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Code · BILL · 116th Congress · H.R. 7181 (Introduced in House) — To amend the Sarbanes-Oxley Act of 2002 to require the Public Company Accounting Oversight Board to maintain a list o... · Sec. 4

Sec. 4. Disclosures of foreign gifts

252 words·~1 min read·/bill/116/hr/7181/ih/section-4

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This section may be cited as the Foreign Adversary Funding in Higher Education Act . Section 117(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1011f(a) ) is amended— by striking Whenever any and by inserting the following: Subject to paragraph (2), whenever any ; and by adding at the end the following: Notwithstanding paragraph (1), whenever any institution is owned or controlled by a foreign source listed in subparagraph
(B)or receives a gift from or enters into a contract with that foreign source, paragraph
(1)shall be applied by substituting $25,000 for $250,000 . A foreign source listed in this subparagraph is: The People’s Republic of China. The Russian Federation. The Islamic Republic of Iran. The Democratic People’s Republic of Korea. . Section 117(f)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1011f(f)(2) ) is amended by inserting an amount equal to the amount that the institution failed to report under this section and before the full costs . Section 117 of the Higher Education Act of 1965 ( 20 U.S.C. 1011f ) is further amended— by redesignating subsections
(g)and
(h)as subsections
(h)and (i), respectively; and by inserting after subsection (f), the following: Not later than 180 days after the date of enactment of the Foreign Adversary Funding in Higher Education Act , the Secretary shall establish a publicly available web portal that— enables electronic filing of disclosure reports under this section; and includes any reports filed before such date of enactment. .
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Sec. 4
Disclosures of foreign gifts
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