ATHENS, Ohio -- A piece of legislation that, if passed, will have a major impact on private giving to higher education -- known as the CARE Act -- could be considered on the floor of the United States Senate as early as next week. A show of support from Ohio University alumni and friends, as well as faculty and staff, will make a difference.

The legislation, which will make it possible for individuals to donate their IRAs to charity, includes a permanent IRA rollover starting at age 59 for planned gifts and starting at age 70 for direct or outright gifts. The legislation also includes the non-itemizer deduction for gifts between $250 and $500 for individuals ($500 and $1000 for couples).

With state funding for higher education on the decline, the private gifts that will be made possible by this legislation have become increasingly important to educational institutions. Projections indicate that more than $2.5 trillion is currently held in IRAs. The Council for the Advancement and Support of Education (CASE) estimates that as much as $2.25 billion in new private support could come to education if this legislation is passed.

"Many Ohio University alumni have approached us about making a charitable gift using their IRAs, but currently it's not an attractive option because the tax consequences are just too severe," said Vice President for University Advancement Leonard Raley. "We're proud of the leadership Ohio Senator Mike DeWine and other U.S. Senators have provided to the CARE Act. I encourage alumni and friends of the University to show their support for the legislation. If passed, it will offer an attractive giving vehicle through which they can make a difference in the life of Ohio University."

Professional organizations, such as CASE, are working to bring attention to the importance of this federal legislation and make the Senate aware of the strong support for the CARE Act to higher education. CASE is asking that individuals contact their Senators by phone and ask them to co-sponsor the bill and to support cloture to end debate, if necessary. Several Senators have already co-sponsored the CARE Act, so it is only necessary ask them to support cloture.

Current CARE Act Co-Sponsors:

Sen. DeWine, Ohio Sen. Allard, Colorado Sen. Bayh, Indiana Sen. Brownback, Kansas Sen. Bunning, Kentucky Sen. Cochran, Mississippi Sen. Domenici, New Mexico Sen. Frist, Tennessee Sen. Grassley, Iowa Sen. Hatch, Utah

Sen. Landrieu, Louisiana Sen. Lieberman, Connecticut Sen. Lugar, Indiana Sen. Miller, Georgia Sen. Nelson, Florida Sen. Santorum, Pennsylvania Sen. Sessions, Alabama Sen. Smith, Oregon Sen. Talent, Missouri

This matter is time-critical in Congress. If you support this measure, we encourage you to take action and to make contact in the next few days.

For a list of Senators with contact information, please go to www.senate.gov/general/ contact_information/senators_cfm.cfm