1. Short title This Act may be cited as the Protecting Endowments from Our Adversaries Act . 2. Excise tax on certain investments of private colleges and universities (a) In general Subchapter H of chapter 42 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 4969. Excise tax on certain investments of private colleges and universities (a) Tax on acquisition of listed investments In the case of any specified educational institution which acquires (directly or indirectly through any chain of ownership) one or more listed investments during any taxable year, there is hereby imposed for such taxable year a tax equal to 50 percent of the fair market values of such investments determined as of the dates of such acquisitions. (b) Tax on net income from 1-Year listed investments (1) In general There is hereby imposed on each specified educational institution for the taxable year a tax equal to 100 percent of the excess (if any) of— (A) the sum of— (i) all income received with respect to any 1-year listed investment during such taxable year, plus (ii) all gains recognized with respect to the sale or other disposition of any 1-year listed investments during such taxable year, over (B) the sum of— (i) all deductions properly allocable to income described in subparagraph (A)(i), plus (ii) all losses recognized with respect to the sale or other disposition of any 1-year listed investments during such taxable year. (2) 1-year listed investment For purposes of this section, the term 1-year listed investment means, as of any date, any listed investment which was a listed investment at all times during the 1-year period ending on such date. (c) Listed investment For purposes of this section— (1) In general The term listed investment means any specified interest with respect to any person listed on the listed persons list established and maintained by the Secretary under paragraph (2). (2) Listed persons list The Secretary shall establish (not later than 60 days after the date of the