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119-s-855119th CongressWALLET

Royalty Transparency Act

Sponsored By: Senator Paul, Rand [R-KY]

In Committee

Summary

This bill expands federal royalty transparency by forcing more executive-branch advisers and employees to report royalties, including payments for inventions developed while working for the government.

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  • Federal employees and advisory committee members will face broader enhanced financial disclosures that specifically require reporting royalties from government-related inventions and other royalty sources; GAO must publish the list of covered committees within 180 days and the expanded category sunsets after 5 years.
  • Agencies must publish annual and special disclosure reports online and provide Members of Congress unredacted copies within 30 days, with redactions limited to sensitive personal information; reports must show the original source and the amount or value of royalties received by the filer or immediate family.
  • Procurement and ethics rules must be updated so conflict-of-interest checks consider royalties paid to prospective contractors in the prior calendar year, and agencies must report identified royalty-related conflicts and mitigation steps starting with an initial report within 60 days and then annually.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 0 costs, 3 mixed.

Yearly agency reports on disclosures

If enacted, each agency would send Congress a report within 60 days and then each year about confidential financial disclosures for the prior fiscal year. Agencies would also, not later than one year after enactment and yearly after that, report how many potential royalty-related conflicts they found and what steps they took to mitigate them. Intelligence agencies must send similar reports to the congressional intelligence committees.

Public posting of royalty disclosures

If enacted, agencies would post financial disclosure reports on their websites and must give a Member of Congress an unredacted copy within 30 days of request. Filers would have to list the original source and amount or value of any royalties received by them, a spouse, or a dependent child, including royalties from inventions tied to government work. Agencies could only redact narrow PII like Social Security numbers, dates of birth, addresses, account numbers, signatures, and dependent PII, and each agency must publish a yearly list naming covered individuals who reported royalties within 180 days of enactment.

New contractor royalty conflict checks

If enacted, OMB and the Federal Acquisition Regulatory Council would update rules so conflict-of-interest reviews for prospective contractors and grantees include royalties paid in the prior calendar year. Agencies would have to report any exemptions or waivers under 18 U.S.C. 208 and certain ethics rules to specified House and Senate committees immediately, with detailed justifications. Supervising ethics offices must also notify named congressional committees when they grant waivers under the enhanced disclosure rules.

More disclosure for advisory committee members

If enacted, members of ten named advisory committees and other GAO-identified public-health advisory panels would need to file stronger financial disclosures. GAO would have to publish a list of covered committees within 180 days and update it each year. The expanded coverage would sunset after five years, and the bill says these rules should not stop advisory committees from doing their normal work.

Sponsors & CoSponsors

Sponsor

Paul, Rand [R-KY]

KY • R

Cosponsors

  • Sen. Scott, Rick [R-FL]

    FL • R

    Sponsored 3/5/2025

Roll Call Votes

No roll call votes available for this bill.

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