Bill > HR1162

This bill, the Science Prize Competitions Act, amends the Stevenson-Wydler Technology Innovation Act of 1980 to streamline and expand the use of prize competitions, which are challenges designed to incentivize innovation and problem-solving. Key provisions include allowing government agencies to waive liability insurance requirements for participants in these competitions, and permitting agencies to partner with both for-profit and nonprofit private sector entities to administer them. The bill also clarifies that funds from for-profit private entities can be used to support prize competitions, but explicitly prohibits agencies from giving any special consideration to a for-profit entity in exchange for a donation. Furthermore, it limits the use of federal funds for these competitions to those specifically made available through appropriations Acts.