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S 49 New York Senate · 2025 Regular Session

Increases the cap on the credit for contributions to certain funds for contributions to the SUNY Impact Foundation to twenty million dollars

Summary
Increases the cap on the credit for contributions to certain funds for contributions to the SUNY Impact Foundation from ten million dollars to twenty million dollars.
Issues: ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit cap for SUNY donations, incentivizing private funding of public education, aligning with tax relief for essential programs.90% confidence ✓ EducationSupports EducationIncreases tax credit cap for SUNY Impact Foundation donations, enabling greater private funding for SUNY higher education initiatives.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 8, 2025 Last action Apr 30, 2026
Maddy AI version diff · 1 comparison

What changed between versions

S49 → S49A · 4 edits
MODERATE
This bill expands a state tax credit program for charitable donations to New York universities by raising the annual contribution cap from ten million to twenty million dollars. It specifically adds the City University of New York (CUNY) and its research foundation to the program, which previously only included the State University of New York (SUNY). The changes also update reporting requirements to ensure both university systems submit annual reports on their charitable contributions.
Scope change
The bill's scope was expanded to include the CUNY system and the City University of New York Research Foundation, whereas the original version applied only to the SUNY system.
SCOPE

Added the City University of New York (CUNY) system and the City University of New York Research Foundation to the list of eligible recipients for the charitable tax credit.

FISCAL

Increased the annual contribution cap for the program from ten million dollars to twenty million dollars to accommodate higher demand for donations.

REQUIREMENT

Added a new reporting requirement for the City University of New York to submit an annual report on charitable contributions to its research foundation, mirroring the existing requirement for SUNY.

TIMELINE

Changed the effective date of the act from a fixed date of January 1, 2026, to the first of January following the date the bill becomes law.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
4
Key actions
2
Committee
2
Amendments
2
Apr 30, 2026
Upper · Passed
PRINT NUMBER 49A
upper
Apr 30, 2026
Upper · Passed
AMEND AND RECOMMIT TO FINANCE
upper
Jan 7, 2026
Committee
REFERRED TO FINANCE
upper
Jan 8, 2025
Committee
REFERRED TO FINANCE
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Robert Jackson
Robert Jackson
DDemocratic/Working Families
NY
31