H.R. 1128

Summary

H.R. 1128, the Endowment Accountability Act, was introduced in the House on Feb 7, 2025 by Rep. Michael Lawler (R). It was referred to Ways And Means, and last saw action on Feb 7, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 1128 has no co-sponsors and has not gone to a roll call.

119 HR 1128 IH: Endowment Accountability Act
 U.S. House of Representatives
 2025-02-07
 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. 1128  IN THE HOUSE OF REPRESENTATIVES   February 7, 2025   Mr. Lawler  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 based on investment income of private colleges and universities and to broaden the definition of applicable educational institution by lowering the threshold with respect to aggregate fair market value per student, and for other purposes.
1.
Short title
This Act may be cited as the   Endowment Accountability 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  10 percent .
(b)
Lowering asset per student threshold for definition of applicable educational institution
Section 4968(b)(1)(D) of such Code is amended by striking  $500,000  and inserting  $200,000 .
(c)
Effective date
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

Tracker

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

CRS Summary

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

Sponsors

Rep. Michael Lawler (R) sponsors H.R. 1128 alone.

Michael Lawler

Rep. · R–NY-17 · Sponsor

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Committees

H.R. 1128 went before 1 committee: Ways and Means.

Ways and Means

Ways and Means

Referred To · Feb 7, 2025 · 1,160 Bills

Actions

H.R. 1128 has taken 2 actions since Feb 7, 2025.

Votes

H.R. 1128 has not gone to a roll call.

Titles

H.R. 1128 goes by 3 titles, 1 of them short titles.

• Endowment Accountability Act — Display Title
• Endowment Accountability Act — Short Title(s) as Introduced
• To amend the Internal Revenue Code of 1986 to increase the rate of the excise tax based on investment income of private colleges and universities and to broaden the definition of applicable educational institution by lowering the threshold with respect to aggregate fair market value per student, and for other purposes. — Official Title as Introduced

Lobbying

5 clients hired 5 firms and 15 registered lobbyists who named H.R. 1128 in 21 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, Agriculture, Defense.

Clients

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

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill.

Filings

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

Classification

The Congressional Research Service files H.R. 1128 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 1128’s is Taxation.

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 1128, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 26 (Friday, February 7, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LAWLER:H.R. 1128.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18 of the U.S. Constitution[Page H585]

Source: congress.gov · legiscan.com