Royalty Transparency Act

Summary

Expands public financial-disclosure and ethics reporting rules for certain federal advisory committee members and tightens conflict-of-interest checks for contractors and grantees by adding royalty payments to review criteria. Requires GAO and federal agencies to publish lists and submit new annual reports to Congress, and updates waiver-notice rules to include specific congressional committees. The bill also sets deadlines (GAO list within 180 days; agency reports start within one year), adds a five-year sunset that narrows the GAO-list requirement, and preserves the rest of the law if any provision is struck down.

• Requires additional federal advisory committee members to file public financial-disclosure reports.
• GAO must list advisory committees that made public-health recommendations implemented in prior 10 years; list due in 180 days and annually for five years.
• Adds statutory changes to how ethics waivers are determined and requires notifying specific congressional committees of waivers.
• Directs FAR Council and OMB to require that contractor/grantee conflict reviews examine royalty payments from the prior year.
• Agencies must send annual reports to designated congressional committees on royalty-related potential conflicts and mitigation actions; intelligence agencies report to intelligence committees.
• Five-year sunset narrows the GAO-list requirement to successors of the enumerated committees after expiration.
• Includes a severability clause so remaining provisions survive if part of the Act is invalidated.
• Intended to increase transparency about financial interests (including royalties) that could influence federal advisory recommendations and contracting.