Disclose GIFT Act

Summary

Disclose Getting Involved in Foreign Transactions Act or the Disclose GIFT Act This bill requires certain institutions of higher education (IHEs) to disclose gifts or contracts between covered individuals (e.g., researchers) and foreign sources. This bill applies to an IHE that (1) is an eligible institution for purposes of federal student aid programs, and (2) has received more than $50 million in federal funds in any of the previous five calendar years (with at least part to support research and development) or that receives certain other federal funds. Specifically, the bill requires an IHE to maintain • a policy requiring covered individuals employed at the IHE to annually disclose gifts received from, or contracts entered into with, a foreign source; • a publicly available and searchable database with the disclosed information, excluding personally identifiable information; and • a plan to identify and manage potential information gathering by foreign sources through espionage targeting covered individuals that may arise from such gifts or contracts. The bill requires the Department of Education (ED) to investigate possible violations of this bill and outlines the various penalties for each violation. Additionally, ED must maintain a single point of contact to, among other duties, receive and respond to inquiries and requests for technical assistance from IHEs regarding compliance with the requirements of the bill. IHEs must also establish policies and designate compliance officers. The Government Accountability Office must study and report on ways to improve intergovernmental agency coordination for implementing and enforcing disclosure reporting requirements.