HB1450 - Relating to requiring public institutions of higher education to report certain information regarding gifts, grants, donations, and investments received from certain foreign sources.

  89R2619 CXP-D     By: Capriglione H.B. No. 1450       A BILL TO BE ENTITLED   AN ACT   relating to requiring public institutions of higher education to   report certain information regarding gifts, grants, donations, and   investments received from certain foreign sources.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter Z, Chapter 51, Education Code, is   amended by adding Section 51.986 to read as follows:           Sec.   51.986.     REPORTS ON GIFTS, GRANTS, DONATIONS, AND   INVESTMENTS RECEIVED FROM CERTAIN FOREIGN SOURCES. (a) In this   section:                 (1)     "Coordinating board"   means the Texas Higher   Education Coordinating Board.                 (2)  "Foreign source" means:                       (A)     a foreign government or agency of a foreign   government;                       (B)     a legal entity, including a for-profit or   nonprofit organization, created solely under the laws of a foreign   government or an affiliate or subsidiary acting on behalf of the   legal entity;                       (C)     an individual who is not a citizen or   national of the United States, including a territory or   protectorate of the United States; or                       (D)     an agent acting on behalf of an individual or   entity described by Paragraph (A), (B), or (C).                 (3)     "Institution of higher education"   has the meaning   assigned by Section 61.003.           (b)     Four times each year on dates designated by the   coordinating board, each institution of higher education shall   prepare and submit to the coordinating board a report detailing   each gift, grant, donation, or investment the institution received   from a foreign source during the most recent calendar quarter.           (c)     Unless disclosure of the information is prohibited or   the information is confidential under federal or state law, the   report must include for each gift, grant, donation, or investment:                 (1)     the amount of money or other thing of value   received;                 (2)     the date on which the money or other thing of value   was received;                 (3)     the identity of the foreign source and, if not a   foreign government, the country of citizenship, if known, and the   country of principal residence or domicile of the foreign source;                 (4)     the purpose for which the money or other thing of   value is being used; and                 (5)     any conditions established by the foreign source   regarding how the money or other thing of value may be used.           (d)     The coordinating board shall make available to the   public on the coordinating board's Internet website each report   made under this section.           (e)     The coordinating board may adopt rules as necessary to   implement this section.          SECTION 2.  This Act takes effect January 1, 2026.