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- S.1547
S.1547: Ivory Tower Tax Act of 2021
About This Bill
- Introduced May 11, 2021
- Latest Major Action May 11, 2021
Bill Sponsor
Bill Version
- Introduced in Senate - May 11, 2021
Bill Summary
Ivory Tower Tax Act of 2021 This bill imposes on each specified applicable educational institution an excise tax of 1% of the aggregate fair market value of its assets as of the end of the preceding taxable year. The bill defines specified applicable educational institution as any applicable educational institution, other than a religious institution, whose assets have an aggregate fair market of at least $2.5 billion at the end of the...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| May 11, 2021 |
Read twice and referred to the Committee on Finance.
|
| May 11, 2021 |
Introduced in the Senate by Tom Cotton (R-Ark.) |