US SB2045

Imposes a 50% excise tax on private colleges and universities with endowments exceeding $1 billion when they acquire investments in entities on federal security lists (Commerce Department's Entity List, Military End User List, Unverified List, or FCC Covered List)

Imposes a 100% tax on net income and gains from "listed investments" held for at least one year in these designated foreign entities

Requires the Treasury Secretary to establish and maintain a consolidated list of persons appearing on the specified federal security lists within 60 days of enactment

Applies to investments acquired through pooled funds, ETFs, and regulated investment companies, with a certification process for funds to demonstrate they hold no listed investments

Takes effect for taxable years ending after the first calendar year following enactment or one year after Treasury establishes the listed persons list, whichever comes first