Bill > S05859

This bill establishes a personal income tax credit for New York taxpayers who donate blood to a blood bank four or more times in a year. The tax credit amount is set at $500. If the credit exceeds the taxpayer's tax liability for the year, the excess will be treated as an overpayment to be credited or refunded. The bill also allows the commissioner to require taxpayers to provide proof of their blood donations to claim the credit. The bill will take effect immediately and apply to taxable years beginning on or after January 1, 2025.