118th Congress · HOUSE BILLBILL

H.R. 7033WEST Act of 2024

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.

Taxation
Introduced Jan 18, 2024
Last action Jan 18, 2024
Pipeline · Bill → Law
Step 1
Introduced
Jan 18, 2024
Step 2
Referred
Jan 18, 2024
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill imposes a 6% excise tax on certain private educational institutions with endowments of at least $12.2 billion and institutions with endowments of at least $9 billion that also operate a state contract college.   

Provisions · 2 sectionsIntroduced in House
Timeline · 2 actions
Jan 18, 2024
Introduced in House
Jan 18, 2024
Referred to the House Committee on Ways and Means.