(a) An institution of higher education that has been offered directly or indirectly a gift with a value equal to or greater than two hundred fifty thousand dollars ($250,000) from a foreign adversary after August 5, 2025, shall disclose the proposed gift to the governing board of the institution of higher education.
(b) Unless otherwise prohibited or deemed confidential under state or federal law, the disclosure required under subsection (a) of this section shall include without limitation the:(1) Date of the gift;(2) Amount of the gift;(3) Purpose of the gift;(4) Identification of the person for whom the gift is explicitly intended to benefit;(5) Applicable conditions, requirements, restrictions, or terms made part of the gift;(6) Name and country of residence or domicile of the foreign adversary;(7) Name and mailing address of the disclosing entity; and(8) Date of termination of the gift, as applicable.
(1) Date of the gift;
(2) Amount of the gift;
(3) Purpose of the gift;
(4) Identification of the person for whom the gift is explicitly intended to benefit;
(5) Applicable conditions, requirements, restrictions, or terms made part of the gift;
(6) Name and country of residence or domicile of the foreign adversary;
(7) Name and mailing address of the disclosing entity; and
(8) Date of termination of the gift, as applicable.
(c) (1) Within thirty (30) days of receiving the disclosure of the proposed gift under subsection (a) of this section, the governing board of an institution of higher education shall issue a final decision to the institution of higher education on whether and under what conditions the institution of higher education may accept the gift.(2) The governing board of the institution of higher education shall reject a gift from a foreign adversary unless there is an overwhelming state or national interest in accepting the gift.
(1) Within thirty (30) days of receiving the disclosure of the proposed gift under subsection (a) of this section, the governing board of an institution of higher education shall issue a final decision to the institution of higher education on whether and under what conditions the institution of higher education may accept the gift.
(2) The governing board of the institution of higher education shall reject a gift from a foreign adversary unless there is an overwhelming state or national interest in accepting the gift.
(d) (1) The governing board of an institution of higher education shall develop:(A) A disclosure form;(B) Rules; and(C) Procedures, for deciding whether to allow an institution of higher education to accept a gift from a foreign adversary.(2) A gift from a foreign adversary shall only be accepted if the gift addresses an overwhelming state or national interest beyond simply acquiring additional funds.
(1) The governing board of an institution of higher education shall develop:(A) A disclosure form;(B) Rules; and(C) Procedures, for deciding whether to allow an institution of higher education to accept a gift from a foreign adversary.
(A) A disclosure form;
(B) Rules; and
(C) Procedures, for deciding whether to allow an institution of higher education to accept a gift from a foreign adversary.
(2) A gift from a foreign adversary shall only be accepted if the gift addresses an overwhelming state or national interest beyond simply acquiring additional funds.
(e) An institution of higher education shall maintain a public website to disclose information on accepted gifts from foreign adversaries.
(f) For purposes of this section, a gift received from a foreign adversary through an intermediary shall be considered an indirect gift to the institution of higher education and is subject to the approval process described in this section.
(g) Upon a request of the Governor, the President of the Senate, or the Speaker of the House of Representatives, the governing board of an institution of higher education shall inspect or audit a gift or gift agreement.