News

Following the repeal of the tax on employer-provided transportation benefits, institutions and organizations may seek refunds by filing amended unrelated business income tax returns, according to the IRS.

An amendment to the FY20 budget package repealed the detrimental parking tax on all nonprofit organizations, among other improvements for colleges, universities, and students. The budget bill itself allocated an additional $1.3 billion to the Department of Education.

In this edition: Sen. Lamar Alexander shares Higher Education Act priorities, the National Labor Relations Board moves to prevent students from unionizing, NACUBO signs an amicus brief on DACA, and more.

NACUBO’s recommendations to policymakers, endorsed by 10 other higher education associations, highlight areas of concern for the sector and urge final rules that reflect an understanding of how colleges and universities serve students and operate. A coalition of colleges and universities also weighed in.

After much negotiation, Congressional leaders settled on a bipartisan budget bill that President Trump has signed off on. The deal opens a possibility of repeal of unpopular portions of the Tax Cuts and Jobs Act, including the parking tax and the UBIT basketing requirement.

New videos co-produced by NACUBO recommend reinstatement of advance refunding and improvements for bank-qualified bond terms. Bipartisan legislation recently introduced in the House reflects NACUBO’s recommendations for the latter.

The Department of Education seeks to align grants with Trump administration goals, the higher education community supports legislation to combat student food insecurity, and more.

The Department of Education changes gainful employment rules, NACUBO advocates for “kiddie tax” fix, Dreamers, and 179D, and more.

The guidance explains how certain colleges and universities should apply the excise tax on endowments enacted as part of the Tax Cuts and Jobs Act.

The taxation of parking and transportation benefits nonprofit employers provide has garnered significant attention on Capitol Hill recently amid growing support for repeal of the tax. NACUBO has launched a new interactive advocacy campaign that urges repeal.