118th Congress · SENATE BILLBILL

S. 3465 — WEST Act of 2023

“A bill 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 Dec 12, 2023

Last action Dec 12, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 12, 2023

Step 2

Referred

Dec 12, 2023

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill imposes a 6% excise tax on certain private educational instutions 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 Senate

Timeline · 2 actions

Dec 12, 2023

Introduced in Senate

Dec 12, 2023

Read twice and referred to the Committee on Finance.