119th Congress Education
H.R. 1023: RIFA Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires private institutions of higher education (IHEs) with specified assets or investments involving foreign countries or entities of concern to file annual investment disclosure reports. The bill applies to a private IHE with (1) assets in excess of $6 billion, or (2) investments of concern in excess of $250 million.
Specifically, the bill requires such a private IHE to file a disclosure report with the Department of Education (ED) for a year in which the IHE purchases, sells, or holds one or more investments of concern. Investment of concern means any specified interest (e.g., stock or debt) with respect to a foreign country of concern (e.g., North Korea, China, Russia, or Iran) or a foreign entity of concern (e.g., a foreign entity that is designated as a foreign terrorist organization).
Additionally, the bill requires ED to establish and maintain a publicly available and searchable database with these disclosure reports.
Read the full summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Mark Harris R-NCOriginal
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Other bills by Clarence Owens
History
- Introduced in the House by Clarence Owens.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Education and Workforce.