Disclosure of foreign financing of intercollegiate athletics

(a) Disclosure to intercollegiate athletic association (1) In general A covered person shall disclose to the relevant intercollegiate athletic association (except in the case of a covered person that is an intercollegiate athletic association) all amounts that exceed $600 in value received by the covered person relating to intercollegiate athletics from a foreign government, a foreign adversary, a state-owned enterprise, or a sovereign wealth fund. (2) Disclosure deadlines Disclosures under paragraph (1) shall be made not later than 30 days after— (A) entering into a relevant transaction or receiving funds, whichever occurs first; or (B) any material change that would impact a previous disclosure. (b) Report and public availability (1) In general Not later than August 1 of each year, each intercollegiate athletic association shall submit to the Secretary of Education, the Committee on Commerce, Science, and Transportation of the Senate, and the Committee on Energy and Commerce of the House of Representatives a report on— (A) all disclosures received under subsection (a) during the one-year period preceding the date of the report; and (B) any amounts received by the intercollegiate athletic association relating to intercollegiate athletics from a foreign government, a foreign adversary, a state-owned enterprise, or a sovereign wealth fund during the one-year period preceding the date of the report. (2) Public availability Each intercollegiate athletic association shall publish on a publicly available website an updated disclosure containing the matter required under paragraph (1) not later than January 31 and July 31 of each year. (c) Definitions In this section: (1) Covered person The term covered person means— (A) an institution; (B) a conference; or (C) an intercollegiate athletic association. (2) Foreign adversary The term foreign adversary has the meaning given the term covered nation in section 4872 of title 10, United States Code. (3) Sovereign wealth fund The term sovereign wealth fund means an investment fund, investment vehicle, or investment entity established, owned, controlled, or directed by a foreign government.