The Royalty Transparency Act would require certain executive branch employees and members of named or qualifying public health advisory committees to report royalties from inventions they developed through federal employment. Reports would include the royalty source and amount or value. Agencies would publish certain reports online and identify confidential filers who report royalties. The bill would also require agencies to review royalty payments when checking prospective contractors and grantees for conflicts of interest. The bill is in progress in the Senate.
The bill would make some royalty information available on agency websites. Members of Congress could request copies of financial reports, with specified personal details removed. The bill also requires agencies to report on confidential filings and possible royalty-related conflicts of interest.
The bill does not specify costs or funding.
No publicly available information.
No publicly available information.