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TRACK Act of 2023

Source: Congress.gov  ·  1,504 words in original text
This bill requires the Secretary of Health and Human Services and other federal officials to create a searchable database that shows all federal government support for biomedical research and development. The database will be available to the public on the Department of Health and Human Services website so Americans can see how taxpayer money supports medical research.
Federal agencies including the Department of Health and Human Services, National Institutes of Health, Department of Defense and Department of Veterans Affairs. Companies, nonprofit organizations and academic institutions that receive federal funding for medical research and development. The general public who will have access to the database.
• Multiple federal agencies must work together to compile information about all federal contracts, funding agreements, licensing arrangements and tax benefits related to biomedical research into one searchable database (Sec. 2(a)) • The database must include information such as the amount of federal financial support provided, the grant number, associated patents, product names and prices, and the full terms of all agreements related to the research (Sec. 2(c)) • The database must be searchable and filterable by the information categories listed, presented in a user-friendly format, made public within one month of the bill becoming law and updated every two weeks (Sec. 2(d) and 2(e)) • Companies and organizations receiving federal support must disclose all required information to federal officials, or face civil penalties of up to $10,000 per day for failure to disclose within two weeks of being asked (Sec. 2(f))
If this bill becomes law, taxpayers will have public access to detailed information about federal spending on biomedical research that was previously not compiled in one searchable location. Companies and organizations receiving federal research funding will be required to share information about their projects, products and agreements with the government.
"Biomedical research and development" means research and development related to drugs, biological products (living or derived from living sources), cell or gene therapy, or medical devices intended to diagnose, mitigate, prevent, treat or cure any disease or condition (Sec. 2(b)).
The database must be made publicly available not later than one month after the date this Act becomes law (Sec. 2(e)(1)).
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.