RIFA Act

Referred to the House Committee on Education and Workforce.

Bill 119 HR 1023, also known as the Foreign Investment Disclosure Act, aims to amend the Higher Education Act of 1965 to require colleges and universities to disclose any foreign investments within their endowments. The bill is designed to increase transparency and accountability within higher education institutions, particularly in regards to potential foreign influence.

Under this proposed legislation, colleges and universities would be required to report any foreign investments exceeding a certain threshold to the Department of Education. This information would then be made publicly available in order to ensure that stakeholders are aware of any potential conflicts of interest or undue influence from foreign entities.

The bill also includes provisions for the Department of Education to establish guidelines for reporting and monitoring foreign investments, as well as penalties for institutions that fail to comply with the disclosure requirements. Overall, the Foreign Investment Disclosure Act seeks to safeguard the integrity of higher education institutions and protect against potential threats to academic freedom and national security posed by undisclosed foreign investments. It is intended to provide greater transparency and accountability within the higher education sector, while also ensuring that colleges and universities remain free from undue foreign influence.