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RPIP-40 replaces RPIP-26 which describes the guiding principles, selection of, operation of, and governance of the Grants and Bounties Management Committee. RPIP-40 includes changes that increase the GMC's operational efficiency.
The conflict of interests section does not allow GMC members to fulfill their regular duties, and it has been a recurring issue for the GMC. Under this rule, the GMC has hit periods where it has been forced to make less informed decisions with fewer committee members present. Other changes make minor improvements to efficiency and fix issues introduced in the last update.
If this passes, it replaces RPIP-26 with RPIP-40, which will make minor changes to how the GMC operates.
Please read the full RPIP here.