New York Close to Fixing State’s Charitable Gift Annuity Glitch

July 11, 2023 by Allison Bell

New York state lawmakers have approved a bil that could help clients there make more use of charitable gift annuities.

Members of the state Assembly recently voted 145-0 to pass 02683 and send it on to Gov. Kathy Hochul for her signature. The state Senate passed the bill by a 60-1 vote in May.

The bill would change state rules, adopted in 2020, that regulate how charities in the state set charitable gift annuity payout rates.

Click HERE to read the full story via ThinkAdvisor

Originally Posted at ThinkAdvsior on July 10, 2023 by Allison Bell.