108 STAT. 218 PUBLIC LAW 103-227—MAR. 31, 1994 of professional excellence. In developing such standards, the Assistant Secretary shall review the procedures utilized by the National Institutes of Health, the National Science Foundation, and other Federal departments or agencies engaged in research and development and shall also actively solicit recommendations from research organizations and members of the general public. (2) CONTENTS OF STANDARDS.— Such standards shall at a minimmn— (A) require that a process of open competition be used in awarding or entering into all grants, contracts, and cooperative agreements under this title; (B) require that a system of peer review be utilized by the Office— (i) for reviewing and evaluating all applications for grants and cooperative agreements and bids for those contracts which exceed $100,000; (ii) for evaluating and assessing the performance of all recipients of grants from and cooperative agreements and contracts with the Office; and (iii) for reviewing and designating exemplary and promising programs in accordance with section 941(d); (C) describe the general procedures which shall be used by each peer review panel in its operations; (D)(i) describe the procedures which shall be utilized in evaluating applications for grants, proposed cooperative agreements, and contract bids; and (ii) specify the criteria and factors which shall be considered in making such evaluations; (E) describe the procedures which shall be utilized in reviewing educational programs which have been identified by or submitted to the Secretary for evaluation in accordance with section 941(d); and (F) require that the performance of all recipients of grants from and contracts and cooperative agreements with the Office shall be periodically evaluated, both during and at the conclusion of their receipt of assistance. (3) PUBLICATION AND PROMULGATION OF STANDARDS. — (A) The Assistant Secretary shall publish proposed standards— (i) which meet the requirements of subparagraphs (A), (B), (C), and (D) of paragraph (2) not later than 1 year after the date of the enactment of this title; (ii) which meet the requirements of paragraph (2)(E) not later than 2 years after such date; and (iii) which meet the requirements of subparagraph (F) of paragraph (2) not later than 3 years after such date. (B) Following the publication of such proposed standards, the Assistant Secretary shall solicit comments from interested members of the public with respect to such proposed standards for a period of not more than 120 days. After giving due consideration to any comments which may have been received, the Assistant Secretary shall transmit such standards to the Board for its review and approval.