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Public Law 119-21 (2025 budget reconciliation act)

The 2025 law that rewrote the endowment tax into three rates.

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Dates
4 Jul 2025

Approved on 4 July 2025. Its section 70415 applies to tax years beginning after 31 December 2025.

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  • Endowment excise tax Primary record 1

    Section 70415 replaced the flat 1.4 percent with 1.4, 4 and 8 percent tiers, by endowment per student.

Timeline 2 dates
  1. 4 Jul 2025 Public Law 119-21 (2025 budget reconciliation act)
  2. 4 Jul 2025 U.S. Congress signed into law Public Law 119-21 (2025 budget reconciliation act)
Proof 1 source
  1. Public Law 119-21 (H.R. 1), the 2025 budget reconciliation act, section 70415, U.S. Government Publishing Office, 4 Jul 2025. Primary record
    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
    8 percent in the case of an institution with a student adjusted endowment in excess of $2,000,000
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