This report discusses Senate Bill no. 272, which provides for a coordinated federal research and development program to ensure continued U.S. leadership in high-performance computing. High performance computing is defined as representing the leading edge of technological advancement in computing, i.e., the most sophisticated computer chips, the fastest computers with the largest memories, the fastest algorithms, and the fastest computer networks. This report documents the background of the bill, the growth of fiber optic networks, and prior administrative and congressional action. A summary of the major provisions of the bill precedes analyses of each of the 10 sections of the bill, including the National High-Performance Computing Program, the role of the National Research and Education Network (NREN), the goal of the National Aeronautics and Space Administration (NASA), the role of the National Institute of Standards and Technology (NIST), the role of the National Science Foundation (NSF), and the continuing development of supercomputers in light of international competition. The report concludes with the presentation of new materials in S. 272 that would change the provisions of Title VII of the National Science and Technology Policy, Organization and Priorities Act of 1976. (DB)