,,ii  #aag? ,,congress  #a/ ,session    
,s4 #bjfj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ae1 #bjba,mr4   
,cotton introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d disclosure 
requirem5ts ( =eign gifts & contracts "u
 ! ,high] ,education ,act ( #aife4  #a4 
,%ort title ,?is ,act may be cit$ z !   
,=eign ,fund+ ,acc\ntability ,act (     
#bjba4  #b4 ,am5dm5ts to disclosures (  
=eign gifts & contracts ,section #aag ( 
! ,high] ,education ,act ( #aife 7#bj   
,u4,s4,c4 #ajaa;f7 is am5d$-- 7#a7 by   
/rik+ subsections 7a7 & 7b7 & ins]t+ !  
foll[+3  7a7 ,disclosure report  7#a7   
,fil+ ,an in/itution %all file a        
disclosure report ) ! ,dep>tm5t (       
,education on ,janu>y #ca or ,july #ca1 
:i*ev] is soon]1 if ! in/itution-- 7,a7 
is own$ or controll$ by a =eign s\rce2  
or  7,b7 receives a gift or ent]s into a
 contract ) a =eign s\rce1 ! value ( :i*
 is #be1jjj or m 7includ+ 9-k9d gifts1  
gifts to in/itution f\ndations1 & gifts 

to any o!r legal entities t op]ate      
sub/antially = ! b5efit or "u !         
auspieces ( ! in/itution71 consid]$     
alone or 9 comb9ation ) all o!r gifts f 
or contracts ) t =eign s\rce )9 a cal5d>
 ye>4  7#b7 ,tuition ,a tuition paym5t  
to an in/itution on behalf ( an enroll$ 
/ud5t by a =eign gov]nm5t or f\ndation  
%all be consid]$ a gift f or contract ) 
a =eign s\rce "u ?is subsection4  7#c7  
,designat$ individual ,ea* in/itution t 
is requir$ to file a disclosure report  
"u ?is section %all designate an (fic]  
at ! in/itution :o %all be responsible =
 ensur+ ! v]acity ( ! disclosure report4
  7b7 ,cont5ts ( disclosure report  7#a7
 ,own$ or controll$ by a =eign s\rce ,an
 in/itution t is requir$ to file a      
disclosure report "u subsection         
7a77#a77;,a7 %all include 9 ! report3   
7,a7 ,! id5tity ( ! =eign s\rce4  7,b7  
,! date on :i* ! =eign s\rce assum$     
own]%ip or control4  7,c7 ,any *anges 9 
program or /ructure result+ f ! *ange 9 
own]%ip or control4  7#b7 ,gifts or     

contracts ,an in/itution t is requir$ to
 file a disclosure report "u subsection 
7a77#a77;,b7 %all include 9 ! report3   
7,a7 ,! am\nt ( ! gift or contract4     
7,b7 ,! c\ntry ( orig9 ( ! gift or      
contract4  7,c7 ,a /atem5t f ! =eign    
s\rce provid+ ! gift or ent]+ into !    
contract1 includ+1 9 ! case ( a =eign   
s\rce t is-- 7i7 an individual1 !       
individual's-- 7,i7 "n2  7,,ii7         
nationality  7,,iii7 pr9cipal bus9ess   
address2 &  7,,iv7 all bus9ess &        
resid5tial addresses 9 ! ,unit$ ,/ates  
or else:]e2  7ii7 a p>tn]%ip-- 7,i7 !   
in=mation describ$ 9 subclause 7,i7     
?r\gh 7,,iv7 ( clause 7i7 ) respect to  
ea* memb] ( ! p>tn]%ip2 &  7,,ii7 a true
 & complete copy ( its articles (       
cop>tn]%ip2 or  7iii7 an association1   
corporation1 organization1 or any o!r   
comb9ation ( individuals-- 7,i7 !       
in=mation describ$ 9 subclauses 7,i7    
?r\gh 7,,iv7 ( clause 7i7 ) respect to  
ea* director1 (fic]1 & ea* individual   
p]=m+ ! functions ( a director or (fic] 

= t entity2 &  7,,ii7 a /atem5t ( !     
entity's own]%ip & control1 & ! publicly
 li/$ "n ( ! entity4  7,d7 ,! explicit &
 int5d$ purpose & function ( ! gift or  
contract1 includ+-- 7i7 ! "n 7& position
 if applicable7 ( ! recipi5t individual1
 dep>tm5t1 or b5efactor at ! in/itution 
receiv+ ! gift or contract2  7ii7 any   
t]ms or conditions ( ! gift or contract2
  7iii7 copies ( ea* writt5 agreem5t & !
 t]ms & conditions ( ea* oral agreem5t1 
includ+ all modifications ( su*         
agreem5ts1 relat+ to ! gift or contract2
 or  7iv7 :]e no writt5 or oral agreem5t
 exi/s1 a full /atem5t ( all !          
circum/ances relat+ to ! gift or        
contract4  7#c7 ,atte/ation ,ea*        
disclosure report "u ?is section %all   
include a writt5 /atem5t f ! individual 
designat$ "u subsection 7a77#c7 atte/+ t
 ! disclosure report is true & complete4
  2  7#b7 by /rik+ subsections 7c7 &    
7d72  7#c7 by r$esignat+ subsections 7e7
 ?r\gh 7h7 z subsections 7c7 ?r\gh 7f71 
respectively2  7#d7 9 subsection 7c71 z 

r$esignat$ by p>agraph 7#c71 by add+ at 
! end ! foll[+3 ,all disclosure reports 
requir$ by ?is section1 includ+ copies (
 agreem5ts requir$ "u subsection        
7b77#b77;,d77iii71 %all be publicly     
available1 includ+ by electronic means42
  7#e7 by /rik+ subsection 7d71 z       
r$esignat$ by p>agraph 7#c71 & ins]t+ ! 
foll[+3  7d7 ,en=cem5t  7#a7 ,civil     
p5alties ,^u det]m9ation1 aft]          
reasonable notice & opportunity = a     
he>+1 t an in/itution-- 7,a7 has violat$
 or fail$ to c>ry out any provision (   
?is section or any regulation prescrib$ 
"u ?is section 7includ+ by submitt+ a   
disclosure report ) a mat]ial mis/atem5t
 or omission71 ! ,secret>y may impose a 
civil p5alty ^u su* in/itution ( n to   
exce$1 ! great] (-- 7i7 #bej1jjj = an   
initial violation or failure2 or  7ii7 !
 value ( ! unreport$ gift or contract = 
an initial violation or failure2  7,b7  
commits a second violation or failure z 
describ$ 9 subp>agraph 7,a71 ! ,secret>y
 may impose a civil p5alty ^u su*       

in/itution ( n to exce$1 ! great] (--   
7i7 #gej1jjj2 or  7ii7 ! value ( !      
unreport$ gift or contract2  7,c7       
commits #c or m violations or failures z
 describ$ 9 subp>agraph 7,a7-- 7i7 !    
,secret>y may impose a civil p5alty ^u  
su* in/itution ( n to exce$1 ! great]   
(-- 7,i7 #a1jjj1jjj2 or  7,,ii7 ! value 
( ! unreport$ gift or contract2 &  7ii7 
! in/itution may be subject to p5alties 
relat+ to ! ,/ud5t & ,ex*ange ,visitor  
,program & ! in/itution's tax exempt    
/atus1 z describ$ 9 sections #d & #e ( !
 ,=eign ,fund+ ,acc\ntability ,act (    
#bjba2 or  7,d7 commits #c or m         
violations or failures z describ$ 9     
subp>agraph 7,a7 & has demon/rat$ a     
patt]n ( willful violations1 ! ,secret>y
 may det]m9e t ! in/itution is no long] 
eligible to receive funds "u ?is ,act4  
7#b7 ,c\rt ord]s ,:5ev] x appe>s t an   
in/itution has fail$ to comply ) !      
requirem5ts ( ?is section1 includ+ any  
rule or regulation promulgat$ "u ?is    
section1 a civil action may be br\ght by

 ! ,attorney ,g5]al1 at ! reque/ ( !    
,secret>y1 9 an appropriate di/rict c\rt
 ( ! ,unit$ ,/ates1 or ! appropriate    
,unit$ ,/ates c\rt ( any t]ritory or o!r
 place subject to ! jurisdiction ( !    
,unit$ ,/ates1 to reque/ su* c\rt to    
compel compliance ) ! requirem5ts ( ?is 
section 7includ+ = ! collection ( civil 
p5alties "u ?is subsection74 ,9 case (  
contumacy by1 or refusal to obey a      
subpo5a issu$ to1 any p]son1 ! ,secret>y
 may reque/ ! ,attorney ,g5]al to invoke
 ! aid ( any c\rt ( ! ,unit$ ,/ates :]e 
su* p]son resides or transacts bus9ess =
 a c\rt ord] = ! en=cem5t ( ?is section4
  7#c7 ,co/s ,= kn[+ or willful failure 
to comply ) ! requirem5ts ( ?is section1
 includ+ any rule or regulation         
promulgat$ !reund]1 an in/itution %all  
pay to ! ,treasury ( ! ,unit$ ,/ates !  
full co/s to ! ,unit$ ,/ates ( obta9+   
compliance1 includ+ all associat$ co/s (
 inve/igation & en=cem5t4  7#d7         
,inve/igation2 ,subpo5a au?ority ,!     
,secret>y %all e/abli% an inve/igative  

process to id5tify gifts or contracts ) 
respect to :i* a disclosure report "u   
?is section is requir$ & has n be5      
submitt$4 ,to assi/ ! ,secret>y 9 !     
conduct ( inve/igations ( possible      
violations ( ?is section1 ! ,secret>y is
 au?oriz$ to require by subpo5a !       
production ( in=mation1 docum5ts1       
reports1 answ]s1 records1 acc\nts1      
pap]s1 & o!r docum5t>y evid5ce p]ta9+ to
 ?is section4 ,! production ( any su*   
records may be requir$ f any place 9 a  
,/ate4  2  7#f7 9 subsection 7f77#b71 z 
r$esignat$ by p>agraph 7#c7-- 7,a7 9    
subp>agraph 7,c71 by /rik+ & aft] !     
semicolon2  7,b7 9 subp>agraph 7,d71 by 
add+ & aft] ! semicolon2 &  7,c7 by add+
 at ! end ! foll[+3  7,e7 any p]son     
regi/]$ "u ! ,=eign ,ag5ts ,regi/ration 
,act ( #aich 7#bb ,u4,s4,c4 #faa et     
seq47  4  #c4 ,report on pa/ ye>s       
requir$  7a7 ,9 ,g5]al ,n lat] ?an #a   
ye> aft] ! date ( enactm5t ( ?is ,act1  
ea* in/itution %all prep>e & submit to !
 ,secret>y ( ,education a disclosure    

report conta9+ ! in=mation describ$ 9   
subsection 7b7 ( section #aag ( ! ,high]
 ,education ,act ( #aife 7#bj ,u4,s4,c4 
#ajaa;f7b77 7z am5d$ by section #b ( ?is
 ,act7 z requir$ "u subsection 7a7 ( su*
 section #aag 7z am5d$ by section #b (  
?is ,act7 = e qualify+ ev5t t has       
occurr$ on or aft] ! date ( enactm5t ( !
 ,high] ,education ,am5dm5ts ( #aiih    
7,public ,law #aje-bdd7 & be=e ! date ( 
enactm5t ( ?is ,act4  7b7 ,in/itutions  
unable ,to comply ,9 ! case ( an        
in/itution t is unable to comply ) !    
requirem5ts ( subsection 7a7 ) respect  
to a qualify+ ev5t1 t in/itution %all   
submit a /atem5t to ! ,secret>y (       
,education1 = ea* su* qualify+ ev5t1    
describ+ 9 detail 9 detail :y !         
in/itution _c comply ) respect to t     
qualify+ ev5t4  7c7 ,waiv] ,an          
in/itution may reque/1 & ! ,secret>y (  
,education may grant1 a waiv] ) respect 
to ! report requir$ "u ?is section if ! 
in/itution demon/rates good cause =     
requir+ su* a waiv]4  7d7 ,en=cem5t     

7#a7 ,9 ,g5]al ,^u det]m9ation1 aft]    
reasonable notice & opportunity = a     
he>+1 t an in/itution has violat$ or    
fail$ to c>ry out any provision ( ?is   
section or any regulation prescrib$ "u  
?is section 7includ+ by submitt+ a      
disclosure report ) a mat]ial mis/atem5t
 or omission71 ! ,secret>y ( ,education 
may impose a civil p5alty ^u su*        
in/itution n to exce$ #be1jjj = ea*     
qualify+ ev5t t ! in/itution has fail$  
to report 9 accordance ) ?is section4   
7#b7 ,c\rt ord]s ,:5ev] x appe>s t an   
in/itution has fail$ to comply ) !      
requirem5ts ( ?is section1 includ+ any  
rule or regulation promulgat$ "u ?is    
section1 a civil action may be br\ght by
 ! ,attorney ,g5]al1 at ! reque/ ( !    
,secret>y ( ,education1 9 an appropriate
 di/rict c\rt ( ! ,unit$ ,/ates1 or !   
appropriate ,unit$ ,/ates c\rt ( any    
t]ritory or o!r place subject to !      
jurisdiction ( ! ,unit$ ,/ates1 to      
reque/ su* c\rt to compel compliance ) !
 requirem5ts ( ?is section 7includ+ = ! 

collection ( civil p5alties "u ?is      
subsection74  7#c7 ,co/s ,= kn[+ or     
willful failure to comply ) !           
requirem5ts ( ?is section1 includ+ any  
rule or regulation promulgat$ !reund]1  
an in/itution %all pay to ! ,treasury ( 
! ,unit$ ,/ates ! full co/s to ! ,unit$ 
,/ates ( obta9+ compliance1 includ+ all 
associat$ co/s ( inve/igation &         
en=cem5t4  7#d7 ,inve/igation2 ,subpo5a 
au?ority ,! ,secret>y ( ,education %all 
e/abli% an inve/igative process to      
id5tify gifts or contracts ) respect to 
:i* a disclosure "u ?is section is      
requir$ & has n be5 submitt$4 ,!        
,secret>y ( ,education may use          
adm9i/rative subpo5a au?ority z au?oriz$
 "u law to conduct su* inve/igations4   
7e7 ,def9itions ,9 ?is section3 7#a7    
,in/itution ,! t]m in/itution has !     
mean+ giv5 t t]m 9 section #aag ( !     
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajaa;f74  7#b7 ,qualify+ ev5t
 ,9 ?is section ! t]m qualify+ ev5t     
means an in/itution-- 7,a7 be+ own$ or  

controll$ by a =eign s\rce2 or  7,b7    
receiv+ a gift or ent]+ into a contract 
) a =eign s\rce1 ! value ( :i* is       
#be1jjj or m 7includ+ 9-k9d gifts1 or   
gifts to univ]sity or college           
f\ndations71 consid]$ alone or 9        
comb9ation ) all o!r gifts f or         
contracts ) t =eign s\rce )9 a cal5d>   
ye>4  #d4 ,disqualification f ! ,/ud5t &
 ,ex*ange ,visitor ,program ,any        
in/itution ( high] education t is f\nd  
to h violat$ ! disclosure requirem5ts   
set =? 9 section #aag ( ! ,high]        
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajaa;f7 on #c or m occasions %all be   
ineligible to enroll =eign /ud5ts "u !  
,/ud5t & ,ex*ange ,visitor ,program4    
#e4 ,loss ( tax-exempt /atus ,section   
#eja ( ! ,int]nal ,rev5ue ,code ( #aihf 
is am5d$ by add+ at ! end ! foll[+ new  
subsection3  7s7 ,loss ( exempt /atus = 
c]ta9 in/itutions ( high] education ,an 
organization :i* is describ$ 9 section  
#eja7;c77#c7 & :i* is an in/itution 7z  
def9$ 9 section #aag ( ! ,high]         

,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajaa;f77 %all n be exempt f taxation "u
 section #eja7;a7 if !re has be5 a      
det]m9ation "u section #aag7;d7 ( !     
,high] ,education ,act ( #aife t su*    
in/itution has committ$1 aft] ! date ( !
 enactm5t ( ?is section1 #c or m        
violations or failures describ$ 9       
section #aag7;d7 ( ! ,high] ,education  
,act ( #aife4  4