H.R. 8913 would change the definition of “student” for purposes of determining whether a postsecondary institution is subject to the excise tax that applies to net investment income earned on endowment assets. Under current law, that tax applies to institutions with endowment assets of $500,000 or more per student. The number of students is the daily average number of full-time students, with part-time students considered on a full-time-equivalent basis. H.R. 8913 would specify that the accounting include only those students who are U.S. citizens, permanent residents, or able to provide evidence of being in the country with the intention of becoming a citizen or permanent resident.