Fairness and Accountability in Underwriting Chinese Institutions Act or the FAUCI Act This bill prohibits making any federal funding available to laboratories or research institutions in China for gain-of-function research. The President may waive this prohibition for national security interests. (Under the bill, gain-of-function research generally involves the enhancement of potential pandemic pathogens or related risky research with potentially dangerous pathogens.) Furthermore, if the Office of the Inspector General of the Department of Health and Human Services determines that a National Institutes of Health official, employee, or grantee has intentionally misled or omitted information in a relevant disclosure (e.g., to Congress) about federal funding for international gain-of-function research, such a person shall be ineligible for any federal funding or federal employment.