This bill changes how colleges report foreign gifts and contracts to ensure transparency and prevent foreign influence. It aims to protect educational institutions from potentially harmful foreign funding.
Defending Education Transparency and Ending Rogue Regimes Engaging in Nefarious Transactions Act or the DETERRENT Act This bill expands oversight and disclosure requirements related to foreign sources and institutions of higher education (IHEs). Specifically, the bill requires an IHE to annually disclose to the Department of Education (ED) any year in which the IHEreceives a gift from a foreign country of concern (e. g., China or Russia) or foreign entity of concern of any dollar amount; receives a gift or contract from a foreign source (other than a foreign country of concern or foreign entity of concern) that is valued at $50,000 or more, considered alone or in combination with all other gifts or contracts within a calendar year (current disclosure threshold is $250,000 or more), or which has an undetermined monetary value; enters into a contract with a foreign country of concern or foreign entity of concern after receiving a waiver for such contract; oris substantially controlled by a foreign source. Additionally, the billprohibits IHEs from entering into contracts with a foreign country of concern or with a foreign entity of concern without obtaining a waiver, requires certain IHEs to disclose gifts or contracts between covered individuals (e. g., researchers) and foreign sources, andrequires private IHEs with specified assets or investments to file annual investment disclosure reports. The bill requires ED to investigate possible violations of this bill and outlines the various penalties for each violation. Penalties may include losing eligibility for federal student financial aid.