No Foreign Gifts Act of 2024

The No Foreign Gifts Act of 2024 prohibits colleges and universities receiving federal education funding under the Higher Education Act from accepting gifts from China, Russia, North Korea, or Iran, or from any country the Secretary of State determines has provided material support to a foreign terrorist organization. Institutions must report any offers of such gifts to the Secretary of Education to maintain eligibility for federal funds. The bill amends the Higher Education Act of 1965 to add these restrictions, defining "material support" and "foreign terrorist organization" using existing legal terms without altering their current definitions.