Conditional gift: means a gift as defined in Subsection (4) that is subject to conditions:
(a)
imposed, requested, or provided by a foreign government or foreign person; and
(b)
that relate to:
(i)
what kinds of teachers or students may benefit from the gift; or
(ii)
a description of the subject matter to be taught with the support of the gift. See Utah Code 53B-1-201
Contract: A legal written agreement that becomes binding when signed.
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 person: means :
(a)
a foreign government defined in Subsection (2);
(b)
an individual who is not a citizen or national of the United States or of a territory or protectorate of the United States;
(c)
a corporation, partnership, joint venture, proprietorship, trust, association, or other entity that is created or organized under the laws of a foreign government or that has its principal place of business located outside the United States;
(d)
if known by the higher education institution, a corporation, partnership, joint venture, proprietorship, trust, association, or other entity that is created or organized pursuant to the laws of the United States or a state within the United States, if a majority of the stock or other equity interest is directly or indirectly owned by, or which derives a majority of its funding from:
(i)
a foreign government;
(ii)
an individual described in Subsection (3)(b); or
(iii)
an entity described in Subsection (3)(c) or (d); or
(e)
if known by the higher education institution, a committee or other group in which a majority of the membership is composed of:
Gift: means an endowment, scholarship, gift, donation, or grant of money or property of any kind. See Utah Code 53B-1-201
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Higher education institution: means an institution in the state system of higher education as defined in Section 53B-1-102. See Utah Code 53B-1-201
a company that the United States Secretary of Defense is required to list as a military company under the requirements of federal national defense authorization acts;
(b)
any affiliate of a company described in Subsection (6)(a);
(c)
the country with a commercial or defense industrial base of which a company described in Subsection (6)(a) is a part; or
(d)
any subsidiary of a company described in Subsection (6)(a) or a country described in Subsection (6)(c). See Utah Code 53B-1-201
United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(a)
Except as provided in Subsection (1)(c), on or before July 31 of each year, a higher education institution shall disclose to the board, by filing a disclosure report described in Subsection (2), a gift received by the higher education institution of $50,000 or more from a foreign person, considered alone or in combination with all other gifts from the foreign person, during the period beginning July 1 and ending on June 30 immediately preceding the July 31 deadline.
(b)
A higher education institution may rely on the following address of a foreign person to determine the citizenship or nationality of the foreign person if the citizenship or nationality is unknown:
(i)
for a foreign person that is an individual, the principal residence; and
(ii)
for a foreign person that is not an individual, the principal place of business.
(c)
The $50,000 amount described in Subsection (1)(a) is increased to $250,000 if the gift, considered alone or in combination with all other gifts, described in Subsection (1)(a) is from a foreign person:
(i)
with a principal residence or principal place of business located in the United States; and
(ii)
with a permanent resident status:
(A)
under Section 245 of the Immigration and Nationality Act; and
(B)
for 10 years or more.
(2)
A disclosure report regarding all gifts described in Subsection (1) shall include:
(a)
the amount of each gift described in Subsection (1);
(b)
the date on which each gift described in Subsection (1) was received by the higher education institution;
(c)
the name of the foreign person making each gift described in Subsection (1);
(d)
the aggregate amount of all gifts described in Subsection (1) from a foreign person during the prior fiscal year of the higher education institution;
(e)
for a conditional gift, a description of the conditions or restrictions related to the conditional gift;
(f)
for a conditional gift:
(i)
for a foreign person that is an individual, if known, the country of citizenship or principal residence of the individual; or
(ii)
for a foreign person that is not an individual, if known, the country of incorporation or place of business of the foreign person; and
(g)
for a conditional gift that is a contract entered into between a higher education institution and a foreign person:
(i)
the amount;
(ii)
the date;
(iii)
a description of all conditions or restrictions; and
(iv)
the name of the foreign person.
(3)
A disclosure report required by this section is a public record open to inspection and review during the higher education institution’s business hours.
(4)
At the request of the board, the attorney general may file a civil action to compel a higher education institution to comply with the requirements of this section.
Beginning July 1, 2023, a higher education institution may not seek or accept funding support from a restricted foreign entity or an entity that passes on funding support from a restricted foreign entity.
