Minnesota HF3069 proposes a tax on the asset growth of colleges and universities with over $100 million in assets.

Minnesota HF3069 introduces a tax on the asset growth of colleges and universities with total assets exceeding $100 million. The tax rates vary based on the per-student asset value: 15% for assets between $75,000 and $150,000, 20% for assets between $150,000 and $250,000, and 25% for assets over $250,000. The tax revenue will be deposited into the higher education assets growth account in the special revenue fund, which is used for the state grant program.

Minnesota HF3069 proposes a tax on the asset growth of colleges and universities with over $100 million in assets.

Minnesota HF3069 introduces a tax on the asset growth of colleges and universities with total assets exceeding $100 million. The tax rates vary based on the per-student asset value: 15% for assets between $75,000 and $150,000, 20% for assets between $150,000 and $250,000, and 25% for assets over $250,000. The tax revenue will be deposited into the higher education assets growth account in the special revenue fund, which is used for the state grant program.