The 1986 Tax Reform Act lowered the maximum annual contribution to $7,000, from $30,000.

The bill, which now goes before the Senate Appropriations Committee, also cuts maximum contributions to state or county political parties from $25,000 to $15,000.

The bill would gradually increase, over three years, the maximum annual contribution to individual retirement accounts, to $5,000 from $2,000.

The national committee of each major party has given its candidate the maximum legal contribution - $700,000.

The maximum annual individual contribution is $2500.

To account for inflation, the law also permits increases in the maximum annual contributions to 457 plans.

Mayor Bloomberg also made maximum contributions to each of their re-election campaigns.

It also raised the maximum annual contribution to $2,000 and allowed participants to contribute $250 on behalf of a nonworking spouse.

A second restriction was imposed limiting the maximum annual contribution into a pension scheme.

In the contract, the archdiocese agreed to increase its maximum annual contribution to the teachers' annuity plans.