Relating to a tax imposed on university endowments; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.
Summary
Imposes excise tax on net investment income of public universities. Directs revenues to Fund for Student Success. Applies to tax years beginning on or after January 1, 2026. Takes effect on 91st day following adjournment sine die.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 25, 2025
Last action Jun 28, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
1
Committee
2
Jun 28, 2025
Upper · Passed
In committee upon adjournment.
upper
Feb 25, 2025
Committee
Referred to Finance and Revenue.
upper
Feb 25, 2025
Introduced
Introduction and first reading. Referred to President's desk.
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Dick Anderson
RRepublican
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