(a) As used in this Code section, the term:

(1) “Foreign country of concern” means a country whose government is designated as a foreign adversary by the United States Secretary of Commerce pursuant to 15 C.F.R. Section 791.4 in effect on February 4, 2025.

(2) “Foreign entity of concern” means any organization, institution of higher education, association, corporation, or other entity organized under the laws of, or having its principal place of business in, a foreign country of concern or a subsidiary of any such entity.

(3) “Foreign individual of concern” means any official of a foreign country of concern or any individual who is domiciled in a foreign country of concern and who is not a citizen or lawful permanent resident of the United States.

(4) “Funding” means any gift, grant, donation, payment in exchange for services, capital investment, salary, wage, compensation, fee, or other monetary exchange in excess of a cumulative total of $1,000.00.

(b) No later than January 31 and July 31 of each year, except as provided in subsection (c) of this Code section, the university system shall provide to the Governor, the chairperson of the House Committee on Higher Education, and the chairperson of the Senate Higher Education Committee a report detailing all funding received by the university system from a foreign country of concern, a foreign entity of concern, or a foreign individual of concern during the two most recent calendar quarters. Such report shall include:

(1) The amount of funding received;

(2) The type of funding, whether a gift, grant, donation, payment in exchange for services, capital investment, salary, wage, compensation, fee, or other monetary exchange;

(3) A detailed description of the government, entity, or individual providing the funding, including the name and address of such government, entity, or individual;

(4) A copy of any contract, agreement, or memorandum of understanding associated with the funding; and

(5) Details regarding the purpose of the funding and indicating whether the funding was a one-time event or part of a series of funding events.

(c) This Code section shall not require reporting of funding provided by an individual or a family as payment for tuition or related fees for a student or students affiliated with or attending a university system program, class, or course of study.