The International Quantum Research Exchange Act mandates the Secretary of State to establish a program designed to enhance international cooperation in quantum information science. This initiative will primarily achieve its goals by awarding competitive matching grants to institutions of higher education or eligible nonprofit organizations engaged in international collaborative research. Furthermore, the program will support various international scientist exchange programs, accommodating visits that range in duration from multi-day to multi-year.

In carrying out this program, the Secretary of State must ensure its alignment with the National Quantum Information Science Strategy and coordinate with several key national quantum offices and subcommittees. A crucial provision specifies that collaborative research programs can only be funded with countries that have signed quantum cooperation statements with the United States or are members of the Five Eyes intelligence sharing alliance. Importantly, the bill explicitly prohibits funding research programs with any designated foreign adversary, and all activities must comply with robust research security guidelines, including those from National Security Presidential Memorandum-33, to safeguard federally funded research.

The Secretary is also required to consult with appropriate congressional committees, industry leaders, and technology experts during the program's development and operation. An annual report detailing program activities and identifying priority countries for increased collaboration must be submitted to Congress. The bill authorizes an appropriation of $20,000,000 for fiscal year 2026 to fund the program, which is slated to terminate 10 years after its enactment.