IIB 
119TH CONGRESS 
1ST SESSION H. R. 1048 
IN THE SENATE OF THE UNITED STATES 
MARCH 31, 2025 
Received; read twice and referred to the Committee on Health, Education, 
Labor, and Pensions 
AN ACT 
To amend the Higher Education Act of 1965 to strengthen 
disclosure requirements relating to foreign gifts and con- 
tracts, to prohibit contracts between institutions of high- 
er education and certain foreign entities and countries 
of concern, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Defending Education 
Transparency and Ending Rogue Regimes Engaging in 
Nefarious Transactions Act’’ or the ‘‘DETERRENT 
Act’’. 
SEC. 2. DISCLOSURES OF FOREIGN GIFTS. 
(a) IN GENERAL.—Section 117 of the Higher Edu-
cation Act of 1965 (20 U.S.C. 1011f) is amended to read 
as follows: 
‘‘SEC. 117. DISCLOSURES OF FOREIGN GIFTS. 
‘‘(a) DISCLOSURE REPORTS.— 
‘‘(1) AGGREGATE GIFTS AND CONTRACT DIS-
CLOSURES.—An institution shall file with the Sec-
retary, in accordance with subsection (b)(1), a dis-
closure report on July 31 of the calendar year imme-
diately following any calendar year in which— 
‘‘(A) the institution receives a gift from, or 
enters into a contract with, a foreign source 
(other than a foreign country of concern or for-
eign entity of concern)— 
‘‘(i) the value of which is $50,000 or 
more, considered alone or in combination 
with all other gifts from, or contracts with, 
that foreign source within the calendar 
year; or 
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‘‘(ii) the value of which is indetermi-
nate; or 
‘‘(B) the institution— 
‘‘(i) receives a gift from a foreign 
country of concern or foreign entity of con-
cern, without regard to the value of such 
gift; or 
‘‘(ii) upon receiving a waiver under 
section 117A to enter into a contract with 
such a country or entity, enters into such 
contract, without regard to the value of 
such contract. 
‘‘(2) FOREIGN
SOURCE
OWNERSHIP
OR
CON-
TROL
DISCLOSURES.—Notwithstanding paragraph 
(1), in the case of an institution that is substantially 
controlled (as described in section 668.174(c)(3) of 
title 34, Code of Federal Regulations) (or successor 
regulations)) by a foreign source, the institution 
shall file with the Secretary, in accordance with sub-
section (b)(2), a disclosure report on July 31 of each 
year. 
‘‘(3) TREATMENT OF AFFILIATED ENTITIES.— 
For purposes of this section, any gift to, or contract 
with, an affiliated entity of an institution shall be 
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considered a gift to, or contract with, respectively, 
such institution. 
‘‘(b) CONTENTS OF REPORT.— 
‘‘(1) GIFTS AND CONTRACTS.—Each report to 
the Secretary required under subsection (a)(1) shall 
include the following: 
‘‘(A) With respect to a gift received from, 
or a contract entered into with, any foreign 
source— 
‘‘(i) the name of the individual, de-
partment, or other entity at the institution 
receiving the gift or carrying out the con-
tract on behalf of the institution; 
‘‘(ii) any intended purpose of the gift 
or contract communicated to the institu-
tion by the foreign source, and, as of the 
date of filing such report, the manner in 
which the institution intends to use such 
gift or contract; 
‘‘(iii) in the case of a restricted or 
conditional gift or contract, a description 
of each restriction or condition that meets 
the definition of the term ‘restricted or 
conditional gift or contract’ in subsection 
(f); 
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‘‘(iv) with respect to such a gift— 
‘‘(I) the total fair market dollar 
amount or dollar value of the gift, as 
of the date of submission of such re-
port; and 
‘‘(II) the date on which the insti-
tution received such gift; 
‘‘(v) with respect to such a contract— 
‘‘(I) the total fair market dollar 
amount or dollar value of the con-
tract, as of the date of submission of 
such report; 
‘‘(II) the date on which the insti-
tution enters into such contract; 
‘‘(III) the date on which such 
contract first takes effect; 
‘‘(IV) if the contract has a termi-
nation date, such termination date; 
and 
‘‘(V) an assurance that the insti-
tution will— 
‘‘(aa) 
maintain 
an 
unredacted copy of the contract 
until the latest of— 
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‘‘(AA) the date that is 
5 years after the date on 
which such contract first 
takes effect; 
‘‘(BB) 
the 
date 
on 
which the contract termi-
nates; or 
‘‘(CC) the last day of 
any period that applicable 
State law requires a copy of 
such contract to be main-
tained; and 
‘‘(bb) upon request of the 
Secretary during an investigation 
under 
section 
117D(a)(1), 
produce such an unredacted copy 
of the contract. 
‘‘(B) With respect to a gift received from, 
or a contract entered into with, a foreign source 
that is a foreign government (other than the 
government of a foreign country of concern)— 
‘‘(i) the name of such foreign govern-
ment; 
‘‘(ii) the department, agency, office, 
or division of such foreign government that 
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approved such gift or contract, as applica-
ble; and 
‘‘(iii) the physical mailing address of 
such department, agency, office, or divi-
sion. 
‘‘(C) With respect to a gift received from, 
or contract entered into with, a foreign source 
other than a foreign government subject to the 
requirements of subparagraph (B)— 
‘‘(i)(I) the legal name of the foreign 
source; or 
‘‘(II) in the case of a gift received 
from a foreign source that awarded such 
gift to the institution as an agent de-
scribed in subsection (f)(4)(G) on behalf of 
another foreign source— 
‘‘(aa) the legal name of the for-
eign source that awarded such gift; 
and 
‘‘(bb) the legal name of the for-
eign source on whose behalf the gift 
was awarded, or a statement certified 
by a compliance officer in accordance 
with section 117D(c) that the institu-
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tion has reasonably attempted to ob-
tain such name; 
‘‘(ii) in the case of a foreign source 
that is a natural person, each country of 
citizenship of such person, or, if no such 
country is known, the principal country of 
residence of such person; 
‘‘(iii) in the case of a foreign source 
that is a legal entity, the country in which 
such entity is incorporated, or, if such in-
formation is not available, the principal 
place of business of such entity; 
‘‘(iv) the physical mailing address of 
such foreign source, or, if such address is 
not available, a statement certified by a 
compliance officer in accordance with sec-
tion 117D(c) that the institution has rea-
sonably attempted to obtain such address; 
and 
‘‘(v) any affiliation of the foreign 
source to an organization that is des-
ignated as a foreign terrorist organization 
pursuant to section 219 of the Immigra-
tion and Nationality Act (8 U.S.C. 1189). 
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‘‘(II) the last day of any period 
that applicable State law requires a 
copy of such documentation to be 
maintained; and 
‘‘(ii) upon request of the Secretary 
during an investigation under section 
117D(a)(1), produce such documentation; 
‘‘(2) FOREIGN
SOURCE
OWNERSHIP
OR
CON-
TROL.—Each report to the Secretary required under 
subsection (a)(2) shall contain— 
‘‘(A) the information required under para-
graph (1) of this subsection; 
‘‘(B) the legal name and the mailing ad-
dress of the foreign source that substantially 
controls the institution as described in such 
subsection; 
‘‘(C) the date on which the foreign source 
assumed such substantial control; and 
‘‘(D) any changes in program or structure 
of the institution of higher education resulting 
from such substantial control. 
‘‘(c) TRANSLATION REQUIREMENTS.—Any informa-
tion required to be disclosed under this section, or re-
quested by the Secretary pursuant to an investigation 
under section 117D(a)(1), with respect to a gift or con-
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tract that is not in English shall be translated into 
English, for purposes of such disclosure or such investiga-
tion, by a person that is not— 
‘‘(1) a foreign source that awarded such gift or 
entered into such contract; or 
‘‘(2) any other foreign source from an attrib-
utable country of a foreign source referred to in 
paragraph (1). 
‘‘(d) PUBLIC INSPECTION.— 
‘‘(1) DATABASE REQUIREMENT.—Beginning not 
later than May 31 of the calendar year following the 
date of enactment of the DETERRENT Act, the 
Secretary shall— 
‘‘(A) establish and maintain a searchable 
database on a website of the Department, under 
which all reports submitted under this section 
(including, to the extent practicable, any report 
submitted under this section before the date of 
enactment of the DETERRENT Act)— 
‘‘(i) are made publicly available (in 
electronic and downloadable format), in-
cluding any information provided in such 
reports (other than the information prohib-
ited from being publicly disclosed pursuant 
to paragraph (2)); 
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‘‘(ii) can be individually identified and 
compared; and 
‘‘(iii) to the extent practicable, are 
searchable and sortable— 
‘‘(I) by the institution that filed 
such report; 
‘‘(II) by the date on which the in-
stitution filed such report; 
‘‘(III) by the date on which the 
institution received the gift which is 
the subject of the report; 
‘‘(IV) by the date on which the 
institution enters into the contract 
which is the subject of the report; 
‘‘(V) by the date on which such 
contract first takes effect; 
‘‘(VI) by the attributable country 
of such gift or contract; 
‘‘(VII) by the name of the foreign 
source; 
‘‘(VIII) by the information de-
scribed in subparagraph (C)(i); and 
‘‘(IX) by the information de-
scribed in subparagraph (C)(ii); 
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‘‘(B) not later than 30 days after receipt 
of a disclosure report under this section, include 
such report in such database; 
‘‘(C) indicate, as part of the public record 
of a report included in such database, whether 
the report is with respect to a gift received 
from, or a contract entered into with— 
‘‘(i) a foreign source that is a foreign 
government; or 
‘‘(ii) a foreign source that is not a for-
eign government; and 
‘‘(D) with respect to a disclosure report 
that does not include the name or address of a 
foreign source, indicate, as part of the public 
record of such report included in such database, 
that such report did not include such informa-
tion. 
‘‘(2) APPLICATION OF FEDERAL PRIVACY LAW; 
PROTECTIONS FOR NATURAL PERSONS.— 
‘‘(A) APPLICATION OF FEDERAL PRIVACY 
LAW.—Except as provided in subparagraph (B), 
a disclosure report filed pursuant to this section 
is not subject to Federal privacy law (including 
any exemption from disclosure described in sec-
tion 552(b) of title 5, United States Code)). 
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‘‘(B) PROTECTIONS
FOR
NATURAL
PER-
SONS.— 
‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (ii), with respect to a dis-
closure report filed under this section, the 
name or address (other than the attrib-
utable country) of a foreign source that is 
a natural person— 
‘‘(I) may not be publicly dis-
closed; and 
‘‘(II) is exempt from disclosure 
under subsection (b)(3) of section 552 
of title 5, United States Code (com-
monly referred to as the Freedom of 
Information Act). 
‘‘(ii) EXCEPTIONS
FOR
CONTRACTS 
WITH A FOREIGN COUNTRY OF CONCERN 
OR
FOREIGN
ENTITY
OF
CONCERN.— 
Clause (i) shall not apply to a disclosure 
report filed pursuant to this section that 
contains information with respect to a con-
tract described in subsection (a)(1)(B)(ii) 
entered into with a foreign country of con-
cern or foreign entity of concern. 
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‘‘(e) INTERAGENCY INFORMATION SHARING.—Not-
withstanding any other provision of law, not later than 
30 days after receiving a disclosure report from an institu-
tion in compliance with this section, the Secretary shall 
transmit an unredacted copy of such report (including the 
name and address of a foreign source disclosed in such 
report) to the Director of the Federal Bureau of Investiga-
tion, the Director of National Intelligence, the Director 
of the Central Intelligence Agency, the Secretary of State, 
the Secretary of Defense, the Attorney General, the Sec-
retary of Commerce, the Secretary of Homeland Security, 
the Secretary of Energy, the Director of the National 
Science Foundation, and the Director of the National In-
stitutes of Health. 
‘‘(f) DEFINITIONS.—In this section: 
‘‘(1) AFFILIATED ENTITY.—The term ‘affiliated 
entity’, when used with respect to an institution, 
means an entity or organization that operates pri-
marily for the benefit of, or under the auspices of, 
such institution, such as a foundation of the institu-
tion, or an educational, cultural, or language entity. 
‘‘(2) ATTRIBUTABLE COUNTRY.—The term ‘at-
tributable country’ means— 
‘‘(A) the country of citizenship of a foreign 
source who is a natural person, or, if such 
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country is unknown, the principal residence of 
such foreign source; or 
‘‘(B) the country of incorporation of a for-
eign source that is a legal entity, or, if such 
country is unknown, the principal place of busi-
ness (as applicable) of such foreign source. 
‘‘(3) CONTRACT.—The term ‘contract’— 
‘‘(A) means— 
‘‘(i) any agreement for the acquisition 
by purchase, lease, or barter of property 
(including intellectual property) or services 
by the foreign source; 
‘‘(ii) except as provided in subpara-
graph (B)(ii), any agreement for the acqui-
sition by purchase, lease, or barter of prop-
erty (including intellectual property) or 
services from a foreign source; and 
‘‘(iii) any affiliation, agreement, or 
similar transaction with a foreign source 
that involves the use or exchange of an in-
stitution’s name, likeness, time, services, or 
resources; and 
‘‘(B) does not include— 
‘‘(i) an agreement made between an 
institution and a foreign source regarding 
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any payment of one or more elements of a 
student’s cost of attendance (as such term 
is defined in section 472), unless such an 
agreement is made for more than 15 stu-
dents or is made under a restricted or con-
ditional contract; 
‘‘(ii) an arms-length agreement for 
the acquisition by purchase, lease, or bar-
ter of property (including intellectual prop-
erty) or services from a foreign source that 
is not a foreign country of concern or a 
foreign entity of concern; or 
‘‘(iii) any assignment or license of a 
granted intellectual property right (includ-
ing a patent, trademark, or copyright) that 
is not associated with a category listed in 
the Commerce Control List maintained by 
the Bureau of Industry and Security of the 
Department of Commerce and set forth in 
Supplement No. 1 to part 774 of title 15, 
Code of Federal Regulations (or successor 
regulations). 
‘‘(4) FOREIGN
SOURCE.—The term ‘foreign 
source’ means— 
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‘‘(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 international organization (as 
such term is defined in the International Orga-
nizations Immunities Act (22 U.S.C. 288)); 
‘‘(F) a person who is an agent of a foreign 
principal (as such term is defined in section 1 
of the Foreign Agents Registration Act of 1938 
(22 U.S.C. 611)); and 
‘‘(G) an agent of any of the entities de-
scribed in subparagraphs (A) through (F), in-
cluding— 
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‘‘(i) a subsidiary or affiliate of a for-
eign legal entity, acting on behalf of such 
an entity; and 
‘‘(ii) a person that operates primarily 
for the benefit of, or under the auspices of, 
such an entity, such as a foundation of 
such entity, or an educational, cultural, or 
language entity. 
‘‘(5) GIFT.—The term ‘gift’— 
‘‘(A) means any gift of money, property 
(including 
intellectual 
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; 
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‘‘(ii) any assignment or license of a 
granted intellectual property right (includ-
ing a patent, trademark, or copyright) that 
is not associated with a category listed in 
the Commerce Control List maintained by 
the Bureau of Industry and Security of the 
Department of Commerce and set forth in 
Supplement No. 1 to part 774 of title 15, 
Code of Federal Regulations (or successor 
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 (including intellec-
tual property) of any kind which includes provisions 
regarding— 
‘‘(A) the employment, assignment, or ter-
mination of faculty; 
‘‘(B) the establishment of, or the provision 
of funding for, departments, centers, institutes, 
instructional programs, research or lecture pro-
grams, or new faculty positions; 
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‘‘(B) apply to the terms and conditions of 
the proposed contract submitted as part of the 
request for such waiver. 
‘‘(2) 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— 
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‘‘(aa) is certified by a com-
pliance officer of the institution 
designated in accordance with 
section 117D(c); and 
‘‘(bb) includes information 
that demonstrates that such con-
tract— 
‘‘(AA) is for the benefit 
of the institution’s mission 
and students; and 
‘‘(BB) will promote the 
security, stability, and eco-
nomic vitality of the United 
States. 
‘‘(B) RENEWAL WAIVER REQUESTS.— 
‘‘(i) IN
GENERAL.—An institution 
that, pursuant to a waiver issued under 
this section, has entered into a contract, 
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 
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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. 
‘‘(3) 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 (2)(A), or be-
fore a contract described in paragraph (2)(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 each individual list-
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ed in section 117(e), that the contract for which 
the waiver is being requested— 
‘‘(i) is for the benefit of the institu-
tion’s mission and students; and 
‘‘(ii) will promote the security, sta-
bility, and economic vitality of the United 
States. 
‘‘(4) DISCLOSURE.—Not less than 2 weeks 
prior to issuing a waiver under paragraph (2), the 
Secretary shall notify the authorizing committees of 
the intent to issue the waiver, including a justifica-
tion for the 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 
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to the date of enactment of the DETERRENT 
Act— 
‘‘(A) the institution shall as soon as prac-
ticable, but not later than 30 days after such 
date of enactment, submit to the Secretary a 
waiver request in accordance with clause (ii) of 
subsection (b)(2)(A); and 
‘‘(B) the Secretary shall, upon receipt of 
the request submitted under such clause, issue 
a waiver to the institution for a period begin-
ning on the date on which the waiver is issued 
and ending on the sooner of— 
‘‘(i) the date that is 1 year after the 
date of enactment of the DETERRENT 
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 
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issued under such paragraph in accordance with 
subsection (b)(2)(B). 
‘‘(e) CONTRACT DEFINED.—The term ‘contract’ has 
the meaning given such term in section 117(f).’’. 
(c) INTERAGENCY INFORMATION SHARING.—Not-
withstanding any other provision of law, not later than 
90 days after the date of enactment of this Act, the Sec-
retary of Education shall transmit to each individual listed 
in section 117(e) of the Higher Education Act of 1965, 
as amended by this Act— 
(1) an unredacted copy of each report (includ-
ing the name and address of a foreign source dis-
closed in such 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 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 enactment 
of this Act. 
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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 the preceding section, 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 enactment of the DETERRENT Act, each institu-
tion described in subsection (b) shall maintain— 
‘‘(1) a policy requiring covered individuals at 
the institution and covered individuals at affiliated 
entities of the institution to disclose in a report to 
such institution by 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 indeterminate 
value, and including the date on which the gift 
was received; 
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‘‘(B) any contract with a foreign source 
(other than a foreign country of concern or for-
eign entity of concern) entered into or in effect 
during 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 in-
cluding the date on which such contract is en-
tered into, the date on which the contract first 
takes effect, and, as applicable, the date on 
which such contract terminates; 
‘‘(C) any contract with a foreign source 
(other than a foreign country of concern or for-
eign entity of concern) entered into or in effect 
during the previous calendar year that has an 
indeterminate monetary value, and including 
the date on which such contract is entered into, 
the date on which the contract first takes ef-
fect, and, as applicable, the date on which such 
contract terminates; and 
‘‘(D) any contract entered into or in effect 
with a foreign country of concern or foreign en-
tity of concern during the previous calendar 
year, the value of which is $0 or more or which 
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has an indeterminate monetary value, and in-
cluding— 
‘‘(i) the date on which such contract 
is entered into; 
‘‘(ii) the date on which the contract 
first takes effect; 
‘‘(iii) if the contract has a termination 
date, such termination date; and 
‘‘(iv) 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 information prohibited from public disclo-
sure pursuant to subsection (c)) that— 
‘‘(A) makes available the information dis-
closed under paragraph (1) (other than the in-
formation prohibited from public disclosure pur-
suant to subsection (c)) beginning on the date 
that is 30 days after receipt of the report under 
such paragraph containing such information 
and until the latest of— 
‘‘(i) the date that is 5 years after the 
date on which— 
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‘‘(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) first takes effect; 
‘‘(ii) the date on which a contract re-
ferred to in subparagraph (B), (C) or (D) 
of paragraph (1) terminates; or 
‘‘(iii) the last day of any period that 
applicable State law requires a copy of 
such contract to be maintained; and 
‘‘(B) is searchable and sortable— 
‘‘(i) if the subject of the disclosure is 
a gift, by the date on which the gift is re-
ceived; 
‘‘(ii) if the subject of the disclosure is 
a contract— 
‘‘(I) by the date on which such 
contract is entered into; and 
‘‘(II) by the date on which such 
contract first takes effect; 
‘‘(iii) by the attributable country with 
respect to which information is being dis-
closed; 
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‘‘(iv)(I) if the covered individual at an 
institution is making the disclosure, by the 
most specific division of the institution 
(such as the department, school, or college) 
that the covered individual is at; and 
‘‘(II) if the covered individual at the 
affiliated entity of the institution is making 
the disclosure, by the name of such affili-
ated entity; 
‘‘(v) by the name of the foreign 
source; 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), a record of the name of each indi-
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vidual who makes a disclosure under paragraph (1) 
and each report disclosed under such paragraph. 
‘‘(b) INSTITUTIONS.—An institution shall be subject 
to the requirements of this section if such institution— 
‘‘(1) received more than $50,000,000 in Fed-
eral funds in any of the previous five calendar years 
to support (in whole or in part) research and devel-
opment (as determined by the institution and meas-
ured by the Higher Education Research and Devel-
opment Survey of the National Center for Science 
and Engineering Statistics); or 
‘‘(2) receives funds under title VI. 
‘‘(c) APPLICATION OF FEDERAL PRIVACY LAW; PRO-
TECTIONS FOR NATURAL PERSONS.— 
‘‘(1) 
APPLICATION
OF
FEDERAL
PRIVACY 
LAW.—Except as provided in paragraph (2), a dis-
closure made pursuant to this section is not subject 
to Federal privacy law. 
‘‘(2) PROTECTIONS FOR NATURAL PERSONS.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), with respect to a disclosure 
made pursuant to this section, the following 
may not be publicly disclosed: 
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‘‘(i) The name or address (other than 
the attributable country) of a foreign 
source that is a natural person. 
‘‘(ii) The name or any other person-
ally identifiable information of a covered 
individual making such disclosure. 
‘‘(B) EXCEPTIONS FOR CONTRACTS WITH 
A FOREIGN COUNTRY OF CONCERN OR FOREIGN 
ENTITY OF CONCERN.—Subparagraph (A) shall 
not apply to a disclosure made pursuant to this 
section that contains information with respect 
to a contract entered into with a foreign coun-
try of concern or foreign entity of concern. 
‘‘(d) DEFINITIONS.—In this section— 
‘‘(1) the terms ‘affiliated entity’, ‘attributable 
country’, ‘foreign source’, and ‘gift’ have the mean-
ings given such terms in section 117(f); 
‘‘(2) the term ‘contract’— 
‘‘(A) means— 
‘‘(i) any agreement for the acquisition 
by purchase, lease, or barter of property 
(including intellectual property) or services 
by the foreign source; 
‘‘(ii) except as provided in subpara-
graph (B), any agreement for the acquisi-
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tion by purchase, lease, or barter of prop-
erty (including intellectual property) or 
services from a foreign source; and 
‘‘(iii) any affiliation, agreement, or 
similar transaction with a foreign source 
that involves the use or exchange of a cov-
ered individual’s name, likeness, time, serv-
ices, or resources; and 
‘‘(B) does not include— 
‘‘(i) an arms-length agreement for the 
acquisition by purchase, lease, or barter of 
property (including intellectual property) 
or services from a foreign source that is 
not a foreign country of concern or a for-
eign entity of concern; and 
‘‘(ii) any assignment or license of a 
granted intellectual property right (includ-
ing a patent, trademark, or copyright) that 
is not associated with a category listed in 
the Commerce Control List maintained by 
the Bureau of Industry and Security of the 
Department of Commerce and set forth in 
Supplement No. 1 to part 774 of title 15, 
Code of Federal Regulations (or successor 
regulations); and 
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‘‘(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 
Development published by the Subcommittee on 
Research Security and the Joint Committee on 
the Research Environment in January 2022 (or 
any successor guidance).’’. 
SEC. 4. INVESTMENT DISCLOSURE REPORT. 
The Higher Education Act of 1965 (20 U.S.C. 1001 
et seq.), as amended by 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 each July 31 
immediately following any calendar year in which the spec-
ified institution purchases, sells, or holds (directly or indi-
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rectly through any chain of ownership) one or more invest-
ments of concern. 
‘‘(b) CONTENTS OF REPORT.—Each report to the 
Secretary required by subsection (a) shall contain, with 
respect to the calendar year preceding the calendar year 
in which such report is filed, the following information: 
‘‘(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) TREATMENT
OF CERTAIN POOLED INVEST-
MENTS.— 
‘‘(1) POOLED INVESTMENT CLASSIFICATION.— 
‘‘(A) IN GENERAL.—For purposes of this 
section, except as provided in subparagraph 
(B), a specified interest acquired by a specified 
institution in a regulated investment company, 
exchange traded fund, or any other pooled in-
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vestment that holds an investment of concern 
shall be treated as an investment of concern 
and shall be reported pursuant to paragraph 
(2)(A). 
‘‘(B) CERTIFICATION OF POOLED INVEST-
MENT.—Notwithstanding 
subparagraph 
(A), 
such specified interest shall not be subject to 
subparagraph (A) if the Secretary certifies, pur-
suant to paragraph (2)(B), that such pooled in-
vestment is not holding an investment of con-
cern. 
‘‘(2) PROCEDURES.—The Secretary, after con-
sultation with the Secretary of the Treasury and the 
Securities and Exchange Commission, shall establish 
procedures under which a pooled investment de-
scribed in paragraph (1)— 
‘‘(A) shall be reported in accordance with 
the requirements of subsection (b); and 
‘‘(B) may be certified under paragraph 
(1)(B) as not holding an investment of concern. 
‘‘(d) TREATMENT OF RELATED ORGANIZATIONS.— 
For purposes of this section, assets held by any related 
organization (as defined in section 4968(d)(2) of the In-
ternal Revenue Code of 1986) with respect to a specified 
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institution shall be treated as held by such specified insti-
tution, except that— 
‘‘(1) such assets shall not be taken into account 
with respect to more than 1 specified institution; 
and 
‘‘(2) unless such organization is controlled by 
such institution or is described in section 509(a)(3) 
of the Internal Revenue Code of 1986 with respect 
to such institution, assets which are not intended or 
available for the use or benefit of such specified in-
stitution shall not be taken into account. 
‘‘(e) VALUATION OF DEBT.—For purposes of this 
section, the fair market value of any debt shall be the out-
standing principal amount of such debt. 
‘‘(f) REGULATIONS.—The Secretary, after consulta-
tion with the Secretary of the Treasury and the Securities 
and Exchange Commission, may issue such regulations or 
other guidance as may be necessary or appropriate to 
carry out the purposes of this section, including regula-
tions or other guidance providing for the proper applica-
tion of this section with respect to certain regulated invest-
ment companies, exchange traded funds, and pooled in-
vestments. 
‘‘(g) DATABASE
REQUIREMENT.—Beginning not 
later than May 31 of the calendar year following the date 
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of enactment of the DETERRENT Act, the Secretary 
shall— 
‘‘(1) establish and maintain a searchable data-
base on a website of the Department, under which 
all reports submitted under this section— 
‘‘(A) are made publicly available (in elec-
tronic and downloadable format), including any 
information provided in such reports; 
‘‘(B) can be individually identified and 
compared; and 
‘‘(C) are searchable and sortable; and 
‘‘(2) not later than 30 days after receipt of a 
disclosure report under this section, include such re-
port in such database. 
‘‘(h) DEFINITIONS.—In this section: 
‘‘(1) INVESTMENT OF CONCERN.— 
‘‘(A) IN GENERAL.—The term ‘investment 
of concern’ means any specified interest with 
respect to any of the following: 
‘‘(i) A foreign country of concern. 
‘‘(ii) A foreign entity of concern. 
‘‘(B) SPECIFIED
INTEREST.—The term 
‘specified interest’ means, with respect to any 
entity— 
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‘‘(i) stock or any other equity or prof-
its interest of such entity; 
‘‘(ii) debt issued by such entity; and 
‘‘(iii) any contract or derivative with 
respect to any property described in clause 
(i) or (ii). 
‘‘(2) SPECIFIED INSTITUTION.— 
‘‘(A) IN
GENERAL.—The term ‘specified 
institution’, as determined with respect to any 
calendar year, means an institution that— 
‘‘(i) is not a public institution; and 
‘‘(ii) at the close of such calendar 
year, holds— 
‘‘(I) assets (other than those as-
sets which are used directly in car-
rying out the institution’s exempt pur-
pose) the aggregate fair market value 
of 
which 
is 
in 
excess 
of 
$6,000,000,000; and 
‘‘(II) investments of concern the 
aggregate fair market value of which 
is in excess of $250,000,000. 
‘‘(B) REFERENCES TO CERTAIN TERMS.— 
For the purpose of applying the definition 
under subparagraph (A), the terms ‘aggregate 
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fair market value’ and ‘assets which are used 
directly in carrying out the institution’s exempt 
purpose’ shall be applied in the same manner as 
such terms are applied for the purposes of sec-
tion 4968(b)(1)(D) of the Internal Revenue 
Code of 1986.’’. 
SEC. 5. ENFORCEMENT AND OTHER GENERAL PROVISIONS. 
(a) ENFORCEMENT AND OTHER GENERAL PROVI-
SIONS.—The Higher Education Act of 1965 (20 U.S.C. 
1001 et seq.), as amended by this Act, is further amended 
by inserting after section 117C the following: 
‘‘SEC. 117D. ENFORCEMENT; SINGLE POINT-OF-CONTACT; 
INSTITUTIONAL REQUIREMENTS. 
‘‘(a) ENFORCEMENT.— 
‘‘(1) INVESTIGATION.—The Secretary (acting 
through the General Counsel of the Department) 
shall conduct investigations of possible violations of 
sections 117, 117A, 117B, 117C, and subsection (c) 
of this section by institutions and, whenever it ap-
pears that an institution has knowingly or willfully 
failed to comply with a requirement of any of such 
provisions (including any rule or regulation promul-
gated under any such provision), shall request that 
the Attorney General bring a civil action in accord-
ance with paragraph (2). 
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‘‘(2) CIVIL ACTION.—Whenever it appears that 
an institution has knowingly or willfully failed to 
comply with a requirement of any of the provisions 
listed in paragraph (1) (including any rule or regula-
tion promulgated under any such provision) based 
on an investigation under such paragraph, a civil ac-
tion shall be brought by the Attorney General, at the 
request of the Secretary, in an appropriate district 
court of the United States, or the appropriate 
United States court of any territory or other place 
subject to the jurisdiction of the United States, to 
request such court to compel compliance with the re-
quirement of the provision that has been violated. 
‘‘(3) COSTS AND OTHER FINES.—An institution 
that is compelled to comply with a requirement of a 
provision listed in paragraph (1) pursuant to para-
graph (2) shall— 
‘‘(A) pay to the Treasury of the United 
States the full costs to the United States of ob-
taining compliance with the requirement of such 
provision, including all associated costs of inves-
tigation and enforcement; and 
‘‘(B) if applicable, be subject to the appli-
cable fines described in paragraph (4). 
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‘‘(4) FINES FOR VIOLATIONS.—The Secretary 
shall impose a fine on an institution that is com-
pelled to comply with a requirement of a section list-
ed in paragraph (1) pursuant to paragraph (2) as 
follows: 
‘‘(A) SECTION 117.— 
‘‘(i) FIRST-TIME VIOLATIONS.—In the 
case of an institution that is compelled to 
comply with a requirement of section 117 
pursuant to a civil action described in 
paragraph (2), and that has not previously 
been compelled to comply with any such 
requirement pursuant to such a civil ac-
tion, the Secretary shall impose a fine on 
the institution for such violation as follows: 
‘‘(I) In the case of an institution 
that knowingly or willfully fails to 
comply with a reporting requirement 
under subsection (a)(1) of section 
117, such fine shall be in an amount 
that is— 
‘‘(aa) for each gift or con-
tract with determinable value 
that is the subject of such a fail-
ure to comply, the greater of— 
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‘‘(AA) $50,000; or 
‘‘(BB) 
the 
monetary 
value of such gift or con-
tract; or 
‘‘(bb) for each gift or con-
tract of no value or of indeter-
minable value, not less than 1 
percent and not more than 10 
percent of the total amount of 
Federal funds received by the in-
stitution under this Act for the 
most recent fiscal year. 
‘‘(II) In the case of an institution 
that knowingly or willfully fails to 
comply with the reporting requirement 
under subsection (a)(2) of section 
117, such fine shall be in an amount 
that is not less than 10 percent of the 
total amount of Federal funds re-
ceived by the institution under this 
Act for the most recent fiscal year. 
‘‘(ii) SUBSEQUENT
VIOLATIONS.—In 
the case of an institution that has pre-
viously been compelled to comply with a re-
quirement of section 117 pursuant to a 
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civil action described in paragraph (2), and 
is subsequently compelled to comply with 
such a requirement pursuant to a subse-
quent civil action described in paragraph 
(2), the Secretary shall impose a fine on 
the institution as follows: 
‘‘(I) In the case of an institution 
that knowingly or willfully fails to 
comply with a reporting requirement 
under subsection (a)(1) of section 
117, such fine shall be in an amount 
that is— 
‘‘(aa) for each gift or con-
tract with determinable value 
that is the subject of such a fail-
ure to comply, the greater of— 
‘‘(AA) $100,000; or 
‘‘(BB) twice the mone-
tary value of such gift or 
contract; or 
‘‘(bb) for each gift or con-
tract of no value or of indeter-
minable value, not less than 5 
percent and not more than 10 
percent of the total amount of 
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Federal funds received by the in-
stitution under this Act for the 
most recent fiscal year. 
‘‘(II) In the case of an institution 
that knowingly or willfully fails to 
comply with a reporting requirement 
under subsection (a)(2) of section 
117, such fine shall be in an amount 
that is not less than 20 percent of the 
total amount of Federal funds re-
ceived by the institution under this 
Act for the most recent fiscal year. 
‘‘(B) SECTION 117A.— 
‘‘(i) FIRST-TIME VIOLATIONS.—In the 
case of an institution that is compelled to 
comply with a requirement of section 117A 
pursuant to a civil action described in 
paragraph (2), and that has not previously 
been compelled to comply with any such 
requirement pursuant to such a civil ac-
tion, the Secretary shall impose a fine on 
the institution in an amount that is not 
less than 5 percent and not more than 10 
percent of the total amount of Federal 
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by the fair market value of such in-
vestments at the time of the sale. 
‘‘(ii) SUBSEQUENT
VIOLATIONS.—In 
the case of an institution that has pre-
viously been compelled to comply with a re-
quirement of section 117C pursuant to a 
civil action described in paragraph (2), and 
is subsequently compelled to comply with 
such a requirement pursuant to a subse-
quent civil action described in paragraph 
(2), the Secretary shall impose a fine on 
the institution in an amount that is not 
less than 100 percent and not more than 
200 percent of the sum of— 
‘‘(I) the aggregate fair market 
value of all investments of concern 
held by such institution as of the close 
of the final calendar year for which 
the institution is compelled to comply 
with such requirement pursuant to 
such subsequent civil action; and 
‘‘(II) the combined value of all 
investments of concern over the course 
of all the calendar years for which the 
institution is compelled to comply with 
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such requirement pursuant to such 
subsequent civil action, as measured 
by the fair market value of such in-
vestments at the time of the sale. 
‘‘(E) INELIGIBILITY FOR WAIVER.—In the 
case of an institution that is fined pursuant to 
subparagraph (A)(ii), (B)(ii), (C)(ii), or (D)(ii), 
the Secretary shall prohibit the institution from 
obtaining a waiver, or a renewal of a waiver, 
under section 117A. 
‘‘(b) SINGLE POINT-OF-CONTACT AT THE DEPART-
MENT.—The Secretary shall maintain a single point-of- 
contact at the Department to— 
‘‘(1) receive and respond to inquiries and re-
quests for technical assistance from institutions re-
garding compliance with the requirements of sec-
tions 117, 117A, 117B, 117C, and subsection (c) of 
this section; 
‘‘(2) coordinate and implement technical im-
provements to the database described in section 
117(d)(1), including— 
‘‘(A) improving upload functionality by al-
lowing for batch reporting, including by allow-
ing institutions to upload one file with all re-
quired information into the database; 
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‘‘(B) publishing and maintaining a data-
base users guide, which shall be reviewed and 
updated as practicable but not less than annu-
ally, including information on how to edit an 
entry and how to report errors; 
‘‘(C) creating a standing user group (to 
which chapter 10 of title 5, United States Code, 
shall not apply) to discuss possible database im-
provements, which group shall— 
‘‘(i) include at least— 
‘‘(I) 3 members representing 
public institutions with high or very 
high levels of research activity (as de-
fined by the National Center for Edu-
cation Statistics); 
‘‘(II) 2 members representing 
private, nonprofit institutions with 
high or very high levels of research 
activity (as so defined); 
‘‘(III) 2 members representing 
proprietary institutions of higher edu-
cation (as defined in section 102(b)); 
and 
‘‘(IV) 2 members representing 
area career and technical education 
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schools (as defined in subparagraph 
(C) or (D) of section 3(3) of the Carl 
D. Perkins Career and Technical 
Education Act of 2006 (20 U.S.C. 
2302(3))); and 
‘‘(ii) meet at least twice a year with 
officials from the Department to discuss 
possible database improvements; 
‘‘(D) publishing, on a publicly available 
website, recommended database improvements 
following each meeting described in subpara-
graph (C)(ii); and 
‘‘(E) responding, on a publicly available 
website, to each recommendation published 
under subparagraph (D) as to whether or not 
the Department will implement the rec-
ommendation, including the rationale for either 
approving or rejecting the recommendation; 
‘‘(3) provide, every 90 days after the date of en-
actment of the DETERRENT Act, status updates 
on any pending or completed investigations and civil 
actions under subsection (a)(1) to— 
‘‘(A) the authorizing committees; and 
‘‘(B) any institution that is the subject of 
such investigation or action; 
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‘‘(4) 
maintain, 
on 
a 
publicly 
accessible 
website— 
‘‘(A) a full comprehensive list of all foreign 
countries of concern and foreign entities of con-
cern; and 
‘‘(B) the date on which the last update was 
made to such list; and 
‘‘(5) not later than 7 days after making an up-
date to the list maintained under paragraph (4)(A), 
notify each institution required to comply with the 
sections listed in paragraph (1) of such update. 
‘‘(c) INSTITUTIONAL REQUIREMENTS FOR COMPLI-
ANCE OFFICERS AND INSTITUTIONAL POLICY REQUIRE-
MENTS.— 
‘‘(1) IN GENERAL.—An institution that is re-
quired to file a report under section 117 or 117C, 
that is seeking a waiver under section 117A, or that 
is subject to the requirements of section 117B, shall, 
not later than the earlier of the date on which the 
institution files the first report under section 117 or 
117C, requests the institution’s first waiver under 
section 117A, or first fulfills the requirements of 
section 117B— 
‘‘(A) establish an institutional policy that 
the institution shall follow in meeting the re-
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quirements of sections 117, 117A, 117B, and 
117C; and 
‘‘(B) designate and maintain at least one, 
but not more than three, current employees or 
legally authorized agents of such institution to 
serve as compliance officers to carry out the re-
quirements listed in paragraph (2). 
‘‘(2) DUTIES
OF
COMPLIANCE
OFFICERS.—A 
compliance officer designated by an institution under 
paragraph (1)(B) shall certify— 
‘‘(A) whenever the institution is required 
to file a report under section 117 or 117C— 
‘‘(i) the institution’s accurate compli-
ance with the reporting requirements 
under such section; 
‘‘(ii) that the institution, in filing such 
report under section 117 or 117C— 
‘‘(I) followed the institutional 
policy established under paragraph 
(1)(A) applicable to such section; and 
‘‘(II) conducted good faith efforts 
and reasonable due diligence to ensure 
that accurate information is provided 
in such report, including with respect 
to the valuations of any assets that 
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are disclosed in a report submitted 
under section 117C; and 
‘‘(iii) in the case of a report under 
section 117, any statements by the institu-
tion required to be certified by such an of-
ficer under clause (i) or (iv) of section 
117(b)(1)(C); and 
‘‘(B) whenever the institution requests a 
waiver under section 117A— 
‘‘(i) that the institution— 
‘‘(I) is in compliance with the re-
quirements of such section; and 
‘‘(II) followed the institutional 
policy established under paragraph 
(1)(A) applicable to such section; and 
‘‘(ii) the statement by the institution 
required to be certified by such an officer 
under section 117A(b)(2)(A)(ii)(II); and 
‘‘(C) whenever the institution is subject to 
the requirements of section 117B, that the in-
stitution— 
‘‘(i) is in compliance with the require-
ments of such section; and 
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‘‘(ii) followed the institutional policy 
established under paragraph (1)(A) appli-
cable to such section. 
‘‘(d) DEFINITIONS.—For purposes of sections 117, 
117A, 117B, 117C, and this section: 
‘‘(1) FOREIGN
COUNTRY
OF
CONCERN.—The 
term ‘foreign country of concern’ means the fol-
lowing: 
‘‘(A) Any covered nation defined in section 
4872 of title 10, United States Code, including 
any special administrative region within such a 
covered nation or any other territory that the 
United States recognizes as being under the 
control of such a covered nation on or after the 
date of the enactment of this subsection. 
‘‘(B) Any country the Secretary, in con-
sultation with the Secretary of Defense, the 
Secretary of State, and the Director of National 
Intelligence, determines, for purposes of sec-
tions 117, 117A, 117B, 117C, or this section, 
to be engaged in conduct that is detrimental to 
the national security or foreign policy of the 
United States. 
‘‘(2) FOREIGN
ENTITY
OF
CONCERN.—The 
term ‘foreign entity of concern’ has the meaning 
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given such term in section 10612(a) of the Research 
and Development, Competition, and Innovation Act 
(42 U.S.C. 19221(a)) and includes— 
‘‘(A) a foreign entity that is identified on 
the list published under section 1286(c)(9)(A) 
of the John S. McCain National Defense Au-
thorization Act for Fiscal Year 2019 (10 U.S.C. 
4001 note; Public Law 115–232); and 
‘‘(B) a Chinese military company that is 
identified on the list required by section 1260H 
of the William M. (Mac) Thornberry National 
Defense Authorization Act for Fiscal Year 2021 
(10 U.S.C. 113 note; Public Law 116–283). 
‘‘(3) 
INSTITUTION.—The 
term 
‘institution’ 
means an institution of higher education (as such 
term is defined in section 102, other than an institu-
tion described in subsection (a)(1)(C) of such sec-
tion) with a program participation agreement under 
section 487.’’. 
(b) PROGRAM PARTICIPATION AGREEMENT.—Section 
487(a) of the Higher Education Act of 1965 (20 U.S.C. 
1094) is amended by adding at the end the following: 
‘‘(30)(A) An institution will comply with the re-
quirements of sections 117, 117A, 117B, 117C, and 
117D(c). 
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‘‘(B) In the case of an institution described in 
subparagraph (C), the institution will— 
‘‘(i) be ineligible to participate in the pro-
grams authorized by this title for a period of 
not less than 2 institutional fiscal years; and 
‘‘(ii) in order to regain eligibility to partici-
pate in such programs, demonstrate compliance 
with all requirements of each such section for 
not less than 2 institutional fiscal years after 
the institutional fiscal year in which such insti-
tution became ineligible. 
‘‘(C) An institution described in this subpara-
graph is an institution— 
‘‘(i) against which judgment has been 
granted in 3 separate civil actions described in 
section 117D(a)(2) that have each resulted in 
the institution being compelled to comply with 
one or more requirements of section 117, 117A, 
117B, 117C, or 117D(c); and 
‘‘(ii) 
that 
pursuant 
to 
section 
117D(a)(4)(E), is prohibited from obtaining a 
waiver, or a renewal of a waiver, under section 
117A.’’. 
(c) GAO STUDY AND REPORT.— 
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(1) STUDY.—Not later than January 31 of the 
second calendar year that begins after the date of 
enactment of this Act, the Comptroller General of 
the United States shall initiate a study to identify 
ways to improve intergovernmental agency coordina-
tion regarding implementation and enforcement of 
sections 117, 117A, 117B, 117C, and 117D(c) of 
the Higher Education Act of 1965 (20 U.S.C. 
1011f), as amended or added by this Act, including 
increasing information sharing, increasing compli-
ance rates, and establishing processes for enforce-
ment. 
(2) REPORT.—Not later than 3 years after the 
date of the initiation of the study under paragraph 
(1), the Comptroller General of the United States 
shall submit to Congress, and make public, a report 
containing the results of the study described in para-
graph (1). 
Passed the House of Representatives March 27, 
2025. 
Attest: 
KEVIN F. MCCUMBER, 
Clerk. 
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