HR 1128 ยท Endowment Accountability Act
Referred to the House Committee on Ways and Means.
- Introduced
- Feb 7, 2025
- Latest action
- Feb 7, 2025
- Sponsor
- Rep. Michael Lawler [R-NY-17]
- Policy area
- Taxation
- Cosponsors
- 0
Summary
Endowment Accountability Act This bill increases the excise tax on the net investment income of certain private university and college endowments. The bill also expands the number of endowments subject to the excise tax by lowering the endowment asset amount per-student threshold. 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 (per-student threshold) 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 10% of the net investment income from such university and college endowments and lowers the per-student threshold to $200,000.
Recent actions
- Feb 7, 2025 Referred to the House Committee on Ways and Means.
- Feb 7, 2025 Introduced in House
- Feb 7, 2025 Introduced in House
Votes
No recorded votes are available for this bill.