Bill > HR6165

This bill, the Reporting on Investments in Foreign Adversaries Act (RIFA Act), would amend the Higher Education Act to require non-public colleges and universities with over $6 billion in total assets or $250 million in investments of concern (investments related to foreign countries or entities deemed threats to U.S. national security) to annually report on these investments. The bill specifies the required contents of the report, including a list of investments, their aggregate value, and related capital gains. It also establishes procedures for certifying certain pooled investment funds, requires the designation of a compliance officer, and directs the creation of a public database for the reported information. The bill also authorizes the Secretary of Education to investigate potential violations and impose fines on institutions that fail to comply.