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Protecting American Students Act
To amend the Internal Revenue Code of 1986 to exclude certain students from the calculation to determine if certain private colleges and universities are subject to the excise tax on net investment income, and for other purposes.
Summary
The bill amends the Internal Revenue Code to exclude certain students from the calculation used to determine whether private colleges and universities are subject to the excise tax on net investment income. Specifically, only students who meet the student eligibility requirements under Section 484(a)(5) of the Higher Education Act of 1965 will be counted in the student enrollment calculation. The bill requires private colleges and universities subject to the excise tax to report both the number of students counted before and after the application of this eligibility requirement. The changes are effective for taxable years beginning after December 31, 2025.
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)
8 cosponsors
Money behind the sponsor
Top reported contributors to Vern Buchanan’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- SELECT MEDICAL CORPORATION $43,200
- FLORIDA CRYSTALS $16,100
- DERICK DERMATOLOGY $13,200
- BLACKSTONE $8,100
- CASL $7,609
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Vern Buchanan → · Outside spending →
Actions (2)
- Mar 6, 2025 Referred to the House Committee on Ways and Means. · house
- Mar 6, 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
March 6, 2025
Mr. Buchanan (for himself, Mr. Smith of Nebraska, Mr. Kelly of Pennsylvania, Mrs. Miller of West Virginia, Mr. Murphy, Ms. Tenney, and Ms. Van Duyne) 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 exclude certain students from the calculation to determine if certain private colleges and universities are subject to the excise tax on net investment income, 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 “Protecting American Students Act”.
SEC. 2. CERTAIN STUDENTS NOT TAKEN INTO ACCOUNT FOR PURPOSES OF CALCULATION TO DETERMINE IF CERTAIN PRIVATE COLLEGES AND UNIVERSITIES ARE SUBJECT TO EXCISE TAX ON NET INVESTMENT INCOME.
(a) In General.—Section 4968(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
“(3) Certain students not taken into account in determining endowment threshold.—For purposes of paragraph
(1)(D), a student shall not be taken into account with respect to an eligible educational institution unless such student meets the student eligibility requirements under section 484(a)(5) of the Higher Education Act of 1965 (20 U.S.C. 1091(a)(5)).”.
(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2025.
SEC. 3. REQUIREMENT TO REPORT CERTAIN INFORMATION WITH RESPECT TO APPLICATION OF EXCISE TAX BASED ON INVESTMENT INCOME OF PRIVATE COLLEGES AND UNIVERSITIES.
(a) In General.—Section 6033 of the Internal Revenue Code of 1986 is amended by redesignating subsection (o) as subsection (p) and by inserting after subsection (n) the following new subsection:
“(o) Requirement To Report Certain Information With Respect To Excise Tax Based on Investment Income of Private Colleges and Universities.—Each applicable educational institution described in section 4968(b) which is subject to the requirements of subsection (a) shall include on the return required under subsection (a)—
“(1) the number of students taken into account for purposes of the calculation in paragraph (1)(D) of section 4968(b) (determined before the application of paragraph (3) of such section), and
“(2) the number of students taken into account for purposes of the calculation in paragraph (1)(D) of section 4968(b) (determined after the application of paragraph (3) of such section).”.
(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2025. <all>
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