Section 1. Short title

This Act may be cited as the Heart Event Avoidance, Research, and Treatment Foundation Act or the HEART Foundation Act.

Sec. 2. Establishment of and grant of federal charter for heart security foundation

Title IV of the Public Health Service Act (42 U.S.C. 281 et seq.) is amended by adding at the end the following:

K Heart Security Foundation

499B. Establishment of and grant of Federal charter for Heart Security Foundation

(a) In general

The Secretary, acting through the Director of NIH, shall establish a nonprofit corporation to be known as the Heart Security Foundation (referred to in this section as the Foundation). The Foundation shall be organized under the laws of the District of Columbia and is a federally chartered corporation, but is not an agency or instrumentality of the United States. The Foundation is fully responsible for its own obligations and liabilities.

(b) Purposes

The purposes of the Foundation are—

(1)

to raise and administer private capital to accelerate cardiovascular research;

(2)

to provide targeted grant support to research institutions in the United States;

(3)

to prioritize high-impact biomarker research linked to early-onset cardiovascular events;

(4)

to coordinate, if appropriate and practicable, with the Director of the Centers for Disease Control and Prevention for data alignment and reporting; and

(5)

to improve accessibility of validated research findings consistent with Federal ethics standards.

(c) Board of directors

(1) In general

The Foundation shall have a Board of Directors (referred to in this subsection as the Board).

(2) Membership

(A) In general

The Board shall consist of 5 members to be appointed by the Director of NIH, at least 3 of whom shall have demonstrated expertise in one or more of the following areas:

(i)

Cardiovascular research.

(ii)

Genetic biomarker science.

(iii)

Longitudinal cohort studies.

(iv)

Translational medicine.

(v)

Clinical epidemiology.

(B) Nonvoting member

The Director of NIH shall serve as an ex officio, nonvoting member of the Board.

(C) Compensation

Members of the Board shall serve without compensation, but may receive reimbursement for reasonable travel expenses.

(3) Period of appointment; vacancies

(A) In general

A member of the Board shall serve for a 4-year term and may not serve more than 2 consecutive terms.

(B) Vacancies

A vacancy in the Board—

(i)

shall not affect the powers of the Board; and

(ii)

shall be filled in the same manner as the original appointment.

(4) Chair

The Director of NIH shall appoint the initial Chair from among the members of the Board. The Board shall select subsequent Chairs from among the members of the Board.

(5) Conflicts of interest standards

The members of the Board shall comply with all applicable conflict of interest standards.

(6) Audits

The Board shall ensure that annual independent financial audits are carried out with respect to the activities of the Foundation.

(7) Duties of board

The Board shall—

(A)

complete the organization of the Foundation;

(B)

adopt bylaws for the Foundation that are consistent with purposes described in subsection (b);

(C)

appoint an executive director and such other personnel as may be necessary to enable the Foundation to perform its duties; and

(D)

establish procedures for awarding grants and contracts.

(d) Restrictions

The Foundation shall not—

(1)

engage in political advocacy;

(2)

fund community organizing;

(3)

conduct lifestyle or public messaging campaigns that are unrelated to research; or

(4)

operate as a health care provider or insurance entity.

(e) Funding

The Foundation may—

(1)

accept and use private donations; and

(2)

apply for Federal research grants.

(f) No federal employment

Officers, employees, and members of the Board of the Foundation shall not be considered officers or employees of the Federal Government.

(g) Reports

The Foundation shall submit to Congress and the Secretary an annual report that describes—

(1)

funds raised during the preceding year;

(2)

grants awarded during the preceding year; and

(3)

outcomes and measurable impact of research supported by the Foundation.

(h) Relief

If the Foundation acts outside its statutory purpose, the Attorney General may seek equitable relief.

(i) Process for establishment of Foundation

The Secretary, acting through the Director of NIH, shall carry out such activities as are necessary to incorporate the Foundation under the laws of the District of Columbia and to otherwise provide for the establishment of the Foundation, including the following activities:

(1)

Ensuring that the articles of incorporation for the Foundation require that the Foundation be established and operated in accordance with this section.

(2)

Ensuring that the Foundation is established as an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986, and is exempt from taxation under section 501(a) of such Code.

(3)

Providing for the initial operation of the Foundation, including providing for quarters, equipment, and staff.