US SB936

Imposes a one-time 6% excise tax on the aggregate fair market value of assets held by certain large private college and university endowments, applying to the institution's first taxable year beginning in 2025

Targets non-religious private educational institutions with endowment assets of at least $11.9 billion (excluding assets used directly for exempt purposes)

Also applies to institutions operating colleges on behalf of states through statute or contract with endowment assets of at least $10.5 billion

Amends the Internal Revenue Code of 1986 by adding Section 4969 to Subchapter H of Chapter 42

Effective for taxable years beginning after December 31, 2024