The Combatting Foreign Funding of Higher Education Act mandates that public institutions of higher education in Iowa report annually on funding received from foreign sources. Each institution must prepare a report by December 31 that details the amount, type, and purpose of the funding, as well as information about the foreign source providing it. The report must be posted on the institution's website, shared with the governor and the general assembly, and updated regularly. These reports and any updates are classified as public records.

Additionally, the bill empowers the attorney general to take legal action against institutions that fail to comply with the reporting requirements. However, it specifies that payments made by individuals qualifying as foreign sources for tuition or related fees to support a student do not need to be reported. The provisions of this act will take effect on January 1, 2026.