| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1128 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to increase the rate of the |
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| 6 | 6 | | excise tax based on investment income of private colleges and universities |
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| 7 | 7 | | and to broaden the definition of applicable educational institution by |
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| 8 | 8 | | lowering the threshold with respect to aggregate fair market value per |
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| 9 | 9 | | student, and for other purposes. |
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| 10 | 10 | | IN THE HOUSE OF REPRESENTATIVES |
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| 11 | 11 | | FEBRUARY7, 2025 |
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| 12 | 12 | | Mr. L |
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| 13 | 13 | | AWLERintroduced the following bill; which was referred to the |
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| 14 | 14 | | Committee on Ways and Means |
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| 15 | 15 | | A BILL |
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| 16 | 16 | | To amend the Internal Revenue Code of 1986 to increase |
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| 17 | 17 | | the rate of the excise tax based on investment income |
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| 18 | 18 | | of private colleges and universities and to broaden the |
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| 19 | 19 | | definition of applicable educational institution by low- |
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| 20 | 20 | | ering the threshold with respect to aggregate fair market |
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| 21 | 21 | | value per student, and for other purposes. |
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| 22 | 22 | | Be it enacted by the Senate and House of Representa-1 |
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| 23 | 23 | | tives of the United States of America in Congress assembled, 2 |
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| 24 | 24 | | SECTION 1. SHORT TITLE. 3 |
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| 25 | 25 | | This Act may be cited as the ‘‘Endowment Account-4 |
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| 26 | 26 | | ability Act’’. 5 |
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| 27 | 27 | | VerDate Sep 11 2014 06:43 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1128.IH H1128 |
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| 28 | 28 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 29 | 29 | | •HR 1128 IH |
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| 30 | 30 | | SEC. 2. EXCISE TAX BASED ON INVESTMENT INCOME OF 1 |
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| 31 | 31 | | PRIVATE COLLEGES AND UNIVERSITIES. 2 |
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| 32 | 32 | | (a) I |
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| 33 | 33 | | NCREASE INRATE OFTAX.—Section 4968(a) of 3 |
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| 34 | 34 | | the Internal Revenue Code of 1986 is amended by striking 4 |
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| 35 | 35 | | ‘‘1.4 percent’’ and inserting ‘‘10 percent’’. 5 |
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| 36 | 36 | | (b) L |
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| 37 | 37 | | OWERINGASSETPERSTUDENTTHRESHOLD 6 |
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| 38 | 38 | | FORDEFINITION OFAPPLICABLEEDUCATIONALINSTI-7 |
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| 39 | 39 | | TUTION.—Section 4968(b)(1)(D) of such Code is amended 8 |
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| 40 | 40 | | by striking ‘‘$500,000’’ and inserting ‘‘$200,000’’. 9 |
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| 41 | 41 | | (c) E |
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| 42 | 42 | | FFECTIVEDATE.—The amendments made by 10 |
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| 43 | 43 | | this section shall apply to taxable years beginning after 11 |
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| 44 | 44 | | the date of the enactment of this Act. 12 |
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| 45 | 45 | | Æ |
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| 46 | 46 | | VerDate Sep 11 2014 06:43 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H1128.IH H1128 |
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| 47 | 47 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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