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House Education panel advances bill to tighten foreign‑gift reporting at colleges
Summary
A House Education and Labor subcommittee approved HR 1048, a measure lowering the reporting threshold for foreign gifts and contracts to colleges and creating new disclosure and enforcement measures, after hours of debate about national security, research collaboration and burdens on institutions.
The House Committee on Education and Labor on Monday voted to report HR 1048, titled the Deterrent Act, which would change Section 117 of the Higher Education Act to expand disclosure requirements for foreign gifts and contracts to colleges and universities.
The bill, offered in substitute form by Representative Michael Baumgartner, would reduce the annual reporting threshold for foreign gifts and contracts from $250,000 to $50,000 for all foreign sources and to $0 for designated "countries of concern," and would expand reporting to include gifts to individual staff and endowment investments at large private institutions. "There is no greater weapon in America's arsenal of democracy than sunlight," Baumgartner said while explaining the amendment in the nature of a substitute.
Supporters framed the…
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