119 S4907 IS: Technical Reinvestment and Apprenticeship Development through Endowment Sharing Act U.S. Senate 2026-06-24 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS2d SessionS. 4907IN THE SENATE OF THE UNITED STATESJune 24, 2026Mrs. Moody introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo 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.

1.

Short title

This Act may be cited as the Technical Reinvestment and Apprenticeship Development through Endowment Sharing Act or the TRADES Act.

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.