Higher Education Accountability Tax Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 9331 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 9331 To amend the Internal Revenue Code of 1986 to modify the excise tax on investment income of private colleges and universities. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 9, 2024 Mr. Joyce of Ohio (for himself and Ms. Malliotakis) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify the excise tax on investment income of private colleges and universities. 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 ``Higher Education Accountability Tax Act''. SEC. 2. MODIFICATION OF EXCISE TAX ON INVESTMENT INCOME OF PRIVATE COLLEGES AND UNIVERSITIES. (a) Increase in Rate of Tax.--Section 4968(a) of the Internal Revenue Code of 1986 is amended by striking ``1.4 percent'' and inserting ``1…