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April 20, 2017

Daily News Roundup: Conn. Charities Could Lose Sales-Tax Exemption

Conn. Lawmakers Mull Ending Nonprofit Break on Sales Tax: Facing a $3 billion budget deficit over the next two years, state legislators are weighing a repeal of charities' exemption from paying the 6.35 percent tax on purchases of goods and services, reports the CT Mirror. The move would cost Connecticut nonprofits more than $200 million a year.

Opinion: Disease Charity Gives PR Cover to Price-Hiking Drug Firm: The Wilson Disease Association, a tiny charity that represents patients with the rare disorder, accepted a $100,000 donation from Valeant and has refrained from publicly criticizing the company for massively increasing the price of the Wilson-disease drug Syprine, Bloomberg View columnist Joe Nocera writes.

Gates Foundation Joins Big Pharma in Push on Tropical Illnesses: The grant maker, which has put $1 billion into eradicating neglected tropical diseases that infect some 1.5 billion people worldwide, pledged an additional $335 million over four years, Reuters reports. GlaxoSmithKline, Novartis, and Sanofi are also major donors to the World Health Organization effort.

Supreme Court Appears to Back Mo. Church Seeking State Money: The closely watched case involves a Lutheran church that sued Missouri after being denied funding under a state program to help nonprofits renovate playgrounds, Reuters writes. Two liberal justices as well as the court's conservative majority signaled support for the church in questioning during oral arguments Wednesday.

1950s Stock Bequest Keeps Giving for Southern Colleges: Berry College, William & Mary, and other institutions in Georgia and Virginia get millions of dollars a year — and a hedge against fluctuations in their endowment returns — from 67 million Coca-Cola shares left to them by Lettie Pate Evans, a wealthy Coke bottler, and held in trust by her foundation, Bloomberg writes.

$25 Million Gift Aims to Make Study Abroad Universal at Maine College: The donation by investor and Colby College alumnus Andrew Davis will support a program to make all students at the liberal-arts institution in Waterville, Me., financially eligible to have an international experience during their undergraduate years, reports The Boston Globe.