The bill wants private colleges and universities to pay more money from the income they earn by investing, with higher taxes if they raise their student costs too much. It also means more schools would have to pay this tax if they have a certain amount of money saved for each student.

The bill wants some big colleges that have lots of money, but aren't religious, to pay more taxes, raising the amount from a little bit (1.4%) to a big chunk (35%) of their extra money made from investments. This change would affect only those colleges with a LOT of extra money, over $10 billion, and is meant to start happening after the end of 2023.

H.R. 1128 is a plan to make some colleges and universities pay more taxes on the money they make from investments, jumping from 1.4% to 10%, and to include more schools by changing the rules so that if a school has less money per student than before, it still pays these taxes.