Amendment #1146 to H4600

Higher Learning Passive Income Payment

Mr. Markey of Dartmouth moves to amend the bill by adding the following section:

“SECTION XXXX. Any private institution of higher learning with an endowment fund with over $1,000,000,000 in aggregate funds as of July 1, 2024, shall be subject to a payment in lieu of taxes valued at 1% of all revenue generated by the invested funds of the institution of learning.

This act shall sunset on June 30, 2025.”