Homeland Security Counterintelligence Threat Reduction Act This bill directs the Department of Homeland Security (DHS) to take various actions related to counterintelligence activities. DHS shall establish a counterintelligence vetting task force to report to Congress recommendations to improve counterintelligence vetting for DHS programs. DHS shall also develop counterintelligence awareness training as part of an established program for collecting information about nonimmigrant foreign students and other exchange program participants. DHS shall require appropriate faculty from approved educational institutions and exchange visitor programs to participate in the training. DHS shall take various actions related to the program for collecting information about exchange program participants, such as identifying degrees and fields of study that are sensitive for homeland security and counterintelligence purposes. DHS shall notify Congress if it decides to not extend the existence of the Homeland Security Academic Advisory Council.