1. Short title This Act may be cited as the Disclose Getting Involved in Foreign Transactions Act or the Disclose GIFT Act . 2. Policy regarding conflicts of interest from foreign gifts and contracts (a) In general Part B of title I of the Higher Education Act of 1965 ( 20 U.S.C. 1011 et seq. ) is amended by inserting after section 117 the following: 117A. Institutional policy regarding foreign gifts and contracts to faculty and staff (a) Requirement To maintain policy and database Beginning not later than 90 days after the date of the enactment of the Disclose GIFT Act , each institution described in subsection (b) shall maintain— (1) a policy requiring faculty, professional staff, and other staff engaged in research and development (as determined by the institution and measured by the Higher Education Research and Development Survey of the National Center for Science and Engineering Statistics) employed at the institution to disclose in a report to such institution on July 1 of each calendar year that begins after the year in which such enactment date occurs— (A) any gift received from a foreign source in the previous calendar year, the value of which is greater than the minimal value (as such term is defined in section 7342(a) of title 5, United States Code) or is of undetermined value, and including the date on which the gift was received; (B) any contract entered into with a foreign source in the previous calendar year, the value of which is $5,000 or more, considered alone or in combination with all other contracts with that foreign source within the calendar year, and including the date on which such contract commences and, as applicable, the date on which such contract terminates; (C) any contract with a foreign source in force during the previous calendar year that has an undetermined monetary value, and including the date on which such contract commences and, as applicable, the date on which such contract terminates