‘‘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 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 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-
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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 
undetermined 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 
has an undetermined 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) as applicable, the date on which 
such contract terminates; and 
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‘‘(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 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) first takes effect; or 
‘‘(ii) the date on which a contract re-
ferred to in subparagraph (B), (C) or (D) 
of paragraph (1) terminates; and 
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‘‘(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; 
‘‘(iv) by the narrowest of the depart-
ment, school, or college of the institution, 
as applicable, for which the individual 
making the disclosure works; and 
‘‘(v) by 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-
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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’), a 
record of the names of the individuals making disclo-
sures 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 
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‘‘(B) receives funds under title VI. 
‘‘(c) DEFINITIONS.—In this section— 
‘‘(1) the terms ‘attributable country’, ‘foreign 
source’, and ‘gift’ have the meanings given such 
terms in section 117(f); 
‘‘(2) the term ‘contract’ means— 
‘‘(A) any agreement for the acquisition by 
purchase, lease, or barter of property or serv-
ices by the foreign source; 
‘‘(B) any affiliation, agreement, or similar 
transaction with a foreign source that involves 
the use or exchange of an institution’s name, 
likeness, time, services, or resources; and 
‘‘(C) any agreement for the acquisition by 
purchase, lease, or barter, of property or serv-
ices from a foreign source (other than an arms- 
length agreement for such acquisition from a 
foreign source that is not 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 
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‘‘(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-
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: 
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‘‘(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-
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), 
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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 
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) 
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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 prin-
cipal 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 
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— 
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‘‘(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— 
‘‘(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). 
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‘‘(2) SPECIFIED INSTITUTION.— 
‘‘(A) IN
GENERAL.—The term ‘specified 
institution’, as determined with respect to any 
calendar year, means an institution if— 
‘‘(i) such institution is not a public in-
stitution; and 
‘‘(ii) the aggregate fair market value 
of— 
‘‘(I) the assets held by such insti-
tution at the end of such calendar 
year (other than those assets which 
are used directly in carrying out the 
institution’s exempt purpose) is in ex-
cess of $6,000,000,000; or 
‘‘(II) the investments of concern 
held by such institution at the end of 
such calendar year 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 
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-
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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) 
by institutions and, whenever it appears that an in-
stitution has knowingly or willfully failed to comply 
with a requirement of any of such sections (includ-
ing any rule or regulation promulgated under any 
such section), shall request that the Attorney Gen-
eral bring a civil action in accordance with para-
graph (2). 
‘‘(2) CIVIL ACTION.—Whenever it appears that 
an institution has knowingly or willfully failed to 
comply with a requirement of any of the sections 
listed in paragraph (1) (including any rule or regula-
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tion promulgated under any such section) based on 
an investigation under such paragraph, a civil action 
shall be brought by the Attorney General, at the re-
quest 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 section that has been violated. 
‘‘(3) COSTS AND OTHER FINES.—An institution 
that is compelled to comply with a requirement of a 
section 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 
section, including all associated costs of inves-
tigation and enforcement; and 
‘‘(B) be subject to the applicable fines de-
scribed in paragraph (4). 
‘‘(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: 
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‘‘(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— 
‘‘(AA) $50,000; or 
‘‘(BB) 
the 
monetary 
value of such gift or con-
tract; or 
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‘‘(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 
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 
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(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 
Federal funds received by the in-
stitution under this Act for the 
most recent fiscal year. 
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‘‘(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 
funds received by the institution under this 
Act for the most recent fiscal year. 
‘‘(ii) SUBSEQUENT
VIOLATIONS.—In 
the case of an institution that has pre-
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viously been compelled to comply with a re-
quirement of section 117A 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 20 percent of the total amount of 
Federal funds received by the institution 
under this Act for the most recent fiscal 
year. 
‘‘(C) SECTION 117B.— 
‘‘(i) FIRST-TIME VIOLATIONS.—In the 
case of an institution that is compelled to 
comply with a requirement of section 117B 
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 in an 
amount that is the greater of— 
‘‘(I) $250,000; or 
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‘‘(E) INELIGIBILTY 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; 
‘‘(B) publishing and maintaining a data-
base users guide annually, including informa-
tion on how to edit an entry and how to report 
errors; 
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‘‘(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 
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 
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‘‘(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; 
‘‘(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 
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‘‘(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 OFFICER AND ESTABLISHED POLICY FOR FILING 
REPORTS.— 
‘‘(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 such a section, 
requests the institution’s first waiver under section 
117A, or first fulfills the requirements of section 
117C— 
‘‘(A) establish an institutional policy that 
the institution shall follow in meeting the re-
quirements of section 117, 117A, 117B, and 
117C; and 
‘‘(B) designate and maintain a current em-
ployee or legally authorized agent of such insti-
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tution to serve as a compliance officer to carry 
out the requirements listed in paragraph (2). 
‘‘(2) DUTIES
OF
COMPLIANCE
OFFICERS.—A 
compliance officer designated under paragraph (1) 
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— 
‘‘(I) followed the institutional 
policy established under paragraph 
(1)(A); 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 
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 officer 
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under clause (i) or (iv) of section 
117(b)(1)(C); and 
‘‘(B) whenever the institution requests a 
waiver under section 117A, the statement by 
the institution required to be certified by such 
officer under section 117A(b)(2)(A)(ii)(II); and 
‘‘(C) in the case of an institution subject 
to the requirements of section 117B, that the 
institution is in compliance with such require-
ments. 
‘‘(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. 
‘‘(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. 
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‘‘(2) FOREIGN
ENTITY
OF
CONCERN.—The 
term ‘foreign entity of concern’ has the meaning 
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 foreign entity 
that is identified on the list published under section 
1286(c)(8)(A) of the John S. McCain National De-
fense Authorization Act for Fiscal Year 2019 (10 
U.S.C. 22 4001 note; Public Law 115–232). 
‘‘(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).’’. 
(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). 
‘‘(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 
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‘‘(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 that— 
‘‘(i) has been subject to 3 separate civil ac-
tions 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) pursuant to section 117D(a)(4)(E), is 
prohibited from obtaining a waiver, or a re-
newal of a waiver, under section 117A.’’. 
(c) GAO STUDY AND REPORT.— 
(1) STUDY.—Not later than 180 days after the 
date of enactment of this Act, the Comptroller Gen-
eral of the United States shall initiate a study to 
identify ways to improve intergovernmental agency 
coordination regarding implementation and enforce-
ment of sections 117, 117A, 117B, 117C, and 
117D(c) of the Higher Education Act of 1965 (20 
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U.S.C. 1011f), as amended or added by this Act, in-
cluding increasing information sharing, increasing 
compliance rates, and establishing processes for en-
forcement. 
(2) REPORT.—Not later than 3 years after the 
date of enactment of this Act, the Comptroller Gen-
eral of the United States shall submit to Congress, 
and make public, a report containing the results of 
the study described in paragraph (1). 
Æ 
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