Feasibility study

(a) In general The Secretary shall conduct a study— (1) to investigate current domestic fertilizer product production capacity and vulnerabilities, such as import dependency for fertilizer products, critical chokepoints in fertilizer product distribution, and market concentration risks; (2) to investigate the feasibility of storing fertilizer products in the Reserve, including shelf life and degradation rates of stored fertilizer products and associated rotation and drawdown protocols; (3) to investigate the feasibility of storing fertilizer product inputs in the Reserve, including shelf life and degradation rates of stored fertilizer product inputs, associated rotation and drawdown protocols, and necessary blending and processing capacity; (4) to investigate the optimal Reserve size; (5) to investigate the effectiveness of the Reserve’s price stabilization; (6) to investigate the type of organization or combination of organizations that are best suited to operate the Reserve; (7) to investigate the 1 or more locations best suited to host the facilities of the Reserve, which shall consider proximity to blending facilities, proximity to agricultural producers, and the climate resilience of facility sites; (8) to suggest the optimal organizational structure for the Reserve; (9) to investigate the situations in which withdrawals or releases from the Reserve would help stabilize prices for United States farmers; (10) to suggest risk management measures for spills, leaks, fires, and explosions; (11) to estimate the cybersecurity and physical security requirements for facilities of the Reserve; (12) to estimate the costs necessary to set up the Reserve; (13) to estimate the annual cost to maintain and operate the Reserve; (14) to investigate domestic fertilizer supply chains, including regional disparities in access for United States farmers; and (15) to consider other factors that the Secretary considers to be important in setting up, maintaining, and operating the Reserve. (b) Determination Based on the results of the study under subsection (a), the Secretary shall determine whether to approve the establishment of the Strategic Fertilizer Reserve Agency under section 5, the Strategic Fertilizer Reserve under section 6, and the Strategic Fertilizer Reserve Fund under section 8. (c) Report Not later than 180 days after the date on which funds are made available to the Secretary to conduct the study under subsection (a), the Secretary shall submit to the Committee on Agriculture, Nutrition, and Forestry of the Senate and the Committee on Agriculture of the House of Representatives a report describing the findings of the study and the determination of the Secretary under subsection (b).