A 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.
Woke Endowment Security Tax Act of 2023 or the WEST Act of 2023
This bill imposes a 6% excise tax on certain private educational instutions with endowments of at least $12.2 billion and institutions with endowments of at least $9 billion that also operate a state contract college.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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