Establishes an annual excise tax on private institutions of higher learning with endowment funds over $1 billion to support educational opportunities.

This bill creates an annual excise tax of 2.5% on endowment funds of private institutions of higher learning with assets over $1 billion. The revenue generated will be deposited into the Educational Opportunity for All Trust Fund, which will be used to subsidize higher education, early education, and child care for lower-income and middle-class residents of Massachusetts. The fund will be managed by a board of trustees, including representatives from relevant state departments and experts in education and child care.

Establishes an annual excise tax on private institutions of higher learning with endowment funds over $1 billion to support educational opportunities.

This bill creates an annual excise tax of 2.5% on endowment funds of private institutions of higher learning with assets over $1 billion. The revenue generated will be deposited into the Educational Opportunity for All Trust Fund, which will be used to subsidize higher education, early education, and child care for lower-income and middle-class residents of Massachusetts. The fund will be managed by a board of trustees, including representatives from relevant state departments and experts in education and child care.