S. 2060: Foreign Funding Accountability Act of 2021

117th Congress · introduced 2021-06-15 · Education · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2021-06-15 · official record
Who proposed it: Sen. Cotton, Tom [R-AR] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Foreign Funding Accountability Act of 2021

Plain summary

Foreign Funding Accountability Act of 2021 This bill requires institutions of higher education (IHEs) to disclose additional information related to gifts and contracts from foreign sources. Under current law, an IHE is required to disclose in a report to the Department of Education (ED) a gift or contract that is from a foreign source and is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with a foreign source. The bill instead requires the IHE to disclose such a gift or contract that is valued at $25,000 or more, considered alone or in combination with all other gifts or contracts. In-kind gifts, gifts to foundations, and gifts to other legal entities that operate substantially for the benefit of the IHE are included in this limit. An IHE must disclose additional information in its report, including the intended purpose and function of the gift or contract. Further, an IHE must disclose gifts and contracts from foreign agents. Next, the bill authorizes ED to impose civil penalties on an IHE for failing to comply with disclosure requirements. An IHE that has violated these disclosure requirements three or more times shall be ineligible to enroll foreign students under the Student and Exchange Visitor Program and shall lose its tax-exempt status. An IHE must submit to ED a report for every qualifying event (e.g., each time it received a gift or contract valued at $25,000 or more) that occurred since October 7, 1998.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

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A “Nay” vote

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What does this mean? (plain words)

Official text

Foreign Funding Accountability Act of 2021

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Cotton, Tom [R-AR] · 3 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Tim Scott (R-SC), Marsha Blackburn (R-TN), Bill Hagerty (R-TN)

Sponsor's campaign money: Sen. Cotton, Tom [R-AR] reported raising $7.1 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s2060.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>

Record fed-us-cong117-s2060 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117