the members initially appointed, 8 of the members shall each be appointed for a term of 3 years and 7 of the members shall each be appointed for a term of 2 years.
If a member of the Board does not serve the full term applicable under clause (i), the individual appointed to fill the resulting vacancy shall be appointed for the remainder of the term of the predecessor of the individual.
A member of the Board may continue to serve after the expiration of the term of the member until a successor is appointed.
No appointed member of the Board or officer or employee of the Foundation or of any program established by the Foundation (other than ex-officio members of the Board) shall exercise administrative control over any Federal employee.
The Board shall hold an annual public meeting to summarize the activities of the Foundation.
Any recipient of a grant under subsection (d)(1)(A) shall provide the Foundation with a report at the conclusion of any research or studies conducted that describes the results of the research or studies, including any data generated.
To ensure integrity in the operations of the Foundation, the Board shall develop and enforce procedures relating to standards of conduct, financial disclosure statements, conflicts of interest (including recusal and waiver rules), audits, and any other matters determined appropriate by the Board.
The Board shall adopt written standards to govern the ownership and licensing of any intellectual property rights derived from the collaborative efforts of the Foundation.
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.
On February 7, 2014, of the funds of the Commodity Credit Corporation, the Secretary shall transfer to the Foundation to carry out this section $200,000,000, to remain available until expended under the conditions described in subparagraph (B).
On the date on which the strategic plan described in subsection (f)(3)(B)(iv) is submitted, of the funds of the Commodity Credit Corporation, the Secretary shall transfer to the Foundation to carry out this section $185,000,000, to remain available until expended.
Not later than 30 days after November 17, 2023, of the funds of the Commodity Credit Corporation, the Secretary shall transfer to the Foundation to carry out this section $37,000,000, to remain available until expended.
Not later than 30 days after July 4, 2025, of the funds of the Commodity Credit Corporation, the Secretary shall transfer to the Foundation to carry out this section $37,000,000, to remain available until expended.
The Foundation may use the funds made available under subparagraph (A) to carry out the purposes, duties, and powers of the Foundation only to the extent that the Foundation secures an equal amount of matching funds from a non-Federal source, including an agricultural commodity promotion, research, and information program.
Nothing in this section requires the Foundation to require a matching contribution from an individual grantee as a condition of receiving a grant under this section.