Proposed legislation may give the Food and Drug Administration (FDA) funding to assess the health and safety implications of nanotechnology in everyday products and develop best practices for companies who employ nanotechnology, according to a post on ORC Worldwide’s web site.

If passed, the Nanotechnology Safety Act of 2010, S. 2942, cosponsored by U.S. Senators Mark Pryor (D-AR) and Benjamin L. Cardin (D-MD), would establish a nanotechnology risk assessment program within the FDA "for the scientific investigation of nanoscale materials included or intended for inclusion in FDA-regulated products, to address the potential toxicology of such materials, the effects of such materials on biological systems, and interaction of such materials with biological systems” within 180 days.

The bill authorizes $25 million for the program each year from 2011 through 2015.