H.R.1863 - Royalty Transparency Act (119th Congress)
Summary
H.R.1863, the Royalty Transparency Act, aims to increase transparency in the financial disclosures of executive branch employees, particularly concerning royalty income. It mandates that certain government employees and advisory committee members report the source and amount of royalties they receive from inventions developed during their government employment. The bill also requires increased reporting of waivers related to conflicts of interest and mandates reviews of potential conflicts of interest for prospective contractors and grantees.
Expected Effects
The Act will likely lead to greater public awareness of potential conflicts of interest among government employees and contractors. This increased transparency could deter unethical behavior and enhance public trust in government decision-making. The Act also mandates ongoing reviews of potential conflicts of interest related to royalty payments in federal acquisitions.
Potential Benefits
- Increased transparency in government financial disclosures.
- Enhanced public trust through greater accountability.
- Deterrence of potential conflicts of interest among government employees and contractors.
- Improved oversight of royalty payments related to government-funded inventions.
- Strengthened ethical standards in federal acquisitions.
Most Benefited Areas:
Potential Disadvantages
- Increased administrative burden on government agencies to collect and report the required information.
- Potential chilling effect on government service for individuals who receive royalties from inventions.
- Possible privacy concerns related to the public disclosure of royalty information.
- The sunset provision could reduce the long-term effectiveness of the Act.
- Potential for increased reporting requirements to discourage participation on advisory committees.
Constitutional Alignment
The Royalty Transparency Act appears to align with the principles of transparency and accountability, which are implicit in the Constitution's structure. While the Constitution does not explicitly address financial disclosures, the Act's focus on preventing conflicts of interest supports the government's ability to function effectively and maintain public trust. The reporting requirements could be seen as an exercise of Congress's power to oversee the executive branch, as outlined in Article I.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).