; (2) BioBond investors; and (3) the long-term promotion of innovative biomedical research into therapies to address unmet medical needs. (c) Compensation A fiscal agent shall be compensated for performing duties under this Act from the proceeds from the sale of Biobonds issued by the fiscal agent, at such rate and on such terms as the Secretary of the Treasury may provide. (d) Rulemaking Not later than 180 days after the date of enactment of this Act, the Secretary of the Treasury shall issue final rules to carry out this section. 6. Reports (a) GAO study and reports on other research projects (1) Ongoing study The Comptroller General of the United States shall carry out an ongoing study to consider whether a program similar to the BioBonds Program should be established for other biomedical research projects. (2) Report The Comptroller General shall issue a report to the Congress, not less frequently than annually, on all findings and determinations made in carrying out the study required under paragraph (1). (b) Reports on the BioBonds Program Not later than 2 years after the date on which BioBonds are first issued, and annually thereafter during the period ending on the date that is 4 years after the date on which BioBonds are first issued, the Comptroller General and the Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, shall each issue a separate report to the Congress on— (1) the progress of the issuance of BioBonds; (2) the reasons for any problems achieving desired volumes of BioBonds or the ability of the BioBonds Program to proceed at a faster pace; (3) an analysis of the risk to the Government in providing the Federal guarantee described under section 4(b); (4) any recommended improvements to the BioBonds Program