Higher Education Accountability Tax Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1006 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1006 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 February 5, 2025 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 …