; and (B) any covered entity that violates a regulation promulgated under subsection (a)(1) shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (k) Report Not later than 2 years after the date of the enactment of this Act, the Commission shall submit to the Committee on Energy and Commerce and the Committee on Science, Space, and Technology of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report on the establishment, implementation, and enforcement of the standards required by subsection (a)(1). (l) Authorization of appropriations There are authorized to be appropriated to the Commission to carry out this section— (1) $10,000,000 for fiscal year 2025; and (2) $3,000,000 for each fiscal year thereafter. (m) Definitions In this section: (1) Artificial intelligence The term artificial intelligence has the meaning given such term in section 5002 of the National Artificial Intelligence Initiative Act of 2020 ( 15 U.S.C. 9401 ; enacted as division E of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 ( Public Law 116–283 )). (2) Commission The term Commission means the Federal Trade Commission. (3) Covered entity (A) In general The term covered entity means any person, partnership, or corporation described in subparagraph (C) that provides— (i) use of or services from a foundation model which generates, in aggregate, over 100,000 monthly output instances (whether text, images, video, audio, or other modality), including output instances generated from use by users of second party entities that use such model