summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to the imposition of an annual excise tax upon certain private institutions of higher learning. Revenue.
AI Summary
This bill proposes to impose an annual excise tax of 2.5% on the endowment funds of private institutions of higher education that have an endowment over $1 billion. The revenue collected from this tax would be deposited into the "Educational Opportunity for All Trust Fund," which would be used to subsidize the cost of higher education, early education, and child care for lower-income and middle-class residents of Massachusetts. The fund would be managed by a 7-member board of trustees, including representatives from the Departments of Higher Education and Early Education and Care, as well as members with expertise in higher education, early education and child care, and the child care workforce.
Committee Categories
Budget and Finance
Sponsors (21)
Christine Barber (D)*,
Natalie Higgins (D)*,
Marcos Devers (D),
Mindy Domb (D),
Pat Duffy (D),
Jamie Eldridge (D),
Nika Elugardo (D),
Tricia Farley-Bouvier (D),
Dylan Fernandes (D),
Jessica Giannino (D),
Tami Gouveia (D),
Jim Hawkins (D),
Pat Jehlen (D),
Mary Keefe (D),
Jack Lewis (D),
Jason Lewis (D),
Liz Miranda (D),
Maria Robinson (D),
Lindsay Sabadosa (D),
Dan Sena (D),
Erika Uyterhoeven (D),
Last Action
Accompanied a study order, see H5243 (on 09/22/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H2931 |
| Bill | https://malegislature.gov/Bills/192/H2931.pdf |
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