Gabriella Miller Kids First Research Act 2.0 This bill modifies funding for, and requires reporting about, a pediatric disease research initiative within the National Institutes of Health (NIH). Currently, this initiative receives funding through FY2023 from the 10-Year Pediatric Research Initiative Fund. This bill directs certain penalties assessed by the Securities and Exchange Commission against pharmaceutical companies for specified violations to that fund. Additionally, the NIH must prioritize pediatric research that does not duplicate existing research activities when making allocations from the fund. The bill also requires the Department of Health and Human Services to report to Congress about the research projects funded through the initiative.