§3490 Potential Financial Interests or Impaired Objectivity of Covered Individuals or Entities

Summary

Within 60 days after December 26, 2007, the Secretary of Education must create procedures to check if certain people or groups have a possible financial interest in, or a biased view about, any product or service bought with or backed by Department of Education funds, and to disclose any such interest or bias. The Inspector General must, within 60 days after those procedures begin, report to the House and Senate Appropriations Committees on whether the procedures are adequate. Within 1 year, the Inspector General must do at least one review to make sure the procedures are used and work, and must tell those Committees about any recommended changes. Covered individuals or entities are: an officer or professional employee of the Department of Education; a contractor or subcontractor of the Department, or someone hired by that contractor; a member of a Department peer review panel; and a consultant or advisor to the Department.