This bill significantly amends Section 117 of the Higher Education Act of 1965 to strengthen disclosure requirements for U.S. higher education institutions receiving foreign gifts or contracts. Institutions must now file disclosure reports with the Secretary of Education by January 31 or July 31 if they are owned or controlled by a foreign source, or if they receive gifts or contracts exceeding specific thresholds. A key change is the establishment of a $250,000 threshold for foreign sources not associated with a "covered nation," while any gift or contract of any value from a foreign source associated with a "covered nation" triggers a disclosure requirement. A crucial provision mandates that the Secretary of Education transmit copies of all disclosure reports, documents, and records received from institutions to the Director of the Federal Bureau of Investigation and the Director of National Intelligence within 10 days of receipt. Furthermore, within 90 days of the Act's enactment, the Secretary must transmit all previously received and generated records related to Section 117 compliance to these intelligence agencies. This aims to increase oversight and address potential national security concerns related to foreign influence in American education.