Congressmen Flood and Neguse’s Improving Efficiency to Increase Competition Act Receives Companion Bill in the Senate

WASHINGTON, D.C. – Recently, U.S. Congressmen Mike Flood and Joe Neguse (D-CO) introduced the Improving Efficiency to Increase Competition Act. The bill would improve efficiency for intellectual property developed by federal grantees, and reduce the red tape for these grantees, particularly universities, so they can focus on research and development of new ideas and inventions. Today, Senators Chris Coons (D-DE) and Thom Tillis (R-NC) introduced a companion bill in the Senate.

The Improving Efficiency to Increase Competition Act of 2024 would require the U.S. Government Accountability Office’s (GAO) Comptroller General to conduct a study on the disclosure processes for intellectual property developed by federal grantees under the Bayh-Dole Act. The study would include information on existing barriers to efficient reporting, how these barriers have affected the development of new inventions, and opportunities to improve the current reporting system. GAO would be required to inquire how the barriers have affected grantees of various sizes, budgets, geographical locations, and specialties. This legislation will help ensure that different industries and areas of the country are represented in the study. 

“America’s research universities deliver numerous innovations every year with the help of federal funding. We need to make sure grantmaking is customer-friendly for innovators, small businesses, and research institutions to work with the federal government. The Improving Efficiency to Increase Innovation Act will provide key insights into how we can streamline reporting to help researchers focus on innovating. Thank you to Senator Coons, Senator Tillis, and Congressman Neguse for helping lead this bill, and I urge my colleagues to give it quick consideration,” said Rep. Flood.

“We appreciate Congressman Flood’s leadership in looking for ways to remove barriers to new inventions that improve peoples’ lives and grow our economy. Our talented faculty and technology transfer teams should be able to focus on bringing their discoveries to the marketplace rather than navigating government red tape. Congressman Flood’s common-sense legislation can help create a more efficient process for all involved,” said Chris Kabourek, Interim President, University of Nebraska System.

A one-pager on the bill is available here. 

The full bill text is available here.