Vote Smart's Synopsis:

Vote to pass a bill that extends and expands oversight and disclosure requirements related to foreign sources and institutions of higher education (IHEs).

Highlights:

• Extends and expands oversight and disclosure requirements related to foreign sources and institutions of higher education (IHEs) (Sec. 2).

• Requires an IHE to annually disclose to the Department of Education (ED) any year in which the IHE (Sec. 2):

• Receives a gift from a foreign country of concern (e.g., China or Russia) or foreign entity of concern of any dollar amount;

• Receives a gift or contract from a foreign source (other than a foreign country of concern or foreign entity of concern) that is valued at $50,000 or more, considered alone or in combination with all other gifts or contracts within a calendar year (current disclosure threshold is $250,000 or more), or which has an undetermined monetary value;

• Enters into a contract with a foreign country of concern or foreign entity of concern after receiving a waiver for such contract; or

• Is substantially controlled by a foreign source.

• Specifies that additionally, this bill (Sec. 2):

• Prohibits IHEs from entering into contracts with a foreign country of concern or with a foreign entity of concern without obtaining a waiver,

• Requires certain IHEs to disclose gifts or contracts between covered individuals (e.g., researchers) and foreign sources, and

• Requires private IHEs with specified assets or investments to file annual investment disclosure reports.

• Requires ED to investigate possible violations of this bill and outline the various penalties for each violation. Penalties may include losing eligibility for federal student financial aid (Sec. 2).

Full Bill Text

Full Bill Text