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Connecticut Drops Proposal to Tax Yale's Endowment Earnings

  • Lawmakers move on bill to tax commercial property at colleges
  • Yale's fund is $25.6 billion, second biggest after Harvard
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The Connecticut legislature dropped a proposal to tax Yale University’s $25.6 billion endowment as a bill to tax its property moved forward.

While the endowment bill wasn’t raised for a vote, the state finance, revenue and bonding committee Thursday voted 28 to 22 to impose a tax on certain colleges’s commercial property that generate at least $6,000 in annual revenue. The endowment proposal, aimed at schools with funds of $10 billion or more, would have affected Yale only.