HB 998

ON MARCH 16, 2026, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1021, AS AMENDED. AMENDMENT #1 r ewrites this bill to make various changes to the Transparency in Foreign Investment Act. Generally, present law requires public institutions of higher education to make certain disclosures concerning gifts from, and contracts entered with, a foreign source when the value of the gift or contract exceeds $10,000. Present law also prohibits pu blic institutions of higher education from accept ing a gift from a foreign source or enter ing into a contract with a foreign source if the institution believes that doing so would threaten: (1) The integrity of the institution's research, instruction, or operations; (2) The institution's intellectual property rights; (3) The protection of confidential information; or (4) The safety and security of the institution, the institution's personnel and students, this state, or the United States. This amendment makes the prohibition against accepting a gift from, or contracting with, a foreign source when an institution believes that doing so would create a threat described in (1)-(4) applicable to both public and private institutions of higher ed ucation. This amendment applies the present law disclosure requirements for foreign gifts and contracts to private institutions of higher education, except that disclosure will only be required for gift s from , or contracts with, a foreign source designated by the United States department of state as a country of particular concern that are valued at more than $50,000 . The present law requirements for public institutions of higher education to report multiple otherwise non-reportable gifts and contracts when the aggregate value exceeds the $10,000 threshold will apply to private institutions of higher education when th e aggregate value exceeds $50,000. The present law requirement that public institutions of higher education submit an annual foreign gifts and contracts disclosure report to the controller and the department of safety, and that the reports be published on the comptroller's website, will apply to private institutions of higher education. The present law prohibition against hosting a Confucius Institute will remain limited to public institutions of higher education.