The National Committee for Responsive Philanthropy (NCRP) released a study on the impact pending legislation could have on grant amounts awarded by private foundations. The study, titled A Billion Here, A Billion There: The Empirical Data Add Up is available in PDF format on the NCRP website. A press release summarizes their findings. Based on IRS data, the study predicts the impact of Section 105 of H.R. 7, the Charitable Giving Act of 2003, would increase annual grants by $3.2 billion. The Act excludes administrative costs from the annual 5% required foundation payout. The Council on Foundations opposes the measure, saying it could force some foundations out of business. The bill is currently assigned to the House Ways and Means Committee, but no date is set for action.