; or (2) $250,000. (c) Interest rate The interest rate on a loan made under this section shall be equal to the discount window primary credit interest rate most recently published on the Federal Reserve Statistical Release on selected interest rates (daily or weekly), commonly referred to as the H.15 release. (d) Report The Administrator of the Small Business Administration shall submit a report to Congress on the implementation and results of the program established under this section. (e) Authorization of appropriations There are authorized to be appropriated $25,000,000 for each of fiscal years 2018 to 2022. III New Economy and Innovation Investment 301. Commission on Innovation (a) Composition of Commission There is established in the Office of Management and Budget, a commission, to be known as the Commission on Innovation (hereinafter in this section referred to as the commission), which shall be composed of the following members: (1) The Director of the Office of Management and Budget, or his or her designee, who shall serve as the chair of the Commission. (2) Five individuals from the private sector, to be appointed by the Director of the Office of Management and Budget. (3) A representative appointed by the head of each of the following: (A) The National Institute of Standards and Technology. (B) The National Science Foundation. (C) The Federal Communications Commission. (D) The Department of Commerce. (E) The Department of the Treasury. (F) The General Service Administration. (b) Duties of Commission The commission shall study new and developing technologies, and shall make recommendations to each Federal agency on how the agency should take into consideration the existence, possible uses, development, and potential effect that such technologies may have on the agency’s carrying out of its statutory duties. The commission shall submit a report to Congress not later than 1 year after the effective date of enactment of this Act and annually thereafter on the activities of the commission during the 12