To amend the Internal Revenue Code of 1986 to clarify the definition of applicable educational institution for purposes of the excise tax based on the income of private colleges and universities.
About This Bill
Committee
Latest Action · December 12, 2024
Referred to the House Committee on Ways and Means.
This bill clarifies which private colleges and universities must pay a federal excise tax on their net investment income. Specifically, it amends the tax code to ensure that only institutions with more than 500 tuition-paying students at the graduate level or below are subject to this tax requirement. The change applies to taxable years beginning after December 31, 2024, meaning it takes effect starting with the 2025 tax year. The bill was introduced in December 2024 by Representatives Moore of Wisconsin and Grothman and was referred to the House Ways and Means Committee. This technical clarification aims to properly define which educational institutions fall under the federal excise tax rules on investment income.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.