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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This 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., changes federal law or congressional policy affecting schools, students, and education providers. The main policy domain is Education.
Who Benefits and How
schools, students, and education providers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, schools, students, and education providers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HF5638C3FA64847148EDC80D35BD4BF63: 1. Short title This Act may be cited as the Woke Endowment Security Tax Act of 2024 or the WEST Act of 2024.
- Section HEFC4BEF25A0943BAB2E8E28A160BEB04: 2. Excise tax on certain large private college and university endowments Subchapter H of chapter 42 of the Internal Revenue Code of 1986 is amended by adding...
- Section HB0D813B6124248819B4F72F5D3672DB2: 4969. Excise tax on certain large private college and university endowments There is hereby imposed on each specified applicable educational institution for...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This 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., changes federal law or congressional policy affecting schools, students, and education providers.
Key Policy Areas
Education
Primary Purpose
This 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., changes federal law or congressional policy affecting schools, students, and education providers.
Policy Domains
Whole bill
Identified Gains
- schools, students, and education providers
Identified Costs
- federal implementing agencies
- schools, students, and education providers
Sponsors
Legislative Progress
IntroducedMr. Calvert introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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