((a)) ** Establishment** There shall be established a federally funded research and development center to be known as the “Science and Technology Policy Institute” (hereinafter in this section referred to as the “Institute”).
((b)) ** Incorporation** The Institute shall be—
((1)) administered as a separate entity by an organization currently managing another federally funded research and development center; or
((2)) incorporated as a nonprofit membership corporation.
((c)) ** Duties** The duties of the Institute shall include the following:
((1)) The assembly of timely and authoritative information regarding significant developments and trends in science and technology research and development in the United States and abroad, including information relating to the technologies identified in the most recent biennial report submitted to Congress by the President pursuant to section 6683(d) of this title and developing and maintaining relevant informational and analytical tools.
((2)) Analysis and interpretation of the information referred to in paragraph (1) with particular attention to the scope and content of the Federal science and technology research and development portfolio as it affects interagency and national issues.
((3)) Initiation of studies and analysis of alternatives available for ensuring the long-term strength of the United States in the development and application of science and technology, including appropriate roles for the Federal Government, State governments, private industry, and institutions of higher education in the development and application of science and technology.
((4)) Provision, upon the request of the Director of the Office of Science and Technology Policy, of technical support and assistance—
((A)) to the committees and panels of the President’s Council of Advisers on Science and Technology that provide advice to the Executive branch on science and technology policy; and
((B)) to the interagency committees and panels of the Federal Government concerned with science and technology.
((d)) ** Consultation on Institute activities** In carrying out the duties referred to in subsection (c), personnel of the Institute shall—
((1)) consult widely with representatives from private industry, institutions of higher education, and nonprofit institutions; and
((2)) to the maximum extent practicable, incorporate information and perspectives derived from such consultations in carrying out such duties.
((e)) ** Annual reports** The Institute shall submit to the President an annual report on the activities of the Institute under this section. Each report shall be in accordance with requirements prescribed by the President.
((f)) ** Sponsorship**
((1)) The Director of the National Science Foundation shall be the sponsor of the Institute.
((2)) The Director of the National Science Foundation, in consultation with the Director of Office of Science and Technology Policy, shall enter into a sponsoring agreement with respect to the Institute. The sponsoring agreement shall require that the Institute carry out such functions as the Director of Office of Science and Technology Policy may specify consistent with the duties referred to in subsection (c). The sponsoring agreement shall be consistent with the general requirements prescribed for such a sponsoring agreement by the Administrator for Federal Procurement Policy.