The American Sovereign Wealth Fund Exploration Act mandates the establishment of a commission to thoroughly investigate and provide recommendations on creating a national sovereign wealth fund for the United States. This commission, to be formed by the Chair of the Federal Reserve within 90 days of enactment, will comprise representatives from key federal agencies and experts from academia. Its primary goal is to explore the multifaceted aspects of such a fund, ensuring a comprehensive analysis.

The commission's extensive investigation will cover various critical areas, including potential sources of revenue for the fund, such as natural resources, existing federal assets, taxes, and foreign exchange reserves. It will also examine the fund's composition, considering investments in stocks, bonds, real estate, and strategic ventures, along with the intended usage of funds for purposes like general revenue, public investment, debt reduction, or critical technologies. Furthermore, the study will delve into the management and operational logistics, guided by international best practices like the "Santiago Principles," addressing governance, political independence, and accountability.

A significant part of the commission's work involves analyzing the projected outcomes and plausible scenarios, including profitability and strategic impacts. It will also assess the broad implications of a sovereign wealth fund on the U.S. economy, encompassing fiscal balance, currency stability, inflation, wealth inequality, and national security. Ultimately, within two years of its first meeting, the commission is required to submit a detailed report to Congress, the President, and the public, outlining its findings and offering specific legislative recommendations for action.