Protecting American Students Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1905 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1905 To amend the Internal Revenue Code of 1986 to exclude certain students from the calculation to determine if certain private colleges and universities are subject to the excise tax on net investment income, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 6, 2025 Mr. Buchanan (for himself, Mr. Smith of Nebraska, Mr. Kelly of Pennsylvania, Mrs. Miller of West Virginia, Mr. Murphy, Ms. Tenney, and Ms. Van Duyne) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to exclude certain students from the calculation to determine if certain private colleges and universities are subject to the excise tax on net investment income, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Protecting American Students Act''. SEC. 2. CERTAIN STUDENTS NOT TAKEN INTO ACCOUNT FOR PURPOSES OF CALCULATION TO DETERMINE IF CERTAIN PRIVATE COLLEGES AND UNIVERSITIES ARE SUBJECT TO EXCISE TAX ON NET INVESTMENT INCOME. (a) In General.--Section 4968(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(3) Certain students not taken into account in determining endowment threshold.--For purposes of paragraph (1)(D), a student shall not be taken into account with respect to an eligible educational institution unless such student meets the student eligibility requirements under section 484(a)(5) of the Higher Education Act of 1965 (20 U.S.C. 1091(a)(5)).''. (b) Effective Date.--The amendment made by this section shall ap