‘‘(A) a foreign government, including an 
agency of a foreign government; 
‘‘(B) a legal entity, governmental or other-
wise, created under the laws of a foreign state 
or states; 
‘‘(C) a legal entity, governmental or other-
wise, substantially controlled (as described in 
section 668.174(c)(3) of title 34, Code of Fed-
eral Regulations) (or successor regulations)) by 
a foreign source; 
‘‘(D) a natural person who is not a citizen 
or a national of the United States or a trust 
territory or protectorate thereof; 
‘‘(E) an agent of a foreign source, includ-
ing— 
‘‘(i) a subsidiary or affiliate of a for-
eign legal entity, acting on behalf of a for-
eign source; 
‘‘(ii) a person that operates primarily 
for the benefit of, or under the auspices of, 
a foreign source, including a foundation or 
a related entity (such as any educational, 
cultural, or language entity); and 
‘‘(iii) a person who is an agent of a 
foreign principal (as such term is defined
in section 1 of the Foreign Agents Reg-
istration Act of 1938 (22 U.S.C. 611); and 
‘‘(F) an international organization (as such 
term is defined in the International Organiza-
tions Immunities Act (22 U.S.C. 288)). 
‘‘(5) GIFT.—The term ‘gift’— 
‘‘(A) means any gift of money, property, 
resources, staff, or services; and 
‘‘(B) does not include— 
‘‘(i) any payment of one or more ele-
ments of a student’s cost of attendance (as 
such term is defined in section 472) to an 
institution by, or scholarship from, a for-
eign source who is a natural person, acting 
in their individual capacity and not as an 
agent for, at the request or direction of, or 
on behalf of, any person or entity (except 
the student), made for not more than 15 
students, and that is not made under a re-
stricted or conditional contract with such 
foreign source; or 
‘‘(ii) assignment or license of reg-
istered industrial and intellectual property 
rights, such as patents, utility models, 
trademarks, or copyrights, or technical as-
sistance, that are not associated with a 
category listed in the Commerce Control 
List maintained by the Bureau of Industry 
and Security of the Department of Com-
merce and set forth in Supplement No. 1 
to part 774 of title 15, Code of Federal 
Regulations; or 
‘‘(iii) decorations (as such term is de-
fined in section 7342(a) of title 5, United 
States Code). 
‘‘(6) RESTRICTED
OR
CONDITIONAL
GIFT
OR 
CONTRACT.—The term ‘restricted or conditional gift 
or contract’ means any endowment, gift, grant, con-
tract, award, present, or property of any kind which 
includes provisions regarding— 
‘‘(A) the employment, assignment, or ter-
mination of faculty; 
‘‘(B) the establishment of departments, 
centers, institutes, instructional programs, re-
search or lecture programs, or new faculty posi-
tions; 
‘‘(C) the selection, admission, or education 
of students; 
‘‘(D) the award of grants, loans, scholar-
ships, fellowships, or other forms of financial
aid restricted to students of a specified country, 
religion, sex, ethnic origin, or political opinion; 
or 
‘‘(E) any other restriction on the use of a 
gift or contract.’’. 
(b) PROHIBITION
ON CONTRACTS WITH CERTAIN 
FOREIGN ENTITIES AND COUNTRIES.—Part B of title I 
of the Higher Education Act of 1965 (20 U.S.C. 1011 
et seq.) is amended by inserting after section 117 the fol-
lowing: 
‘‘SEC. 117A. PROHIBITION ON CONTRACTS WITH CERTAIN 
FOREIGN ENTITIES AND COUNTRIES. 
‘‘(a) IN GENERAL.—An institution shall not enter 
into a contract with a foreign country of concern or a for-
eign entity of concern. 
‘‘(b) WAIVERS.— 
‘‘(1) SUBMISSION.— 
‘‘(A) FIRST WAIVER REQUESTS.— 
‘‘(i) IN
GENERAL.—An institution 
that desires to enter into a contract with 
a foreign entity of concern or a foreign 
country of concern may submit to the Sec-
retary, not later than 120 days before the 
institution enters into such a contract, a
request to waive the prohibition under sub-
section (a) with respect to such contract. 
‘‘(ii) CONTENTS
OF
WAIVER
RE-
QUEST.—A waiver request submitted by an 
institution under clause (i) shall include— 
‘‘(I) the complete and unredacted 
text of the proposed contract for 
which the waiver is being requested, 
and if such original contract is not in 
English, a translated copy of the text 
into English (in a manner that com-
plies with section 117(c)); and 
‘‘(II) a statement that— 
‘‘(aa) is signed by the com-
pliance officer of the institution 
designated in accordance with 
section 117(f); and 
‘‘(bb) includes information 
that demonstrates that such con-
tract is for the benefit of the in-
stitution’s mission and students 
and will promote the security, 
stability, and economic vitality of 
the United States. 
‘‘(B) RENEWAL WAIVER REQUESTS.—
‘‘(i) IN
GENERAL.—An institution 
that has entered into a contract pursuant 
to a waiver issued under this section, the 
term of which is longer than the 1-year 
waiver period and the terms and conditions 
of which remain the same as the proposed 
contract submitted as part of the request 
for such waiver may submit, not later than 
120 days before the expiration of such 
waiver period, a request for a renewal of 
such waiver for an additional 1-year period 
(which shall include any information re-
quested by the Secretary). 
‘‘(ii) TERMINATION.—If the institu-
tion fails to submit a request under clause 
(i) or is not granted a renewal under such 
clause, such institution shall terminate 
such contract on the last day of the origi-
nal 1-year waiver period. 
‘‘(2) WAIVER ISSUANCE.—The Secretary— 
‘‘(A) not later than 60 days before an in-
stitution enters into a contract pursuant to a 
waiver request under paragraph (1)(A), or be-
fore a contract described in paragraph (1)(B)(i)
is renewed pursuant to a renewal request under 
such paragraph, shall notify the institution— 
‘‘(i) if the waiver or renewal will be 
issued by the Secretary; and 
‘‘(ii) in a case in which the waiver or 
renewal will be issued, the date on which 
the 1-year waiver period starts; and 
‘‘(B) may only issue a waiver under this 
section to an institution if the Secretary deter-
mines, in consultation with the heads of each 
agency and department listed in section 117(e), 
that the contract for which the waiver is being 
requested is for the benefit of the institution’s 
mission and students and will promote the secu-
rity, stability, and economic vitality of the 
United States. 
‘‘(3) DISCLOSURE.—Not less than 2 weeks 
prior to issuing a waiver under paragraph (2), the 
Secretary shall notify the— 
‘‘(A) the Committee on Education and the 
Workforce of the House of Representatives; and 
‘‘(B) the Committee on Health, Education, 
Labor, and Pensions of the Senate, 
of the intent to issue the waiver, including a jus-
tification for the waiver.
‘‘(4) APPLICATION
OF
WAIVERS.—A waiver 
issued under this section to an institution with re-
spect to a contract shall only— 
‘‘(A) waive the prohibition under sub-
section (a) for a 1-year period; and 
‘‘(B) apply to the terms and conditions of 
the proposed contract submitted as part of the 
request for such waiver. 
‘‘(c) DESIGNATION DURING CONTRACT TERM.—In 
the case of an institution that enters into a contract with 
a foreign source that is not a foreign country of concern 
or a foreign entity of concern but which, during the term 
of such contract, is designated as a foreign country of con-
cern or foreign entity of concern, such institution shall ter-
minate such contract not later than 60 days after the Sec-
retary notifies the institution of such designation. 
‘‘(d) CONTRACTS PRIOR TO DATE OF ENACTMENT.— 
‘‘(1) IN GENERAL.—In the case of an institu-
tion that has entered into a contract with a foreign 
country of concern or foreign entity of concern prior 
to the date of the enactment of the DETERRENT 
Act— 
‘‘(A) the institution shall immediately sub-
mit to the Secretary a waiver request in accord-
ance with subsection (b)(1)(A)(ii); and
‘‘(B) the Secretary shall, upon receipt of 
the request submitted under paragraph (1), im-
mediately issue a waiver to the institution for a 
period beginning on the date on which the waiv-
er is issued and ending on the sooner of— 
‘‘(i) the date that is 1 year after the 
date of the enactment of the DETER-
RENT Act; or 
‘‘(ii) the date on which the contract 
terminates. 
‘‘(2) RENEWAL.—An institution that has en-
tered into a contract described in paragraph (1), the 
term of which is longer than the waiver period de-
scribed in subparagraph (B) of such paragraph and 
the terms and conditions of which remain the same 
as the contract submitted as part of the request re-
quired under subparagraph (A) of such paragraph, 
may submit a request for renewal of the waiver 
issued under such paragraph in accordance with 
subsection (b)(1)(B). 
‘‘(e) CONTRACT DEFINED.—The term ‘contract’ has 
the meaning given such term in section 117(g).’’. 
(c) INTERAGENCY
INFORMATION
SHARING.—Not 
later than 90 days after the date of the enactment of this 
Act, the Secretary of Education shall transmit to the
heads of each agency and department listed in section 
117(e) of the Higher Education Act of 1965, as amended 
by this Act— 
(1) any report received by the Department of 
Education under section 117 of the Higher Edu-
cation Act of 1965 (20 U.S.C. 1011f) prior to the 
date of the enactment of this Act; and 
(2) any report, document, or other record gen-
erated by the Department of Education in the 
course of an investigation— 
(A) of an institution with respect to the 
compliance of such institution with such sec-
tion; and 
(B) initiated prior to the date of the enact-
ment of this Act. 
SEC. 3. POLICY REGARDING CONFLICTS OF INTEREST 
FROM FOREIGN GIFTS AND CONTRACTS. 
The Higher Education Act of 1965 (20 U.S.C. 1001 
et seq.), as amended by section 2 of this Act, is further 
amended by inserting after section 117A the following: 
‘‘SEC. 117B. INSTITUTIONAL POLICY REGARDING FOREIGN 
GIFTS AND CONTRACTS TO FACULTY AND 
STAFF. 
‘‘(a) REQUIREMENT
TO
MAINTAIN
POLICY
AND 
DATABASE.—Beginning not later than 90 days after the
date of the enactment of the DETERRENT Act, each in-
stitution described in subsection (b) shall maintain— 
‘‘(1) a policy requiring covered individuals em-
ployed at the institution to disclose in a report to 
such institution on July 31 of each calendar year 
that begins after the year in which such enactment 
date occurs— 
‘‘(A) any gift received from a foreign 
source in the previous calendar year, the value 
of which is greater than the minimal value (as 
such term is defined in section 7342(a) of title 
5, United States Code) or is of undetermined 
value, and including the date on which the gift 
was received; 
‘‘(B) any contract entered into with a for-
eign source in the previous calendar year, the 
value of which is $5,000 or more, considered 
alone or in combination with all other contracts 
with that foreign source within the calendar 
year, and including the date on which such con-
tract commences and, as applicable, the date on 
which such contract terminates; 
‘‘(C) any contract with a foreign source in 
force during the previous calendar year that has 
an undetermined monetary value, and including
the date on which such contract commences 
and, as applicable, the date on which such con-
tract terminates; and 
‘‘(D) any contract entered into with a for-
eign country of concern or foreign entity of con-
cern in the previous calendar year, the value of 
which is $0 or more, and including the begin-
ning and ending dates of such contract and the 
full text of such contract and any addenda; 
‘‘(2) a publicly available and searchable data-
base (in electronic and downloadable format), on a 
website of the institution, of the information re-
quired to be disclosed under paragraph (1) (other 
than the name or any other personally identifiable 
information of a covered individual) that— 
‘‘(A) makes available the information dis-
closed under paragraph (1) (other than the 
name or any other personally identifiable infor-
mation of a covered individual) beginning on 
the date that is 30 days after receipt of the re-
port under such paragraph containing such in-
formation and until the latest of— 
‘‘(i) the date that is 5 years after the 
date on which—
‘‘(I) a gift referred to in para-
graph (1)(A) is received; or 
‘‘(II) a contract referred to in 
subparagraph (B), (C) or (D) of para-
graph (1) begins; or 
‘‘(ii) the date on which a contract re-
ferred to in subparagraph (B), (C) or (D) 
of paragraph (1) terminates; and 
‘‘(B) is searchable and sortable by— 
‘‘(i) the date received (if a gift) or the 
date commenced (if a contract); 
‘‘(ii) the attributable country with re-
spect to which information is being dis-
closed; 
‘‘(iii) the narrowest of the depart-
ment, school, or college of the institution, 
as applicable, for which the individual 
making the disclosure works; and 
‘‘(iv) the name of the foreign source 
(other than a foreign source who is a nat-
ural person); and 
‘‘(3) an effective plan to identify and manage 
potential information gathering by foreign sources 
through espionage targeting covered individuals that 
may arise from gifts received from, or contracts en-
tered into with, a foreign source, including through 
the use of— 
‘‘(A) periodic communications; 
‘‘(B) accurate reporting under paragraph 
(2) of the information required to be disclosed 
under paragraph (1); and 
‘‘(C) enforcement of the policy described in 
paragraph (1); and 
‘‘(4) for purposes of investigations under sec-
tion 117D(a)(1) or responses to requests under sec-
tion 552 of title 5, United States Code (commonly 
known as the ‘Freedom of Information Act’), the 
names of the individuals making disclosures under 
paragraph (1). 
‘‘(b) INSTITUTIONS.—An institution shall be subject 
to the requirements of this section if such institution— 
‘‘(1) is an eligible institution for the purposes 
of any program authorized under title IV; and 
‘‘(2)(A) received more than $50,000,000 in 
Federal funds in any of the previous five calendar 
years to support (in whole or in part) research and 
development (as determined by the institution and 
measured by the Higher Education Research and 
Development Survey of the National Center for 
Science and Engineering Statistics); or
‘‘(B) receives funds under title VI. 
‘‘(c) DEFINITIONS.—In this section— 
‘‘(1) the terms ‘foreign source’ and ‘gift’ have 
the meanings given such terms in section 117(g); 
‘‘(2) the term ‘contract’— 
‘‘(A) means any— 
‘‘(i) agreement for the acquisition, by 
purchase, lease, or barter, of property or 
services by a foreign source; 
‘‘(ii) affiliation, agreement, or similar 
transaction with a foreign source involving 
the use or exchange of the name, likeness, 
time, services, or resources of covered indi-
viduals employed at an institution de-
scribed in subsection (b); or 
‘‘(iii) purchase, lease, or barter of 
property or services from a foreign source 
that is a foreign country of concern or a 
foreign entity of concern; and 
‘‘(B) does not include any fair-market, 
arms-length agreement made by covered indi-
viduals for the acquisition, by purchase, lease, 
or barter of property or services from a foreign 
source other than such a foreign source that is
a foreign country of concern or a foreign entity 
of concern; and 
‘‘(3) the term ‘covered individual’— 
‘‘(A) has the meaning given such term in 
section 223(d) of the William M. (Mac) Thorn-
berry National Defense Authorization Act for 
Fiscal Year 2021 (42 U.S.C. 6605); and 
‘‘(B) shall be interpreted in accordance 
with the Guidance for Implementing National 
Security Presidential Memorandum 33 (NSPM– 
33) on National Security Strategy for United 
States Government-supported Research and De-
velopment published by the Subcommittee on 
Research Security and the Joint Committee on 
the Research Environment in January 2022.’’. 
SEC. 4. INVESTMENT DISCLOSURE REPORT. 
The Higher Education Act of 1965 (20 U.S.C. 1001 
et seq.), as amended by section 3 of this Act, is further 
amended by inserting after section 117B the following: 
‘‘SEC. 117C. INVESTMENT DISCLOSURE REPORT. 
‘‘(a) INVESTMENT DISCLOSURE REPORT.—A speci-
fied institution shall file a disclosure report in accordance 
with subsection (b) with the Secretary on July 31 imme-
diately following any calendar year in which the specified 
institution purchases, sells, or holds (directly or indirectly
through any chain of ownership) one or more investments 
of concern. 
‘‘(b) CONTENTS OF REPORT.—Each report to the 
Secretary required by subsection (a) with respect to any 
calendar year shall contain the following: 
‘‘(1) A list of the investments of concern pur-
chased, sold, or held during such calendar year. 
‘‘(2) The aggregate fair market value of all in-
vestments of concern held as of the close of such cal-
endar year. 
‘‘(3) The combined value of all investments of 
concern sold over the course of such calendar year, 
as measured by the fair market value of such invest-
ments at the time of the sale. 
‘‘(4) The combined value of all capital gains 
from such sales of investments of concern. 
‘‘(c) INCLUSION OF CERTAIN POOLED FUNDS.— 
‘‘(1) IN GENERAL.—An investment of concern 
acquired through a regulated investment company, 
exchange traded fund, or any other pooled invest-
ment shall be treated as acquired through a chain of 
ownership referred to in subsection (a), unless such 
pooled investment is certified by the Secretary as 
not holding any listed investments in accordance 
with subparagraph (B) of paragraph (2).