Bill No. 844, known as the Safeguarding Endowment Gifts Act, establishes regulations for charitable organizations regarding the management of restricted endowment funds. The bill defines key terms such as "charitable organization," "donor," "donor-imposed restriction," and "endowment agreement," and prohibits organizations from using funds in a manner inconsistent with any restrictions imposed by donors. It allows donors to file complaints if their restrictions are violated, requiring them to notify the charitable organization and the Office of the Attorney General at least 90 days prior to filing. The bill also outlines the process for filing complaints and the remedies available if a violation is found.

Additionally, the act clarifies that charitable organizations must notify donors within six months if they are unable to fulfill the terms of an endowment agreement and must offer alternative solutions. It allows organizations to seek judicial declarations regarding their rights and duties under endowment agreements. Importantly, the act does not affect the authority of the Attorney General to enforce restrictions or alter existing laws governing the management of endowment funds. The act is set to take effect on November 1, 2026.