H.R. 8913 proposes changes to the Internal Revenue Code of 1986 to exclude certain students from being counted when determining if private colleges and universities should pay an excise tax on their investment income. Specifically, it states that students who do not meet certain eligibility...
Simple Explanation
This bill wants to change how the government decides taxes for some private colleges, so they don't have to count certain students, like those not eligible for some aid, when figuring out if they owe extra taxes on their earnings. Plus, these colleges will need to tell the government more details about the number of students they count each year.