§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 make procedures to check if covered people or groups have a financial interest in, or a biased view toward, products or services bought with, or guaranteed or insured by, funds run by the Department or a Department contractor, and to disclose them. Within 60 days after those procedures exist, the Inspector General must report to the House and Senate Appropriations Committees on the procedures, must do at least one review within 1 year to check they work, and must report any needed changes. "Covered" means Department officers or staff; contractors, subcontractors, or their hires; peer-review panel members; and consultants or advisors.