HB4380: Protecting Endowments from Our Adversaries Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to impose an excise tax on certain investments of private colleges and universities.
Plain-language summary
This bill would add a new tax on certain investments made by private colleges and universities. The tax is called an excise tax, meaning a special tax on specific activities or items. The bill aims to affect how private colleges invest their endowments, which are pools of money set aside for long-term institutional funding. The bill was recently introduced in Congress and has not yet moved through the process.
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HB4380: Protecting Endowments from Our Adversaries Act
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Sponsors
Greg Murphy
Primary SponsorCo-sponsors (7)
Adrian Smith
Elise Stefanik
Neal Dunn
Lloyd Smucker
Scott Franklin