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A bill to amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of certain private colleges and universities.

USA118th CongressS-3514| Senate 
| Updated: 12/14/2023
J. D. Vance

J. D. Vance

Republican Senator

Ohio

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill increases the excise tax (from 1.4% to 35%) on the net investment income of private educational institutions whose assets had a aggregate fair market value of at least $10 billion in the preceding taxable year.
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Timeline
Dec 14, 2023
Introduced in Senate
Dec 14, 2023
Read twice and referred to the Committee on Finance.
  • December 14, 2023
    Introduced in Senate


  • December 14, 2023
    Read twice and referred to the Committee on Finance.

Taxation

A bill to amend the Internal Revenue Code of 1986 to increase the excise tax on net investment income of certain private colleges and universities.

USA118th CongressS-3514| Senate 
| Updated: 12/14/2023
This bill increases the excise tax (from 1.4% to 35%) on the net investment income of private educational institutions whose assets had a aggregate fair market value of at least $10 billion in the preceding taxable year.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 14, 2023
Introduced in Senate
Dec 14, 2023
Read twice and referred to the Committee on Finance.
  • December 14, 2023
    Introduced in Senate


  • December 14, 2023
    Read twice and referred to the Committee on Finance.
J. D. Vance

J. D. Vance

Republican Senator

Ohio

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted