The author examines the draft of standard new version (GOST R 7.0.94–2015 “SIBID. Library document acquisitions. Terms and definitions”. The need for ordering terms in the area of collection development and collection studies. Owing to the terminology’s expanding onto collection studies, the standard title has changed from “Library collections. Terms and definitions”. The standard focuses on terms and definitions within the subject area of “library collection studies, library collections”. The vectors of standard drafting are discussed: outdated standardized definitions are edited; processes structure and contents are changed according to the modern theory and practice related to library collections; concept list for library collection characteristics is expanded; new concepts to describe library activities in digital environment are introduced. The draft standard comprises 170 terms and the alphabet index. The author describes Rosstandardregulated approaches toward national standard development [Rosstandard – Federal Agency on Technical Regulating and Metrology]. The new version key provisions and definitions can be used for references and will support further development of new regulations, methodological documents and instructions for library activities, and library collection studies.