Software billionaire Lawrence Ellison is giving $200 million to the University of Southern California for a cancer-research center. Financial planning guru Ric Edelman pledged $25 million to Rowan University for expanding a marine fossil park. Private-jet mogul Kenn Ricci bestowed $5 million on Notre Dame’s marching band.

As these 2016 commitments attest, the super-rich often slim their tax bills by swelling the coffers of their alma maters through donations for pet projects. Now, under a tax overhaul in Washington, the tax benefits of such gifts could be curtailed. That prospect is alarming the ranks of the .01 percent and their favorite charities.

The Republican-controlled Congress will soon be considering a plan that would require a quarter of gifts to the wealthiest colleges be used for middle-class financial aid. Otherwise, the donations wouldn’t be fully deductible, and the schools risk their charitable status.

Through his tax proposal, U.S. Representative Tom Reed, a Western New York Republican and vice chair of President-elect Donald Trump’s transition team, is taking aim at the richest schools. The plan would apply to the roughly 100 colleges with endowments exceeding $1 billion. Reed wants to make sure those institutions, where annual costs can top $60,000, offer steep discounts to families with annual incomes of $24,000 to $145,000.

“I understand donors’ intent, trying to control where money goes,” said Reed, who also wants to increase the deduction for gifts providing middle-class tuition aid. “At the same time, we have a college cost crisis. In order to get through the crisis, these are the hard decisions we have to make.”

If Reed had his way, the cancer-research gift from Ellison -- the Oracle Corp. co-founder whose children graduated from USC -- wouldn’t have been fully deductible. USC, in Los Angeles, has a $4.6 billion endowment.

“This kind of restriction will not address the cost of higher education,” said USC President C.L. Max Nikias.

Some worry the approach will shortchange other urgent needs. Andrew Bursky, founder and managing partner of Atlas Holdings, an industrial company, and his wife have, in fact, given toward financial aid to Washington University in St. Louis, their alma mater.

Recently, though, they pledged $10 million for cancer and auto-immune research. Without the tax break, he might have given $6 million, his cost for the donation.

“Let’s not dis-incentivize those who are prepared to give. I’d hate to sacrifice, in my case, medical research that holds the promise of dramatically changing the human condition,” said Bursky, a trustee of Washington University, which has a $6.5 billion endowment. “Unintended consequences can be severe.”

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