What does Preamble of Higher Education Accountability Tax Act do?

This bill aims to amend the Internal Revenue Code of 1986 The amendment targets the excise tax on investment income Private colleges and universities are the focus of the modification

What does SHORT TITLE. of Higher Education Accountability Tax Act do?

This bill is formally titled the Higher Education Accountability Tax Act.

What does MODIFICATION OF EXCISE TAX ON INVESTMENT INCOME OF PRIVATE of Higher Education Accountability Tax Act do?

This section modifies the excise tax on investment income of private colleges and universities. The tax rate is increased from 1.4 percent to 10 percent. Institutions with net price increases exceeding the Consumer Price Index rate may face a 20 percent tax rate. The threshold for institutions subject to tax is lowered from $500,000 to $250,000. The amendments apply to taxable years beginning after December 31, 2024.

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Higher Education Accountability Tax Act

Last updated: 2/5/2025 · Introduced: 2/5/2025

Author: David Joyce (R-OH)

TL;DR (AI)

The bill increases the excise tax on investment income for private colleges and universities from 1.4% to 10%.
Institutions with net price increases exceeding the Consumer Price Index rate will be subject to a 20% excise tax.
The threshold for private colleges and universities subject to the excise tax is reduced from $500,000 to $250,000.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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