118th Congress Taxation
S. 3514: To amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of certain private colleges and universities
A bill to amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of certain private colleges and universities.
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill increases the excise tax (from 1.4% to 35%) on the net investment income of private educational institutions whose assets had a aggregate fair market value of at least $10 billion in the preceding taxable year.
Written by the Congressional Research Service, Library of Congress.
Roll calls
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Amendments
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Other bills by James David Vance
History
- Introduced in the Senate by James David Vance.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.