119th Congress · introduced in the House · Feb 5, 2025
RIFA Act
Official title from Congress.gov
Latest action (Feb 5, 2025): Referred to the House Committee on Education and Workforce.
View on Congress.govPolicy area: Education
Congressional Research Service summary, version: 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.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Education and Workforce.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
Civil actions and liability · Education programs funding · Financial services and investments · Government information and archives · Higher education · Subversive activities
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 24, 2026.
9 citations.
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Taxation/Internal Revenue Code
$220,000
Spent on own lobbying
…the tax on university endowments. (No bill number) Discouraged co-sponsorship of legislation to increase the endowment tax, including HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936. Met with legislative staff to discuss the effect of Treasury proposal to revoke non-profit status of private universities that engage in illeg…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Taxation/Internal Revenue Code
$360,000
Spent on own lobbying
…the tax on university endowments. (No bill number) Discouraged co-sponsorship of legislation to increase the endowment tax, including HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936.
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Taxation/Internal Revenue Code
$180,000
Spent on own lobbying
…the tax on university endowments. (No bill number) Discouraged co-sponsorship of legislation to increase the endowment tax, including HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936.
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Taxation/Internal Revenue Code
$180,000
Spent on own lobbying
…the tax on university endowments. (No bill number) Discouraged co-sponsorship of legislation to increase the endowment tax, including HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936.
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Taxation/Internal Revenue Code
$240,000
Spent on own lobbying
…onciliation or other legislation (HR 1, PL 119-21). Discouraged co-sponsorship of legislation to increase the endowment tax, including HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936. Thanked Representatives and Senators for supporting legislation to expand Section 127 tax credits for Employer-Provided educational assistance…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Education
$92,652
Spent on own lobbying
H.R.1048/ S.1296 Defending Education Transparency and Ending Rogue Regimes Engaging in Nefarious Transactions (DETERRENT) Act H.R.1023 Reporting on Investments in Foreign Adversaries (RIFA) Act S.1317 Safefguarding American Education from Foreign Control Act H.R 938 No Contracts for Foreign Ad…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Taxation/Internal Revenue Code
$444,000
Spent on own lobbying
…onciliation or other legislation (HR 1, PL 119-21). Discouraged co-sponsorship of legislation to increase the endowment tax, including HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936. Encouraged Representatives and Senators to support legislation to expand Section 127 tax credits for Employer-Provided educational assistance…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2025 Q1 report (Jan 1, 2025 – Mar 31, 2025) · amended · posted Apr 21, 2025 · issue area: Education
$30,875
Spent on own lobbying
…en and Girls in Sport Act of 2025 H.R.1048/ S.1296 Defending Education Transparency and Ending Rogue Regimes Engaging in Nefarious Transactions (DETERRENT) Act H.R.1023 Reporting on Investments in Foreign Adversaries (RIFA) Act H.R 938 No Contracts for Foreign Adversaries Act H.R.542 No Foreign Gifts Act of 2025 S.163 Protecti…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CORNELL UNIVERSITY · lobbying firm or registrant: CORNELL UNIVERSITY
2025 Q1 report (Jan 1, 2025 – Mar 31, 2025) · posted Apr 21, 2025 · issue area: Taxation/Internal Revenue Code
$230,000
Spent on own lobbying
…university endowment investments as part of budget reconciliation or other legislation (no bill number). Discouraged co-sponsorship of HR 466, HR 716, HR 1006, HR 1023, HR 1128, S 936. Encouraged Representatives and Senators to support legislation to expand Section 127 tax credits for Employer-Provided educational assistance…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing