[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4907 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 4907

 To amend the Internal Revenue Code of 1986 to increase the excise tax 
 on investment income of private colleges and universities and provide 
           greater funding to career and technical education.


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                   IN THE SENATE OF THE UNITED STATES

                             June 24, 2026

  Mrs. Moody introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the excise tax 
 on investment income of private colleges and universities and provide 
           greater funding to career and technical education.

    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 ``Technical Reinvestment and 
Apprenticeship Development through Endowment Sharing Act'' or the 
``TRADES Act''.

SEC. 2. SUPPORTING CAREER AND TECHNICAL EDUCATION FOR AMERICANS.

    (a) In General.--Section 4968(b)(3) of the Internal Revenue Code of 
1986 is amended by striking ``8 percent'' and inserting ``15 percent''.
    (b) Funding for Career and Technical Education.--In addition to any 
other amounts made available to provide assistance to States under 
title I of the Carl D. Perkins Career and Technical Education Act of 
2006 (20 U.S.C. 2321 et seq.), the Secretary of the Treasury (or the 
Secretary's delegate) shall, on an annual basis, transfer to such 
program, from amounts in the general fund of the Treasury of the United 
States, an amount determined by the Secretary of the Treasury (or the 
Secretary's delegate) to be equal to the increase in revenue for the 
preceding 12-month period by reason of the amendments made by 
subsection (a).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date which is 12 months 
after the date of enactment of this Act.
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