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<p>Update 11/10:</p>
<p>The provision that would impose income tax on tuition remission
does not seem to be in the Senate bill released yesterday.
However, the excise tax on investment income on university
endowments is in there (with the same threshold of 250k/student
that appears in the House bill).</p>
<p>This is goodish news because if it is in only one of the two
bills, there is a better chance of getting rid of it in the
reconciliation process (after each separate bill has passed, they
have to work out differences between the two bills and vote
again).<br>
</p>
<p>In addition, the bill that came out of the House Ways & Means
committee expanded ("improved" in their language) the excise tax
provision, to include not only endowment funds held by the
university but also funds held by related organizations for the
benefit of the university.</p>
<p>WRITE WRITE WRITE TODAY. <br>
</p>
<p>Ellen<br>
</p>
<p class="MsoNormal">Ellen Paul</p>
<p class="MsoNormal">Executive Director</p>
<p class="MsoNormal"><a href="https://urldefense.proofpoint.com/v2/url?u=http-3A__www.nmnh.si.edu_BIRDNET&d=DwMDaQ&c=cjytLXgP8ixuoHflwc-poQ&r=LpYc_Z_iN1KRw0hheb3x6-8MJUMu482qfHowpGYJqwc&m=JoKUziO5dQF4pdg51XCg4o5aIMV2e8rp5qfELr_C_6g&s=vjHp-yF4K4cWLysYK-Nzh8RAtrB3IEA3ZGyQxg072wo&e=">Ornithological
Council</a> <br>
</p>
<p class="MsoNormal">Phone (301) 986 8568</p>
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