HR 1162: Science Prize Competitions Act

Amends the Stevenson-Wydler Technology Innovation Act of 1980 regarding prize competitions, allowing an agency to waive liability insurance requirements for participants.

Allows an agency to enter into a grant, contract, cooperative agreement, or other agreement with a private sector for-profit as well as a nonprofit entity (as under current law) to administer a prize competition.

Permits the use of funds from private sector for-profit entities to support a prize competition.

Prohibits an agency from giving special consideration to any private sector for-profit entity in return for a donation.

Limits the use of federal funds to those made available by appropriations Acts.

HR 1162 is sponsored by Rep. Dan Beyers. It passed the House on May 19, 2015.