S.Amdt. 6117

SA 6117, submitted by Mr. Paul, seeks to add a subtitle called the Royalty Transparency Act to bill S. 4784. The purpose of this amendment is to increase financial transparency and accountability regarding royalties received by executive branch employees and certain advisory committee members.

Key Changes and Additions

• Expanded Financial Disclosures: The amendment requires members of specific boards and committees—such as the National Vaccine Advisory Committee and the President's Council of Advisors on Science and Technology—to file financial disclosure reports. It also allows the Government Accountability Office (GAO) to identify other public health advisory committees that must comply.

• Royalty Reporting: It mandates that reporting individuals, their spouses, and dependent children disclose the original source and value of royalties received from inventions developed during their U.S. Government employment.

• Increased Oversight and Public Access:

  • Agencies must publish these reports on their internet websites.
  • Members of Congress can request unredacted copies of these reports (excluding specific personal data like social security numbers).
  • The GAO is required to review and report on how the National Institutes of Health (NIH) handles conflict-of-interest recusals for peer review groups.

• Waiver Accountability: The amendment requires that any ethics waivers or exemptions be reported to specific House and Senate committees along with a detailed justification.

• Contracting Safeguards: The Federal Acquisition Regulatory Council and the Office of Management and Budget must ensure that conflict of interest reviews for prospective contractors or grantees include royalties paid in the previous calendar year.