,i  #aahth ,,congress  #b;d ,session    
,h4 ,r4 #icca  ,,in ,,the ,,house ,,of  
,,representatives  ,august #i1 #bjbd,mr4
 ,joyce of ,ohio 7for himself and ,ms4  
,malliotakis7 introduced the following  
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to modify the excise tax
 on investment income of private        
colleges and universities4  #a4 ,short  
title ,this ,act may be cited as the    
,higher ,education ,accountability ,tax 
,act4  #b4 ,modification of excise tax  
on investment income of private colleges
 and universities  7a7 ,increase in rate
 of tax ,section #difh7;a7 of the       
,internal ,revenue ,code of #aihf is    
amended by striking #a4d percent and    
inserting #aj percent4  7b7 ,additional 
increase in rate of tax for institutions
 with increases in net price  7#a7 ,in  
general ,section #difh7;a7 of such      
,code1 as amended by subsection 7a71 is 
amended by inserting 7#bj percent in the

 case of a net-price-increase           
institution7 after #aj percent4  7#b7   
,net-price-increase institution ,section
 #difh7;b7 of such ,code is amended by  
redesignating paragraph 7#b7 as         
paragraph 7#c7 and by inserting after   
paragraph 7#a7 the following new        
paragraph3  7#b7 ,net-price-increase    
institution ,the term net-price-increase
 institution means any applicable       
educational institution for any taxable 
year if1 during the #c-taxable-year     
period ending with the taxable year     
immediately preceding such taxable year1
 the net price of such institution      
increased at a rate which exceeds the   
rate of increase in the ,consumer ,price
 ,index 7as defined in section          
#a7;f77#e77 for such period4 ,for       
purposes of the preceding sentence1 the 
term net price has the meaning given    
such term by section #acb7;a77#c7 of the
 ,higher ,education ,act of #aihf 7#bj  
,u4,s4,c4 #ajae;a7a77#c77 except that   
such price shall be determined by taking

 into account all first-time1 full-time 
undergraduate students at the           
institution 7in addition to such        
students who receive student aid74  4   
7c7 ,expansion of institutions subject  
to tax ,section #difh7;b77#a77;,d7 of   
such ,code is amended by striking       
#ejj1jjj and inserting #bej1jjj4  7d7   
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjbd4