Search Results for keywords:"large endowments"

Search Results: keywords:"large endowments"

H. R. 7831 — To impose a financial penalty on certain institutions of higher education with high percentages of students who default or make insufficient payments on Federal student loans, and for other purposes.
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March 26, 2024
Status:Introduced in House
Congress:118
Words:2,840
H.R. 7831, titled the "Preventing Financial Exploitation in Higher Education Act," proposes financial penalties for certain large educational institutions with high student loan defaults, delinquencies, or underpayments. If these rates exceed specified levels, the institutions must pay a...
Simple Explanation
The "Preventing Financial Exploitation in Higher Education Act" is like a rule that says if big colleges have too many students who can't pay back their school loans, the colleges have to give some money back. It also says if those colleges make their tuition much more expensive, they have to pay more taxes.
H. R. 7033 — To amend the Internal Revenue Code of 1986 to apply a 6 percent excise tax on large endowments of certain private colleges and universities, and for other purposes.
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January 18, 2024
Status:Introduced in House
Congress:118
Words:564
H.R. 7033, known as the "Woke Endowment Security Tax Act of 2024" or the "WEST Act of 2024," proposes a change to the Internal Revenue Code that would apply a 6 percent excise tax on the large endowments of certain private colleges and universities. This tax would be...
Simple Explanation
H.R. 7033 is like a special rule to make really big and rich private schools pay a little extra money, called a tax, if they have a lot of money saved up like over $12 billion, but only if they don't use that money for their main school activities.

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