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TRACK Act of 2023

Source: Congress.gov  ·  1,676 words in original text
This bill directs federal health officials to create a searchable online database showing how the government has funded biomedical (medical and biological science) research and development. The database will be available to the public on the Department of Health and Human Services website and will include information about contracts, grants, licensing deals and tax benefits related to drug, therapy and medical device development. (Sec. 2(a))
* Federal officials at the Department of Health and Human Services * The National Institutes of Health * The Department of Defense * The Department of Veterans Affairs * Companies, nonprofits and academic institutions that receive federal support for biomedical research * American taxpayers and members of the public who access the database
* Federal officials must compile a searchable database showing all federal contracts, funding agreements, licensing arrangements and tax benefits related to biomedical research and make it available on the Department of Health and Human Services public website. (Sec. 2(a)) * The database must include the amount of federal funding, the entity receiving the support, any products developed with federal help and their prices, associated patents, and the full terms of agreements. (Sec. 2(c)) * The database must be searchable by different categories and presented in a user-friendly format. (Sec. 2(d)) * The database must be made publicly available within one month of the law taking effect and updated at least every two weeks. (Sec. 2(e)) * Entities receiving federal support must disclose information needed for the database or face penalties up to $10,000 per day for failing to provide information within two weeks of a request. (Sec. 2(f))
If this becomes law, the federal government will create and maintain a public database that shows taxpayers where their money goes in biomedical research. Currently, this information exists across many different federal agencies without a single searchable location. This database will allow anyone to search for details about specific drugs, devices, companies or research projects that received federal funding.
* Biomedical research and development: Research and development involving drugs (including biological products), cell or gene therapies, or medical devices designed to diagnose, treat, prevent, cure or reduce the effects of diseases or conditions. (Sec. 2(b)) * Biological product: Not explicitly defined in the bill text. * Tax benefits: Not explicitly defined in the bill text.
The database must be made publicly available no later than one month after the law takes effect. (Sec. 2(e))
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.