Only the right has signed this so far (Bill Ranking)
H.R. 1006 · 119th Congress (2025-2026)
2 members · Left 0 · Center 1 · Right 1 (Bill Ranking)
| Sponsor | Rep. Joyce, David P. (R-OH) (Introduced 02/05/2025) |
|---|---|
| Sponsor Voting Record | Center · DW-NOMINATE +0.25 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking) |
| Support |
LLLCLRR support across the spectrum: 2 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once |
| Committees | House - Ways and Means Committee |
| Latest Action | 02/05/2025 Referred to the House Committee on Ways and Means. |
| Roll Call Votes | There have been no roll call votes |
| Source | view on congress.gov → |
Introduced in House (02/05/2025)
Higher Education Accountability Tax Act
This bill increases the excise tax on the net investment income of certain private university and college endowments and expands the number of universities and colleges that are subject to the excise tax.
Under current law, certain private universities and colleges with 500 or more tuition-paying students (of which more than 50% are located in the United States) and endowment assets of at least $500,000 per student (per student threshold) pay an excise tax in the amount of 1.4% on the net investment income from such endowments. Endowment assets that are used directly in carrying out the institution's tax-exempt educational purpose are excluded from the tax.
The bill increases the amount of the excise tax to (1) 10% of the net investment income from a university and college endowment, or (2) 20% of the net investment income from a university and college endowment maintained by an institution that increases tuition over a three-year period (preceding the current tax year) at a rate that is higher than the inflation rate.
Under the bill, the tuition price for purposes of determining whether the 20% excise tax rate applies is the average yearly price charged to all first-time, full-time undergraduate students (including students who receive financial aid).
Further, the bill expands the number of universities and colleges subject to the excise tax by lowering the per student threshold to $250,000.
119 HR 1006 IH: Higher Education Accountability Tax Act U.S. House of Representatives 2025-02-05 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I119th CONGRESS1st SessionH. R. 1006IN THE HOUSE OF REPRESENTATIVESFebruary 5, 2025Mr. Joyce of Ohio (for himself and Ms. Malliotakis) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to modify the excise tax on investment income of private colleges and universities.
1.Short titleThis Act may be cited as the Higher Education Accountability Tax Act.
2.Modification of excise tax on investment income of private colleges and universities (a)Increase in rate of taxSection 4968(a) of the Internal Revenue Code of 1986 is amended by striking 1.4 percent and inserting 10 percent. (b)Additional increase in rate of tax for institutions with increases in net price (1)In generalSection 4968(a) of such Code, as amended by subsection (a), is amended by inserting (20 percent in the case of a net-price-increase institution) after 10 percent. (2)Net-price-increase institutionSection 4968(b) of such Code is amended by redesignating paragraph (2) as paragraph (3) and by inserting after paragraph (1) the following new paragraph: (2)Net-price-increase institutionThe term net-price-increase institution means any applicable educational institution for any taxable year if, during the 3-taxable-year period ending with the taxable year immediately preceding such taxable year, the net price of such institution increased at a rate which exceeds the rate of increase in the Consumer Price Index (as defined in section 1(f)(5)) for such period. For purposes of the preceding sentence, the term net price has the meaning given such term by section 132(a)(3) of the Higher Education Act of 1986 (20 U.S.C. 1015a(a)(3)) except that such price shall be determined by taking into account all first-time, full-time undergraduate students at the institution (in addition to such students who receive student aid).. (c)Expansion of institutions subject to taxSection 4968(b)(1)(D) of such Code is amended by striking $500,000 and inserting $250,000. (d)Effective dateThe amendments made by this section shall apply to taxable years beginning after December 31, 2024.
The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.
| Date | Chamber | All Actions |
|---|---|---|
| 02/05/2025 | Library of Congress | Introduced in House |
| 02/05/2025 | Library of Congress | Introduced in House |
| 02/05/2025 | House floor actions | Referred to the House Committee on Ways and Means. |
| Title Type | Title |
|---|---|
| Display Title | Higher Education Accountability Tax Act |
| Short Title(s) as Introduced | Higher Education Accountability Tax Act |
| Official Title as Introduced | To amend the Internal Revenue Code of 1986 to modify the excise tax on investment income of private colleges and universities. |
There are no amendments to this bill.
* = Original cosponsor
| Committee | Activity |
|---|---|
| House - Ways and Means Committee | 02/05/2025 Referred To |
No related bill information was received for H.R. 1006.
Policy Area: Taxation
No legislative subjects have been assigned yet.
All data on this page comes from our own database (legislation.congress_* tables), synced daily from the GPO govinfo BILLSTATUS and BILLS collections. Formatted after congress.gov; nothing is generated. Member placement is their DW-NOMINATE score (voteview.com, Lewis et al.) - a measurement of roll-call voting behavior, not our judgement. Buckets: Left below −0.50 · Lean Left to −0.25 · Center to +0.25 · Lean Right to +0.50 · Right above +0.50. The bill's Support meter aggregates the people who signed the bill - sponsor and current cosponsors, each counted once - nothing else.