Protecting Endowments from Our Adversaries Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 5234 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 5234 To amend the Internal Revenue Code of 1986 to impose an excise tax on certain investments of private colleges and universities. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES September 25, 2024 Mr. Ricketts (for himself, Mr. Cotton, and Mrs. Fischer) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to impose an excise tax on certain investments 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 ``Protecting Endowments from Our Adversaries Act''. SEC. 2. EXCISE TAX ON CERTAIN INVESTMENTS OF PRIVATE COLLEGES AND UNIVERSITIES. (a) In General.--Subchapter H of chapter 42 of the Internal Revenue Code of 1986 is amended by adding at the end the following n…