(a) An institution shall not accept a gift from a foreign source or enter into a contract with a foreign source if the institution believes that doing so would threaten:
Terms Used In Tennessee Code 49-7-1804
Contract: A legal written agreement that becomes binding when signed.
Contract: means an agreement for the acquisition by purchase, lease, or barter of property or services between a foreign source and an institution, for the direct benefit or use of either of the parties. See Tennessee Code 49-7-1802
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Foreign source: means :(A) A foreign government, including an agency of a foreign government. See Tennessee Code 49-7-1802
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) The integrity of the institution’s research, instruction, or operations;(2) The institution’s intellectual property rights;(3) The protection of confidential information; or(4) The safety and security of the institution, the institution’s personnel and students, this state, or the United States.(b) If an institution receives a gift from a foreign source valued at more than ten thousand dollars ($10,000), then the institution must disclose the following information with respect to the gift:
(1) The dollar value of the gift;(2) The name and national affiliation of the foreign source funding the gift;(3) The department, college, school, or other business unit of the institution to which the gift was made;(4) The date the gift was received; and(5) A brief description of the gift.(c) If an institution enters into a contract with a foreign source valued at more than ten thousand dollars ($10,000), then the institution must disclose the following information with respect to the contract:
(1) The dollar value of the contract;(2) The name and national affiliation of the foreign source entering into the contract with the institution;(3) The department, college, school, or other business unit of the institution that benefits from the contract;(4) The effective date and termination date of the contract; and(5) A brief description of the terms of the contract.(d) If an institution receives multiple gifts from foreign sources affiliated with the same foreign government, and each of the gifts is valued at ten thousand dollars ($10,000) or less, but the aggregate value of the gifts is more than ten thousand dollars ($10,000), then all of the gifts must be disclosed in accordance with subsection (b).(e) If an institution enters into multiple contracts with foreign sources affiliated with the same foreign government, and each of the contracts is valued at ten thousand dollars ($10,000) or less, but the aggregate value of the contracts is more than ten thousand dollars ($10,000), then all of the contracts must be disclosed in accordance with subsection (c).(f) By July 31, 2021, and by July 31 of each year thereafter, each institution shall prepare a foreign gifts and contracts disclosure report that includes the information required to be disclosed pursuant to this section, and submit the report to the comptroller of the treasury and the department of safety for review. Each report must disclose the foreign gifts received and the foreign contracts entered into during the fiscal year ending on June 30 prior to the reporting deadline. If an institution does not have a gift or contract subject to disclosure under this section, then the institution must submit a foreign gifts and contracts disclosure report stating that the institution does not have a gift or contract subject to disclosure.(g) The comptroller shall make the foreign gifts and contracts disclosure reports publicly available on the comptroller’s website.
