Bill

Bill > S836


MA S836

To support educational opportunity for all


summary

Introduced
03/29/2021
In Committee
03/29/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation to support educational opportunity for all. Higher Education.

AI Summary

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.

Committee Categories

Education

Sponsors (5)

Last Action

Accompanied a study order, see S2714 (on 02/24/2022)

bill text


bill summary

Loading...

bill summary

Loading...

bill summary

Loading...