Indiana AG Urges Congress to Protect Charitable Giving and Donor Privacy
Indiana Attorney General Todd Rokita has joined 13 other state attorneys general in a letter Wednesday to congressional leadership in opposition to the Accelerating Charitable Efforts (ACE) Act.
The letter reads, "Although the legislation’s goal of supporting charities and ensuring that they receive funding is laudable, the restrictions the ACE Act would place on donor-advised funds (DAFs) and private foundations would likely have the opposite effect and discourage charitable giving." It goes on to say, "As Attorneys General, we take seriously our duty to protect the privacy of our citizens and their right to give to charitable causes anonymously."
The ACE Act is S.1981 in the U.S. Senate and H.R. 6595 in the U.S. House of Representatives.
The ACE Act would revise DAFs, which are used by many donors to maximize their giving. Donations to DAFs are disbursed to the charities over time, offering an immediate tax deduction to the donor while allowing the funds to grow through investment.
DAFs have also become an important vehicle for charitable giving that protects the privacy of the donor.