Bill > S04183

This bill establishes a personal income tax credit of five hundred dollars for New York state taxpayers who donate blood at least four times in a single year to a qualified blood bank. A blood bank is specifically defined as a facility that collects, processes, stores, and/or distributes human blood or blood components. To claim the credit, taxpayers must donate to a blood bank with a valid permit under section five hundred seventy-five of the public health law. If the credit amount exceeds the taxpayer's annual tax liability, the excess will be treated as an overpayment and can be credited or refunded without additional interest. The tax commissioner may require documentation proving the blood donations to support the credit claim. The bill will take effect immediately and apply to taxable years beginning on or after January 1, 2027, providing an incentive for New York residents to regularly donate blood and support the state's blood supply.