H.R. 446

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to increase the rate of the excise tax on investment income of private colleges and universities.

IN THE HOUSE OF REPRESENTATIVES · January 15, 2025 · Sponsor: Mr. Nehls · Committee: Committee on Ways and Means

Table of contents

• H.R. 446
  • SEC. 1. Short title
  • SEC. 2. Excise tax based on investment income of private colleges and universities

SEC. 1. Short title

• This Act may be cited as the Endowment Tax Fairness Act.

SEC. 2. Excise tax based on investment income of private colleges and universities

• (a) Increase in rate of tax
  • of the Internal Revenue Code of 1986 is amended by striking 1.4 percentand inserting 21 percent. Section 4968(a)
• (b) Effective date
  • The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
• (c) Federal debt reduction
  • The revenue derived from the amendment made by this section shall be deposited in the general fund of the Treasury and shall be used to reduce the national deficit, to the extent thereof, and thereafter to reduce the national debt.