Royalty Transparency Act

S 3664, the Royalty Transparency Act, requires executive branch employees and federal contractors/grant recipients to disclose royalties earned from inventions or other sources. Specifically, it mandates that government employees report royalties from inventions developed during federal employment, and contractors/grant applicants must disclose all royalties received from non-government sources over the past decade. Agencies must publish these reports online within 120 days and provide unredacted copies to Congress within 30 days of a member’s request. The bill overrides existing exemptions under the Stevenson-Wydler Act and Federal Technology Transfer Act to ensure transparency. It directly affects federal employees, contractors, and grant applicants who receive royalties.