Minnesota SF3194 establishes a tax on the asset growth of certain colleges and universities, creating a special revenue fund account for the.

Minnesota SF3194 introduces a tax on the asset growth of certain colleges and universities. This tax applies to institutions with total assets exceeding $100 million and at least 500 tuition-paying students. The tax rates vary based on the per-student asset value, ranging from 15% to 25%. The collected tax revenues, including penalties and interest, are deposited into the higher education assets growth account in the special revenue fund. This account is used for the state grant program, with earnings credited back to the account.

Minnesota SF3194 establishes a tax on the asset growth of certain colleges and universities, creating a special revenue fund account for the.

Minnesota SF3194 introduces a tax on the asset growth of certain colleges and universities. This tax applies to institutions with total assets exceeding $100 million and at least 500 tuition-paying students. The tax rates vary based on the per-student asset value, ranging from 15% to 25%. The collected tax revenues, including penalties and interest, are deposited into the higher education assets growth account in the special revenue fund. This account is used for the state grant program, with earnings credited back to the account.