US SB1553

Amends title 35 of the U.S. Code to reform the Patent Trial and Appeal Board (PTAB), including establishing a code of conduct for members, prohibiting supervisory officers from influencing panel decisions, and barring members who decide to institute a review from hearing the case

Restricts inter partes and post-grant review petitions by requiring petitioners to demonstrate standing (such as being sued for infringement or engaging in potentially infringing conduct), and bars reviews if a federal court or International Trade Commission has already issued a final validity judgment

Raises the evidentiary standard for invalidating patents in PTAB proceedings from "preponderance of evidence" to "clear and convincing evidence" for previously issued claims, applying the same presumption of validity used in federal courts

Establishes "single forum" rules requiring petitioners who initiate PTAB reviews to forfeit the ability to challenge patent validity on the same grounds in federal court or ITC proceedings, and creates estoppel provisions to prevent repetitive challenges

Creates the "United States Patent and Trademark Office Innovation Promotion Fund" as a revolving fund in the Treasury to eliminate fee diversion, ensuring all USPTO-collected fees remain available for patent and trademark operations without fiscal year limitations