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HF 3069

Tax on certain growth of certain assets of colleges and universities established, and special revenue fund account established.

2025-2026 Regular Session Introduced by Jess Hanson

HF 3069 would tax the asset growth of Minnesota colleges and universities and establish a dedicated Special Revenue Fund to receive and allocate the proceeds.

Introduction and first reading, referred to Higher Education Finance and Policy
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Bill Summary · HF 3069

Summary: HF 3069 (2025) — Tax on Growth of Certain Assets of Colleges and Universities; Special Revenue Fund Account Established

Overview

HF 3069 is a Minnesota bill introduced on April 2, 2025, and referred to the House Higher Education Finance and Policy committee. The bill’s title indicates it would impose a tax based on the growth of certain assets held by colleges and universities established in Minnesota and would establish a dedicated Special Revenue Fund account to receive and presumably allocate the resulting revenue. A companion bill exists in the Senate as SF 3194.

What the bill would do (as suggested by the title)

  • Impose a tax tied to the growth of assets held by Minnesota colleges and universities. The exact scope (which assets are taxed, how “growth” is defined, and what exclusions apply) is not provided in the summary available.
  • Create a dedicated Special Revenue Fund account, likely within the state treasury, to receive the tax revenue and to specify how those funds are to be used (e.g., for higher education programs, financial aid, or other state needs). The specific allocation rules and uses are not yet disclosed in the summary.

Who is affected

  • Primary beneficiaries/subjects: Colleges and universities established in Minnesota (the specific institutions to be covered and any exclusions (public vs. private, religious affiliations, for-profit status, out-of-state assets, etc.) are not defined in the provided text).
  • Potentially affected stakeholders include campus administrations, endowment managers, faculty and students, and state higher education budgeting processes.

Key provisions and changes (availability limited)

  • Tax component: Growth in certain assets of eligible colleges/universities would be subject to a tax. Exact calculation method (base, rate, exemptions, and credits) is not specified in the available information.
  • Revenue allocation: Creation of a Special Revenue Fund account to receive the tax proceeds, with subsequent spending guidelines to be determined by the bill (or by related statute/directives in the bill’s text).
  • Administrative aspects: Details on enforcement, reporting, and collection processes are not provided in the current summary.

Procedural and timeline aspects

  • Status: Introduction and first reading; referred to the House Higher Education Finance and Policy committee.
  • Introduced: April 2, 2025.
  • Related legislation: SF 3194 is the companion bill in the Senate.

Potential impact and policy considerations (high-level)

  • Fiscal: The bill could generate new state revenue earmarked for higher education or related priorities, depending on how the Special Revenue Fund is appropriated.
  • Equity and scope: The policy would hinge on clearly defined terms (which assets, how growth is measured, any exemptions) to avoid ambiguity and unintended burdens on institutions.
  • Administrative burden: Institutions may face new compliance and reporting requirements.
  • Interplay with existing funding: Could influence how colleges and universities manage endowments and asset growth in relation to state funding.

Next steps and what to look for

  • The full text of HF 3069 to confirm definitions (assets, “growth,” exemptions), tax rate, and calculation method.
  • Specifics on the Special Revenue Fund: intended uses, allocation rules, and sunset or renewal provisions.
  • Details in committee hearings and fiscal notes.
  • Confirmation of scope by institution type (public vs. private; all Minnesota-established colleges/universities).

Quick takeaway

HF 3069 proposes a tax on asset growth at Minnesota colleges and universities and establishes a dedicated revenue fund. At this stage, the bill’s precise definitions, rate, and uses remain to be disclosed as it advances through the legislative process. A companion Senate bill (SF 3194) exists, which will be important to compare for a fuller understanding.

Compiled from official sources — confirm details with the bill’s official record.

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