Bill > HR1863

This bill requires executive branch employees and members of specific advisory committees to report royalties they, their spouse, or dependent children receive from inventions developed during their government employment. The bill expands financial disclosure requirements to include detailed information about the original source and value of these royalties, which must be reported on annual financial disclosure forms. Additionally, agencies will be required to publish an annual online report listing the names of employees who have received such royalties and the specific amounts. The legislation also mandates that the Federal Acquisition Regulatory Council update conflict of interest review processes to include examining royalty payments to potential contractors and grantees. Agencies must report annually to congressional committees about potential conflicts of interest related to royalty payments and steps taken to mitigate those risks. The bill includes provisions to protect the confidentiality of certain personal information when these reports are shared, and it applies to a wide range of advisory committees, including those related to science, health, and technology. The provisions are set to be in effect for five years, after which some reporting requirements will be modified. The bill aims to increase transparency and prevent potential conflicts of interest among government employees and advisors.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/1863/all-info