Imposes a capital gains tax on endowment funds of higher education institutions valued over $500,000 per student, dedicating revenue to reducing Paid.
The bill establishes a capital gains tax on endowment funds of institutions of higher education valued at more than $500,000 per student. The revenue generated from this tax will be dedicated to reducing the contributions required from participants in the Paid Family and Medical Leave Insurance Program. This measure aims to alleviate the financial burden on program participants by utilizing the tax revenue from high-value endowment funds.
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