What is the official ID of this bill?

The official print number for this legislation is S 1547.

When did the legislative process begin?

The process officially started on 2021-05-11.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/s1547/BILLS-117s1547is.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

Who is the primary sponsor?

The primary sponsor is Sen. Cotton, Tom [R-AR].

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Analysis and Potential Impact of S 1547

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Tax on Large University Endowments and Spending Requirement

Q: What are the main provisions?

Key points include: Imposes a 1% tax on endowments of private colleges and universities valued at $2.5 billion or more. Requires these institutions to distribute at least 5% of their large endowments annually to avoid additional penalties. Revenue from the tax will fund apprenticeship programs, supporting workforce development.

This act introduces a new tax for large private universities with substantial endowments, aiming to encourage these institutions to spend more of their resources on educational purposes. Funds from this tax are earmarked for apprenticeship programs, potentially creating new opportunities for job seekers.

Key points

Imposes a 1% tax on endowments of private colleges and universities valued at $2.5 billion or more.

Requires these institutions to distribute at least 5% of their large endowments annually to avoid additional penalties.

Revenue from the tax will fund apprenticeship programs, supporting workforce development.

article Official text account_balance Process page notifications_active Track this Bill

gavel

Status:

Expired

Record your position for audit.

Why does your vote on bills matter?

It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.

Additional Information

Ivory Tower Tax Act of 2021

Print number: S 1547

Sponsor: Sen. Cotton, Tom [R-AR]

Process start date: 2021-05-11

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

AI work logs for this document launch

Tax on Large University Endowments and Spending Requirement

Key Questions about Tax on Large University Endowments and Spending Requirement