READ AI Models Act was reported by committee and awaits a floor vote

Resources for Evaluating and Documenting AI Models or the READ AI Models Act This bill requires the National Institute of Standards and Technology (NIST) to develop a customizable template for information to accompany artificial intelligence (AI) models. Specifically, NIST must initiate a pilot program to establish a structured template that may be used to document information about an artificial intelligence model and any associated data, such as the model’s name, the developer, and the cutoff date for the model’s training data. The template must be modular to enable users to adopt and complete various sections to suit their needs and intended audience. NIST must also provide technical guidelines to accompany the template that incorporate consensus-based standards and industry best practices, as appropriate. In developing these materials, NIST must collaborate with and conduct periodic outreach to various stakeholders, including private sector entities, international standards organizations, and institutions of higher education. NIST must publish and solicit public comment on a draft of the template and guidelines. Within 12 months of the start of the pilot program, NIST must publish the finished products and report to Congress with an assessment of the program.