Less Bureaucracy, Better International Foreign Gift Transparency Act

Less Bureaucracy, Better International Foreign Gift Transparency ActThis bill transfers specified functions relating to disclosure of foreign gifts and contracts from the Department of Education (ED) to the Department of State.Specifically, the bill transfers to the State Department all the functions and authorities exercised by ED before the bill's effective date related to disclosure of foreign gifts and contracts. (Institutions of higher education must disclose to ED a gift from or contract with a foreign source that is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with that foreign source. On February 23, 2026, ED announced an interagency agreement with the State Department for the State Department to provide support for managing the reporting portal, while ED must maintain its statutory responsibilities and program oversight.)Additionally, the bill transfers to the State Department all personnel and appropriations related to the functions that are transferred under this bill.The bill outlines the authority of the Office of Management and Budget (OMB) related to the functions that are transferred under this bill, including that OMB must ensure that this bill does not create a net increase in full-time equivalent employees at the State Department or ED. Further, OMB must certify compliance with the bill to specified congressional committees.The transfer of these functions does not affect any suits, proceedings, or applications for benefits, services, licenses, permits, certificates, or financial assistance that are pending on the date of this bill's effective date.