The proposed regulations lay out which institutions will have to pay the new levy and how their assets and income will be taxed. Income affected colleges would be taxed on includes that from interest, dividends and rentals.
The Internal Revenue Service estimates it will cost roughly 40 institutions about $123 million annually. However, higher ed leaders say some of the regulation’s details aren’t yet clear.
“They’re enormously complicated,” Steven Bloom, director of government and public affairs at the American Council on Education, told Education Dive.