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Bill

Bill

S 49

Expel Illegal Chinese Police Act of 2025

119th Congress Introduced by Tom Cotton and 1 co-sponsor

Bill S 49 raises the tax credit cap for contributions to the SUNY Impact Foundation to $20 million, boosting funding for SUNY programs, scholarships, and resources.

Introduced in Senate
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Bill Summary · S 49

Summary of Bill S 49

Bill Overview

  • Bill Number: S 49
  • Title: Increases the cap on the credit for contributions to certain funds for contributions to the SUNY Impact Foundation to twenty million dollars
  • Status: Referred to Finance
  • Introduced Date: January 08, 2025
  • Classification: Bill

Purpose and Intent

The primary purpose of Bill S 49 is to increase the financial cap on tax credits available for contributions made to the SUNY Impact Foundation. This change aims to encourage more substantial private donations to support the foundation's initiatives, which are focused on enhancing the educational and operational capabilities of the State University of New York (SUNY) system.

Key Provisions

  • Increased Cap on Tax Credits: The bill proposes to raise the existing cap on tax credits for contributions to the SUNY Impact Foundation from its current limit to twenty million dollars. This adjustment is intended to incentivize larger contributions from individuals and businesses, thereby increasing the financial resources available to the foundation.

Affected Parties

  • Contributors: Individuals and businesses that contribute to the SUNY Impact Foundation will benefit from the increased tax credit cap, potentially leading to greater tax savings.
  • SUNY Impact Foundation: The foundation itself will likely see an increase in funding, which can be utilized for various educational programs, scholarships, and operational improvements within the SUNY system.
  • SUNY Students and Faculty: Enhanced funding may lead to improved resources, facilities, and educational opportunities for students and faculty within the SUNY system.

Procedural Aspects

  • Current Status: As of January 08, 2025, the bill has been referred to the Finance Committee for further consideration. This step is crucial for evaluating the financial implications and potential impacts of the proposed changes.
  • Related Legislation: Bill S 49 has a companion bill, A 9037, which may provide additional context or support for the proposed changes in the Assembly.

Conclusion

Bill S 49 seeks to bolster the financial support for the SUNY Impact Foundation by increasing the cap on tax credits for contributions. This legislative change is aimed at fostering greater private investment in the SUNY system, ultimately benefiting students, faculty, and the broader educational community in New York. As the bill progresses through the legislative process, its implications for funding and educational enhancement will be closely monitored.

Compiled from official sources — confirm details with the bill’s official record.

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