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H.R. 1023 119th Congress House

RIFA Act

Official title: To amend the Higher Education Act of 1965 to require disclosure of certain foreign investments within endowments, and for other purposes.

Introduced: February 5, 2025 Introduced by: Burgess Owens Republican · Utah See on congress.gov
Education Civil actions and liabilityEducation programs fundingFinancial services and investmentsGovernment information and archives
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 5, 2025
Referred to the House Committee on Education and Workforce.
Feb 5, 2025
Introduced in House
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What's happening now February 5, 2025

Referred to the House Committee on Education and Workforce.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 10

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

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 Cosponsors 1
All 1 Republican 1
R
Harris, Mark
North Carolina · Feb 5, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1023: RIFA Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-1023/
MLA
"H.R. 1023: RIFA Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-1023/.
Bluebook (legal)
H.R. 1023, 119th Cong. (2026), https://openamerica.io/bill/119-HR-1023/.
Markdown link
[H.R. 1023: RIFA Act](https://openamerica.io/bill/119-HR-1023/)
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