The Timely Reporting of IP Rights Waivers Act requires the President to submit detailed reports to Congress at least 60 days before negotiating any international agreement that would reduce or restrict U.S. patent, copyright, trademark, trade secret, or plant variety protections. The reports must analyze the potential impacts of proposed negotiations on American intellectual property rights and the overall U.S. IP system. The bill applies to any withdrawal, suspension, waiver, or modification of existing international agreements, as well as entry into new agreements that would substantially weaken IP protections for U.S. citizens, permanent residents, and American companies. There is no dedicated funding specified in the legislation, and the reporting requirement takes effect upon enactment. The bill essentially gives Congress advance notice and information about trade negotiations affecting intellectual property before the administration proceeds.