{"bill":{"id":"119-hr-446","congress":119,"type":"HR","number":446,"title":"Endowment Tax Fairness Act","originChamber":"House","introducedDate":"2025-01-15","sponsors":[{"bioguideId":"N000026","fullName":"Rep. Nehls, Troy E. [R-TX-22]","party":"R","state":"TX","district":22}],"cosponsorsCount":3,"latestAction":{"actionDate":"2025-01-15","text":"Referred to the House Committee on Ways and Means."},"policyArea":"Taxation","subjects":[],"actions":[{"date":"2025-01-15","text":"Referred to the House Committee on Ways and Means.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-01-15","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-01-15","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Endowment Tax Fairness Act</strong></p><p>This bill increases the excise tax on the net investment income of certain private university and college endowments.&nbsp;</p><p>Under current law, certain private&nbsp;universities and colleges with 500 or more tuition-paying students (of which more than 50%&nbsp;are located in the United States) and endowments that are at least $500,000 per student pay an excise tax in the amount of 1.4% on the net investment income from such endowments.</p><p>The bill increases the amount of the excise tax to 21% of the net investment income from such university and college endowments.&nbsp;</p><p>Further, the bill provides that amounts collected from the increase to the&nbsp;excise tax on the net investment income from such university and college endowments are (1) to be deposited into the general fund of the&nbsp;Treasury; and (2) used to reduce the national deficit and, subsequently, the national debt.&nbsp;</p>","updateDate":"2026-09-19T23:07:34Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":331,"ts":"2026-10-13T15:42:16.504Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"https://simplefunctions.dev/api/public/query-gov?q=Endowment%20Tax%20Fairness%20Act"}]}}