HR 422

This bill, titled the ‘No Subsidies for Wealthy Universities Act,’ aims to limit the amount of indirect costs that universities with large endowments can receive in federal research funding. It requires the National Center for Education Statistics to create lists of universities with endowments exceeding $2 billion and $5 billion, which will then be shared with the Office of Management and Budget and the public. The bill establishes specific indirect cost rate limits: no indirect costs for universities with endowments over $5 billion, a maximum of 8% for those between $2 billion and $5 billion, and 15% for all other institutions.