The U.S. House Education and Workforce Committee has approved legislation intended to increase foreign gift reporting requirements for colleges and universities.
Congressman Tim Walberg, chair of the committee, says the DETERRENT Act slashes the foreign gift reporting threshold for colleges and universities from $250,000 down to $50,000, with a stricter $0 for gifts from countries and entities of concern.
“The deterrent act would provide transparency and clarity to foreign gift reporting requirements for colleges and universities,” Walberg said. “We must pass this legislation to protect students from foreign adversaries like China, which are trying to expand their influence in U.S. colleges and universities, spread propaganda, and steal research.”
The act also requires disclosure of foreign gifts and contracts to individual staff and faculty at research-heavy institutions to protect those targeted by adversaries.
Walberg says it’s critical the House approve the legislation to protect students and intellectual property.
