This bill establishes a special disclosure rule requiring institutions of higher education (IHEs) to disclose any gift from or contract with a foreign source that is associated with a covered nation (i.e., North Korea, China, Russia, or Iran).
Under current law, an IHE must disclose to the Department of Education (ED) a gift from or contract with a foreign source that is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with that foreign source. This bill establishes a special disclosure rule relating to foreign sources associated with covered nations. Specifically, the bill requires an IHE to disclose any gift from or contract with a foreign source that is associated with a covered nation, regardless of the amount of the gift or contract.
The bill also directs ED to transmit disclosure reports and related records to the Federal Bureau of Investigation and the Office of the Director of National Intelligence.
