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To amend the Internal Revenue Code of 1986 to increase the excise tax on investment income of private colleges and universities and provide greater funding to career and technical education.
Summary
- Increases the excise tax on investment income of private colleges and universities from 8 percent to 15 percent under the Internal Revenue Code.
- Directs the Secretary of the Treasury to transfer the additional revenue from the excise tax increase annually to career and technical education programs.
- The transferred funds go to the Carl D. Perkins Career and Technical Education Act of 2006 program to support career and technical education in the states.
- The amount transferred each year equals the increase in revenue generated by the 3 percent excise tax increase on college and university investment income.
- The excise tax increase and funding transfer provisions take effect for taxable years beginning 12 months 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)
- Sen. Moody, Ashley [R-FL] (R-FL)
Actions (2)
- Jun 24, 2026 Read twice and referred to the Committee on Finance. · senate
- Jun 24, 2026 Introduced in Senate
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.
Full text
IN THE SENATE OF THE UNITED STATES
June 24, 2026
Mrs. Moody introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to increase the excise tax on investment income of private colleges and universities and provide greater funding to career and technical education.
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 “Technical Reinvestment and Apprenticeship Development through Endowment Sharing Act” or the “TRADES Act”.
SEC. 2. SUPPORTING CAREER AND TECHNICAL EDUCATION FOR AMERICANS.
(a) In General.—Section 4968(b)(3) of the Internal Revenue Code of 1986 is amended by striking “8 percent” and inserting “15 percent”.
(b) Funding for Career and Technical Education.—In addition to any other amounts made available to provide assistance to States under title I of the Carl D. Perkins Career and Technical Education Act of 2006 (20 U.S.C. 2321 et seq.), the Secretary of the Treasury (or the Secretary’s delegate) shall, on an annual basis, transfer to such program, from amounts in the general fund of the Treasury of the United States, an amount determined by the Secretary of the Treasury (or the Secretary’s delegate) to be equal to the increase in revenue for the preceding 12-month period by reason of the amendments made by subsection (a).
(c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after the date which is 12 months after the date of enactment of this Act. <all>
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