This bill mandates the Department of Energy (DOE) and the National Science Foundation (NSF) to establish cross-cutting and collaborative research and development activities to advance their joint mission requirements. These activities will be coordinated through a memorandum of understanding or interagency agreement, utilizing a competitive, merit-reviewed process open to various entities including Federal agencies, National Laboratories, and institutions of higher education. Collaborative research will focus on critical areas such as basic plasma science, fundamental biological and computational science, artificial intelligence, quantum information sciences, and advanced energy and materials science. The coordination efforts will also promote collaboration and data sharing , support necessary research infrastructure, and organize education, training, and workforce development initiatives like internships and fellowships. The Secretary and Director are authorized to enter into reimbursable agreements and collaborate with other Federal agencies to maximize research and development effectiveness. A report detailing interagency coordination, achievements, and future opportunities is required within two years, with all activities consistent with research security guidelines.