This bill mandates the South Dakota Board of Technical Education and the Board of Regents to report any funding received from foreign sources. A new section is added to chapter 13-39A, defining key terms such as "foreign entity," "foreign government," "foreign person," and "foreign source," which includes entities from specific countries like China, Cuba, Iran, North Korea, Russia, and Venezuela. The bill specifies that the boards must disclose details about the funding in an annual report, including the amount, source, purpose, and any associated documents. The reports are to be published on their respective websites by August 31 each year, and the requirements apply only to funding received on or after July 1, 2026.

Additionally, similar provisions are established for the Board of Regents in chapter 13-49, with definitions and reporting requirements mirroring those set for the Board of Technical Education. Both sections emphasize that confidential information under state or federal law does not need to be disclosed. The bill aims to enhance transparency regarding foreign funding to educational institutions in South Dakota.