Disclosure of foreign gifts

(a) Value of gifts Section 117(a) of the Higher Education Act of 1965 (20 U.S.C. 1011f(a)) is amended by striking $250,000 and inserting $50,000. (b) Contents of report Section 117(b) of the Higher Education Act of 1965 (20 U.S.C. 1011f(b)) is amended— (1) in paragraph (2), by inserting and, when available, the specific department, agency, office, or division of the foreign government responsible for the gift or contract before the period at the end; (2) in paragraph (3), by inserting and, when available, the specific department, agency, office, or division of the foreign government responsible for the gift or contract before the period at the end; and (3) by adding at the end the following: (4) If available, the purpose or intention of a foreign gift or contract. If no purpose or intention is identified with respect to the gift or contract, the institution shall report the intended use of such gift or contract and the account or the department of such institution that will receive such gift or contract.. (c) Additional disclosures for restricted and conditional gifts Section 117(c)(2) of the Higher Education Act of 1965 (20 U.S.C. 1011f(c)(2)) is amended by inserting and, when available, the specific department, agency, office, or division of the foreign government responsible for the gift or contract before the period at the end. (d) Applicability This section and the amendments made by this section shall take effect on the date that is 1 year after the date of the enactment of this Act.