H.R. 1023, known as the "Reporting on Investments in Foreign Adversaries Act" or the "RIFA Act," aims to amend the Higher Education Act of 1965 to require certain higher education institutions to disclose foreign investments within their endowments, especially those involving foreign...
Simple Explanation
The RIFA Act is like a rulebook that tells colleges they need to tell everyone if they have money from other countries in their savings. If they don't follow the rules, they could get a big timeout called a "fine" and might not be able to play in some important games called "federal education programs."