This bill requires certain federal agencies to support research and development of technology that better protects individuals' privacy with respect to data collection (i.e., privacy enhancing technologies). Specifically, the National Science Foundation must support research on de-identification methods, algorithmic tools, free software libraries, and other technology that reduces privacy risks from data processing. The bill also specifically incorporates this type of technology into the foundation's computer and network security research grants. Additionally, the Networking and Information Technology Research and Development Program (a network of 24 federal agencies focused on research and development of advanced information technologies in computing, networking, and software) must coordinate with the foundation, the National Institute of Standards and Technology (NIST), the Federal Trade Commission, and other federal agencies to accelerate the development and implementation of this type of technology. NIST must also engage with public and private stakeholders to support the development of voluntary standards for integrating this type of technology into data collection, sharing, and analytical practices.