; (iii) vision trauma due to injury such as that experienced by wounded veterans; (iv) glaucoma; (v) optic nerve disorders that result in vision impairment or blindness, such as morning glory syndrome; and (vi) diabetic reinopathy; and (C) subject to subparagraph (B)(vi), does not include projects designed to cure any underlying disease or condition whose symptoms may include vision impairment, such as diabetes. 3. Eye Bond Pilot Program (a) Establishment Not earlier than 1 year after the date of enactment of this Act, the Secretary, in consultation with the Secretary of the Treasury and the appropriate Federal banking agencies, shall establish a pilot program to be known as the Eye Bond Pilot Program under which— (1) the Director of the National Eye Institute shall, in accordance with section 6, select translational research projects to be funded by eye bonds; and (2) the Secretary shall— (A) provide a partial Federal guarantee of the eye bonds; (B) contract with an issuer to issue the eye bonds; and (C) use the proceeds from the sale of the eye bonds to fund the selected projects and to pay for other related expenses, as permitted by this Act. (b) Federal guarantee (1) In general The Secretary shall guarantee the payment of principal (but not the payment of interest) on an eye bond, on a bond-by-bond basis, in an amount to be determined by the Secretary, but in no case may the amount of such guarantee be more than 50 percent of the principal of the eye bond. (2) Prioritization of taxpayer interests All eye bonds shall be structured to give first priority to protecting the interests of the United States by ensuring that— (A) all cash proceeds received from the repayment of an eye bond are first used to reduce the amount of principal guaranteed by the Secretary under the terms of the eye bond