Referred to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Royalty Transparency Act requires executive branch employees and members of certain federal advisory committees to disclose royalties they receive from inventions developed during their government employment. The bill expands who must file financial disclosure reports and mandates that agencies publish these royalty disclosures on their websites, making them accessible to the public and to Congress. It also requires the Government Accountability Office to identify relevant advisory committees within 180 days and annually thereafter, and directs federal agencies to review whether royalty payments create conflicts of interest when awarding contracts or grants. Additionally, the bill requires executive ethics offices to notify Congress whenever they grant waivers from conflict-of-interest rules, with detailed justifications for those waivers. Most provisions expire five years after enactment, though the core royalty disclosure requirements for executive branch employees remain permanent.
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