S. 3514 · 118th Congress
A bill to amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of…
Full title
A bill to amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of certain private colleges and universities.
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
VanceSponsorNo cosponsors.
This bill increases the excise tax (from 1.4% to 35%) on the net investment income of private educational institutions whose assets had a aggregate fair market value of at least $10 billion in the preceding taxable year.
What it does: CRS summary · Introduced in Senate · Dec 14, 2023
This bill increases the excise tax (from 1.4% to 35%) on the net investment income of private educational institutions whose assets had a aggregate fair market value of at least $10 billion in the preceding taxable year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of certain private colleges and universities.
Latest action (Dec 14, 2023): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Dec 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.