Royalty Transparency Act

The Royalty Transparency Act would expand financial disclosure requirements for federal employees and members of public health advisory committees. Specifically, it would require these individuals to report any royalty payments they receive from inventions developed during government employment, including the source and amount of such payments. The bill would also require federal agencies to annually publish the names of employees receiving royalties and the details of those payments on their websites, and would mandate that agencies consider royalty information when evaluating potential conflicts of interest in federal contracts and grants. Additionally, the Government Accountability Office would determine which advisory committees must comply with the reporting requirements. If enacted, the bill would establish new transparency mechanisms around government employee financial interests, though it would also create administrative costs for federal agencies estimated at approximately 16 million dollars over five years. The bill has passed committee review and is eligible for a floor vote, though passage is not guaranteed.