A bill to amend the Internal Revenue Code of 1986 to apply a 1 percent excise tax on large endowments of certain private colleges and universities, to require that such institutions distribute at least 5 percent of large endowments in each taxable year, and for other purposes.
The bill’s titles are written by its sponsor.
Sponsor and status
Sponsor. Junior Senator for Arkansas. Republican.
Last Updated: May 11, 2021
Length: 6 pages
117th Congress (2021–2023)
This bill was introduced on May 11, 2021, in a previous session of Congress, but it did not receive a vote.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
May 11, 2021
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
S. 1547 (117th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number S. 1547. This is the one from the 117th Congress.
This bill was introduced in the 117th Congress, which met from Jan 3, 2021 to Jan 3, 2023. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
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GovTrack.us. (2023). S. 1547 — 117th Congress: Ivory Tower Tax Act of 2021. Retrieved from https://www.govtrack.us/congress/bills/117/s1547
“S. 1547 — 117th Congress: Ivory Tower Tax Act of 2021.” www.GovTrack.us. 2021. September 30, 2023 <https://www.govtrack.us/congress/bills/117/s1547>
Ivory Tower Tax Act of 2021, S. 1547, 117th Cong..
|title=S. 1547 (117th)
|accessdate=September 30, 2023
|author=117th Congress (2021)
|date=May 11, 2021
|quote=Ivory Tower Tax Act of 2021
Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.