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H.R. 1006

U.S. House•In House Committee

Summary

H.R. 1006, the Higher Education Accountability Tax Act, was introduced in the House on Feb 5, 2025 by Rep. David Joyce (R) with 1 co-sponsor. It was referred to Ways And Means, and last saw action on Feb 5, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 1006 has 1 co-sponsor.

hb1006/introduced-in-house.txt
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.
 I  119th CONGRESS  1st Session  H. R. 1006  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.
1.
Short title
This 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 tax
 Section 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 general
Section 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 institution
Section 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 institution
The 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 tax
Section 4968(b)(1)(D) of such Code is amended by striking  $500,000  and inserting  $250,000 .
(d)
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.

Tracker

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

  1. Introduced2025-02-05
  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 Feb 5, 2025

hb1006/introduced-in-house.md

Shown Here:
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.

Sponsors

Rep. David Joyce (R) sponsors H.R. 1006, and 1 member has co-sponsored it from the day it was introduced.

Committees

H.R. 1006 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Feb 5, 2025 · 1,160 Bills

Actions

H.R. 1006 has taken 2 actions since Feb 5, 2025.

ChamberAction
Feb 5, 2025
House
Introduced in House
Feb 5, 2025
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 1006 has not gone to a roll call.

Titles

H.R. 1006 goes by 3 titles, 1 of them short titles.

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

Lobbying

4 clients hired 4 firms and 14 registered lobbyists who named H.R. 1006 in 14 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, Science/Technology, Defense, Energy/Nuclear, Immigration, Medical/Disease Research/Clinical Labs.

Clients

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

ClientBusinessStateFirmsFilingsReported
CORNELL UNIVERSITY—New York16—
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION—District of Columbia16—
NUCLEAR ENERGY INSTITUTE, INCNo change in address. Just a lobbyist updateDistrict of Columbia11—
STANFORD UNIVERSITY—California11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
CORNELL UNIVERSITY16—
COUNCIL FOR ADVANCEMENT AND SUPPORT OF EDUCATION16—
NUCLEAR ENERGY INSTITUTE, INC.11—
STANFORD UNIVERSITY11—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
BRIAN FLAHAVEN116
DIANNE MILLER116
ALESSIA LEAL115
DAMIEN SHARP115
DANIEL PARKER115
ANDREW NEILL111
CAROL BERRIGAN111
KRISTEN ADAMS111
MARY HOSMAN111
MEGAN ARLETH111
MELODY RODRIGUEZ111
MICHAEL FLANNIGAN111
ROBERT POWERS111
RYAN ADESNIK111

Filings

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

ClientRegistrantPeriodReportedDocument
NUCLEAR ENERGY INSTITUTE, INCNUCLEAR ENERGY INSTITUTE, INC.2025 first_quarter$450K1st Quarter - Report
CORNELL UNIVERSITYCORNELL UNIVERSITY2025 second_quarter$444K2nd Quarter - Report
CORNELL UNIVERSITYCORNELL UNIVERSITY2026 second_quarter$360K2nd Quarter - Report
CORNELL UNIVERSITYCORNELL UNIVERSITY2025 third_quarter$240K3rd Quarter - Report
CORNELL UNIVERSITYCORNELL UNIVERSITY2025 first_quarter$230K1st Quarter - Report
CORNELL UNIVERSITYCORNELL UNIVERSITY2026 first_quarter$180K1st Quarter - Report
CORNELL UNIVERSITYCORNELL UNIVERSITY2025 fourth_quarter$180K4th 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

Classification

The Congressional Research Service files H.R. 1006 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 1006’s is Taxation.

hr1006/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. 1006, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 24 (Wednesday, February 5, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. JOYCE of Ohio:H.R. 1006.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18[Page H505]

Source: congress.gov · legiscan.com