This legislation establishes a new Immersive Technology Advisory Panel within the Department of Commerce to position the United States as a global leader in immersive technologies, including virtual reality, augmented reality, and mixed reality. The bill requires the Secretary of Commerce to designate a principal advisor on immersive technology and create the advisory panel within 180 days, composed of representatives from multiple federal agencies plus six to ten outside experts from academia, think tanks, the private sector, and civil society. The panel must meet at least quarterly and conduct a comprehensive study within two years examining the economic impact of immersive technology across key sectors like manufacturing, healthcare, education, and defense, while also assessing security risks, privacy protections, and investment needs. Within 90 days of completing the study, the Secretary must submit findings and recommendations to Congress and publish the report publicly. The bill addresses concerns that countries like China are advancing immersive technology and reflects the view that maintaining U.S. dominance in this emerging technology platform is important for both economic competitiveness and national security.