H.R. 8447 · 117th Congress
Protecting Endowments from Our Adversaries Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MurphySponsor9 cosponsors · 9 R
R
Dunn
DL
R
LaHood
AS
R
Smith
LS
R
Smucker
BW
R
Wenstrup
AF
R
Ferguson
RH
R
Hudson
ES
R
Stefanik
BF
R
Fitzpatrick5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill imposes an excise tax equal to 50% of the fair market values of certain investments made by private colleges and universities with assets or endowments exceeding $1 billion. It also taxes 100% of the net income of such investments held during a one-year period.
What it does: CRS summary · Introduced in House · Jul 20, 2022
Protecting Endowments from Our Adversaries Act
This bill imposes an excise tax equal to 50% of the fair market values of certain investments made by private colleges and universities with assets or endowments exceeding $1 billion. It also taxes 100% of the net income of such investments held during a one-year period.
These investments are in certain foreign persons or entities (e.g., Chinese or Russian companies) that are included on lists maintained by the Department of Commerce and the Federal Communications Commission that identify persons or entities engaged in human rights abuses or that pose a threat to U.S. national security.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protecting Endowments from Our Adversaries Act
Latest action (Jul 20, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 20, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.