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H.R. 446

U.S. House•In House Committee

Summary

H.R. 446, the Endowment Tax Fairness Act, was introduced in the House on Jan 15, 2025 by Rep. Troy Nehls (R) with 3 co-sponsors. It was referred to Ways And Means, and last saw action on Jan 15, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 446 has 3 co-sponsors.

hb446/introduced-in-house.txt
119 HR 446 IH: Endowment Tax Fairness Act
 U.S. House of Representatives
 2025-01-15
 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.
 I  119th CONGRESS  1st Session  H. R. 446  IN THE HOUSE OF REPRESENTATIVES   January 15, 2025   Mr. Nehls  (for himself and  Ms. Boebert ) 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 increase the rate of the excise tax on investment income of private colleges and universities.
1.
Short title
This Act may be cited as the   Endowment Tax Fairness Act  .
2.
Excise tax based 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  21 percent .
(b)
Effective date
The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
(c)
Federal debt reduction
The revenue derived from the amendment made by this section shall be deposited in the general fund of the Treasury and shall be used to reduce the national deficit, to the extent thereof, and thereafter to reduce the national debt.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-15
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Jan 15, 2025

hb446/introduced-in-house.md

Shown Here:
Introduced in House (01/15/2025)

Endowment Tax Fairness Act

This bill increases the excise tax on the net investment income of certain private university and college endowments.

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 endowments that are at least $500,000 per student pay an excise tax in the amount of 1.4% on the net investment income from such endowments.

The bill increases the amount of the excise tax to 21% of the net investment income from such university and college endowments.

Further, the bill provides that amounts collected from the increase to the excise tax on the net investment income from such university and college endowments are (1) to be deposited into the general fund of the Treasury; and (2) used to reduce the national deficit and, subsequently, the national debt.

Sponsors

Rep. Troy Nehls (R) sponsors H.R. 446, and 3 members have co-sponsored it, 1 of them from the day it was introduced.

Committees

H.R. 446 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Jan 15, 2025 · 1,160 Bills

Actions

H.R. 446 has taken 2 actions since Jan 15, 2025.

ChamberAction
Jan 15, 2025
House
Introduced in House
Jan 15, 2025
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 446 has not gone to a roll call.

Titles

H.R. 446 goes by 3 titles, 1 of them short titles.

  • Endowment Tax Fairness Act — Display Title
  • To amend the Internal Revenue Code of 1986 to increase the rate of the excise tax on investment income of private colleges and universities. — Official Title as Introduced
  • Endowment Tax Fairness Act — Short Title(s) as Introduced

Lobbying

4 clients hired 4 firms and 10 registered lobbyists who named H.R. 446 in 15 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Education, Taxation/Internal Revenue Code, Budget/Appropriations, Immigration, Medical/Disease Research/Clinical Labs, Science/Technology.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION—District of Columbia16—
SOUTHERN METHODIST UNIVERSITYResearch universityTexas14$80K
NATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIES—District of Columbia14—
STANFORD UNIVERSITY—California11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION16—
NATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIES14—
SCHAERR JAFFE LLP14$80K
STANFORD UNIVERSITY11—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
BRIAN FLAHAVEN116
JEFFREY MUNK114
JODY FEDER114
JUSTIN MONK114
KARIN JOHNS114
STEPHANIE GIESECKE114
SARAH FLANAGAN113
MARY HOSMAN111
MEGAN ARLETH111
RYAN ADESNIK111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
NATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIESNATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIES2025 second_quarter$200K2nd Quarter - Amendme…
NATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIESNATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIES2025 second_quarter$200K2nd Quarter - Amendme…
NATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIESNATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIES2025 second_quarter$200K2nd Quarter - Report
NATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIESNATIONAL ASSN OF INDEPENDENT COLLEGES & UNIVERSITIES2025 first_quarter$190K1st Quarter - Report
STANFORD UNIVERSITYSTANFORD UNIVERSITY2025 first_quarter$150K1st Quarter - Report
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATIONCOUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION2025 second_quarter$50K2nd Quarter - Report
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATIONCOUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION2026 second_quarter$40K2nd Quarter - Report
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATIONCOUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION2026 first_quarter$40K1st Quarter - Report
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATIONCOUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION2025 fourth_quarter$40K4th Quarter - Report
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATIONCOUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION2025 third_quarter$40K3rd Quarter - Report
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATIONCOUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION2025 first_quarter$30K1st Quarter - Report
SOUTHERN METHODIST UNIVERSITYSCHAERR JAFFE LLP2025 fourth_quarter$20K4th Quarter - Report
SOUTHERN METHODIST UNIVERSITYSCHAERR JAFFE LLP2025 third_quarter$20K3rd Quarter - Report
SOUTHERN METHODIST UNIVERSITYSCHAERR JAFFE LLP2025 second_quarter$20K2nd Quarter - Report
SOUTHERN METHODIST UNIVERSITYSCHAERR JAFFE LLP2025 first_quarter$20K1st Quarter - Report

Classification

The Congressional Research Service files H.R. 446 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 446’s is Taxation.

hr446/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 446, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 8 (Wednesday, January 15, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. NEHLS:H.R. 446.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18 of the U.S. Constitution[Page H187]

Source: congress.gov · legiscan.com