Bill > S836

This bill aims to support educational opportunity for all by establishing the Educational Opportunity for All Trust Fund. The key provisions are: 1. Imposing an annual 2.5% excise tax on the endowment funds of private institutions of higher education with endowments over $1 billion. The collected funds will be deposited into the Educational Opportunity for All Trust Fund. 2. Creating the Educational Opportunity for All Trust Fund, which will be administered by the Executive Office of Education and a Board of Trustees. The fund will be used exclusively to subsidize the cost of higher education, early education, and child care for lower-income and middle-class residents of Massachusetts. 3. Establishing the Educational Opportunity for All Trust Fund Board of Trustees, which will consist of 7 members, including officials from the Departments of Higher Education and Early Education & Care, as well as other trustees with relevant expertise in higher education, early education, and labor representation.

Education

https://malegislature.gov/Bills/192/S836