DETERRENT ACT

Creates the Illinois Defending Education Transparency and Ending Rogue Regimes Engaging in Nefarious Transactions (DETERRENT) Act. Requires an institution to file a disclosure report annually on July 1 when: (1) an institution received a gift from, or entered into a contract with, a foreign source, other than a foreign country of concern or foreign entity of concern, with a value of $50,000 or more, or an undetermined value; (2) an institution receives a gift from a foreign country of concern or foreign entity of concern of any dollar amount; (3) an institution enters into a contract with a foreign country of concern or foreign entity of concern after receiving a waiver for such contract; or (4) an institution is substantially controlled by a foreign source. Requires the Board of Higher Education to establish and maintain a searchable, public database on the Board's website that: (1) contains all reports submitted; (2) includes any information provided in such reports; (3) is searchable and sortable by date filed, date of the gift received or contract entered into, by attributable country of the gift or contract, and by institution; (4) indicates whether a gift is from a foreign government or from a foreign source that is not a foreign government; and (5) indicates when a report does not contain the name or address of a foreign source. Prohibits an institution from entering into any contracts with foreign entities of concern or countries of concern. Provides that private institutions with endowments above $6,000,000,000 or with investments of concern above $250,000,000 shall report: (1) a list of the investments of concern; (2) the aggregate fair market value of all investments of concern; (3) the combined value of all investments of concern; and (4) the combined value of all capital gains from such sales of investments of concern. Sets forth how the Act may be enforced, including fines for violations.

• Andrew S. ChesneyR
• Neil AndersonR
• Terri BryantR