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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.
Summary
- Increases the excise tax on investment income of private colleges and universities from 1.4 percent to 10 percent.
- Lowers the threshold for colleges subject to this tax from $500,000 to $200,000 in aggregate fair market value per student.
- Expands the definition of applicable educational institutions to include more private colleges and universities through the lower threshold.
- Applies to taxable years beginning after the bill's enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
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![Rep. Lawler, Michael [R-NY-17]](https://media.civicgate.org/people/d/politicians/L000599.thumb.jpg)
Rep. Lawler, Michael (R-NY) [#17]
Money behind the sponsor
Top reported contributors to Michael Lawler’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- BLACKSTONE $30,317
- Employer not reported $21,373
- CEO $20,320
- APOLLO GLOBAL MANAGEMENT $16,500
- BRODIE GENERATIONAL CAPITAL PARTNERS $16,500
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Michael Lawler → · Outside spending →
Actions (2)
- Feb 7, 2025 Referred to the House Committee on Ways and Means. · house
- Feb 7, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
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>
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