Increases the cap on the credit for contributions to the SUNY Impact Foundation from ten million dollars to twenty million dollars.
New York State Senate Bill S00049 amends the state finance law to increase the annual cap on the tax credit for contributions to the SUNY Impact Foundation from ten million dollars to twenty million dollars. This change aims to accommodate more donors and support educational programs, scholarships, research, and other institutional improvements. The bill also includes reporting requirements for the SUNY system to detail the total charitable contributions, their breakdown by institution, the use of such funds, and their impact on educational resources and scholarships.
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