S 3514 · 118th Congress · 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.

Introduced 2023-12-14· Sponsored by Sen. Vance, J. D. [R-OH]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2023-12-14)

Plain Language Summary

[AI summary unavailable — showing source text] 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.   …

Summarized by Claude AI · Non-partisan · For informational purposes only