Royalty Transparency Act: Increased Disclosure for Government Employees
This act enhances financial transparency for government employees and advisory committee members, particularly those involved in public health. Citizens will have easier access to information about whether officials receive royalties from inventions developed during their government service, potentially impacting public trust in policy decisions.
Key points
Federal employees and members of key advisory committees (e.g., on vaccinations, biosecurity) must disclose royalties received from inventions created during their government employment.
Royalty information will be publicly available on agency websites, increasing transparency and allowing citizens to scrutinize potential conflicts of interest.
The act mandates reporting to Congress on waivers from disclosure requirements and on potential royalty-related conflicts of interest in federal acquisitions.
Agencies must publish lists of individuals filing confidential financial disclosures who receive royalties, including the source and value of these royalties.
Status:
Placed on Calendar
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