H.R. 446 · 119th Congress
Endowment Tax Fairness Act
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NehlsSponsor3 cosponsors · 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases the excise tax on the net investment income of certain private university and college endowments.
What it does: CRS summary · Introduced in House · Jan 15, 2025
Endowment Tax Fairness Act
This bill increases the excise tax on the net investment income of certain private university and college endowments.
Under current law, certain private universities and colleges with 500 or more tuition-paying students (of which more than 50% are located in the United States) and endowments that are at least $500,000 per student pay an excise tax in the amount of 1.4% on the net investment income from such endowments.
The bill increases the amount of the excise tax to 21% of the net investment income from such university and college endowments.
Further, the bill provides that amounts collected from the increase to the excise tax on the net investment income from such university and college endowments are (1) to be deposited into the general fund of the Treasury; and (2) used to reduce the national deficit and, subsequently, the national debt.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Endowment Tax Fairness Act
Latest action (Jan 15, 2025): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 15, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.