H.R. 1023 · 119th Congress
RIFA Act
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R
OwensSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Reporting on Investments in Foreign Adversaries Act or the RIFA Act
What it does: CRS summary · Introduced in House · Feb 5, 2025
Reporting on Investments in Foreign Adversaries Act or the RIFA Act
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.
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 nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: RIFA Act
Also known as: Reporting on Investments in Foreign Adversaries Act
Latest action (Feb 5, 2025): Referred to the House Committee on Education and Workforce.
Policy area: Education · Origin: House · Introduced: Feb 5, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.