119-hr1128

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1128 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 1128

To amend the Internal Revenue Code of 1986 to increase the rate of the 
 excise tax based on investment income of private colleges and 
 universities and to broaden the definition of applicable educational 
 institution by lowering the threshold with respect to aggregate fair 
 market value per student, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 7, 2025

 Mr. Lawler introduced the following bill; which was referred to the 
 Committee on Ways and Means

_______________________________________________________________________

 A BILL

To amend the Internal Revenue Code of 1986 to increase the rate of the 
 excise tax based on investment income of private colleges and 
 universities and to broaden the definition of applicable educational 
 institution by lowering the threshold with respect to aggregate fair 
 market value per student, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Endowment Accountability Act''.

SEC. 2. EXCISE TAX BASED ON INVESTMENT INCOME OF PRIVATE COLLEGES AND 
 UNIVERSITIES.

    (a) Increase in Rate of Tax.--

Section 4968

    (a) of the Internal 
Revenue Code of 1986 is amended by striking ``1.4 percent'' and 
inserting ``10 percent''.

    (b) Lowering Asset Per Student Threshold for Definition of 
Applicable Educational Institution.--

Section 4968

    (b)

    (1)
            (D) of such Code 
is amended by striking ``$500,000'' and inserting ``$200,000''.
            (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
 <all>