Senate bill S3514-118

Finance Committee

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.

• Last activity on Dec 14, 2023

• Introduced Dec 14, 2023

• By Sen. Vance, J. D. [R-OH]

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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.

Senate Actions

IntroReferral
Dec. 14 2023	Read twice and referred to the Committee on Finance.

Library of Congress Actions

IntroReferral
Dec. 14 2023	Introduced in Senate

Senate bill S3514-118

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.

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