S 1684
A bill to require audits of institutions with respect to disclosures of foreign gifts, and for other purposes.
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 9:07 AM
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill requires audits of colleges and universities to assess their compliance with reporting requirements regarding foreign gifts and contracts. The Secretary of Education will conduct audits, prioritizing institutions based on factors like endowment size, past foreign funding, noncompliance history, and public reporting of contributions from foreign entities of concern. Additionally, the bill introduces excise taxes: 300% of income received from foreign countries of concern and 110% of any unreported foreign funding. These taxes are designed to increase transparency and accountability regarding foreign financial contributions to higher education institutions.
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