The Royalty Transparency Act requires federal executive branch employees, including special government employees, to disclose royalties they receive as a result of inventions developed while working for the government, and mandates that agencies publish these financial disclosure reports online, overriding existing confidentiality protections for such information. The bill also extends disclosure requirements to members of certain federal advisory committees that make public health recommendations, such as vaccine advisory boards and science advisory panels, with the Government Accountability Office identifying which committees qualify. Agencies must provide unredacted copies of these reports to members of Congress within 30 days of a request, and must submit annual reports to congressional oversight committees detailing confidential disclosure filings and any conflicts of interest related to royalty payments uncovered during contractor and grantee reviews. The legislation directs federal agencies to update conflict-of-interest review procedures to account for royalties paid to prospective contractors or grantees. Several provisions include specific timelines, such as 60, 120, and 180-day deadlines for initial reports and rules, with some requirements sunsetting after five years unless renewed.
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