CLARIFICATION REGARDING EXCISE TAX BASED ON INVESTMENT INCOME OF PRIVATE COLLEGES AND UNIVERSITIES.

SEC. 41109. CLARIFICATION REGARDING EXCISE TAX BASED ON INVESTMENT INCOME OF PRIVATE COLLEGES AND UNIVERSITIES. (a) [26 U.S.C. 4968] In General Subsection (b)(1) of section 4968, as added by section 13701(a) of Public Law 115–97, is amended— (1) by inserting “tuition-paying” after “500” in subparagraph (A), and (2) by inserting “tuition-paying” after “50 percent of the” in subparagraph (B). (b) [26 U.S.C. 4968 note] Effective Date The amendments made by this section shall apply to taxable years beginning after December 31, 2017.