This bill, known as the "No Subsidies for Wealthy Universities Act," aims to significantly limit the reimbursement of indirect costs for Federal research awards granted to institutions of higher education. It establishes a tiered system where the allowable indirect cost rate is determined by the university's endowment fund value, seeking to reduce federal funding for administrative overhead at institutions with substantial financial resources. Specifically, institutions with endowment funds exceeding $5,000,000,000 would be prohibited from using any Federal research award funds for indirect costs. For universities with endowments between $2,000,000,000 and $5,000,000,000 , the indirect cost rate would be capped at 8 percent . All other institutions of higher education would face a maximum indirect cost rate of 15 percent . The Commissioner for Education Statistics is tasked with annually collecting and categorizing institutions based on their endowment values, with this data then distributed to agencies and the public. Additionally, the bill mandates that the Comptroller General of the United States prepare annual reports to Congress detailing how reimbursed indirect costs are utilized, specifically identifying amounts spent on administrative staff compensation , including those with responsibilities related to diversity, equity, and inclusion . These reports will also identify top research fields, awarding agencies, and recipient institutions. This Act will take effect one year after its enactment, applying to all Federal research awards made thereafter.