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

HF 3069 imposes a tax on the growth of assets at large Minnesota colleges and universities meeting specific criteria. It applies to institutions with over $100 million in assets, at least 500 tuition-paying students (with over half from Minnesota), and taxes asset growth exceeding $75,000 per student at tiered rates (15% to 25%). Revenues from this tax flow into a new "higher education assets growth account" within the state treasury, which funds the state grant program for higher education. The tax targets increases in endowment-like assets, not existing assets, and begins for taxable years after December 2025.