Imposes an annual excise tax on private higher education institutions with endowments over $1 billion to fund educational opportunities.

The bill proposes an annual excise tax of 2.5% on private higher education institutions with endowments exceeding $1 billion. The collected funds will be deposited into the Educational Opportunity for All Trust Fund, which will subsidize higher education, early education, and child care for lower-income and middle-class residents. The fund will be managed by a board appointed by various state officials and representatives.

Imposes an annual excise tax on private higher education institutions with endowments over $1 billion to fund educational opportunities.

The bill proposes an annual excise tax of 2.5% on private higher education institutions with endowments exceeding $1 billion. The collected funds will be deposited into the Educational Opportunity for All Trust Fund, which will subsidize higher education, early education, and child care for lower-income and middle-class residents. The fund will be managed by a board appointed by various state officials and representatives.