A bill to amend the National Science Foundation Act of 1950 to provide for the initiation and support of research fundamental to the engineering process in order to strengthen engineering research and engineering education, and to make changes in the organization and nomenclature of the Foundation to reflect the new essential emphasis on engineering.

Amends the National Science Foundation Act of 1950 to rename the National Science Foundation the National Science and Engineering Foundation. Renames the National Science Board the National Science and Engineering Board.

Directs the Foundation to initiate and support fundamental engineering research through contracts, grants, loans, and other forms of assistance.

Increases the membership of: (1) the Board from 24 to 36; and (2) the Executive Committee of the Board from five to seven. Increases the number of Assistant Directors of the Foundation from four to eight and revises their salary scale.