Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 13, 2020 |
referred to budget and revenue |
Senate Bill S8186
2019-2020 Legislative Session
Sponsored By
(D, WF) 47th Senate District
Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D) Senate District
(D) Senate District
(D, WF) 31st Senate District
(D, IP, WF) Senate District
2019-S8186 (ACTIVE) - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2019-S8186 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8186 SPONSOR: HOYLMAN TITLE OF BILL: An act to amend the tax law, in relation to establishing a COVID-19 convalescent plasma donation tax credit SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill amends section 606 of the Tax Law by creating a new subsection (kkk) entitled "COVID-19 Convalescent Plasma Donation Credit." The new subsection (kkk) provides a refundable New York State personal income tax credit for tax year 2020 of $1,000 for individuals who have recovered from COVID-19 and donate their blood plasma for the purposes of medical research and/or the treatment of patients who are currently suffering from COVID-19. Section 2 of the bill is the effective date. JUSTIFICATION:
2019-S8186 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8186 I N S E N A T E April 13, 2020 ___________ Introduced by Sen. HOYLMAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to establishing a COVID-19 convalescent plasma donation tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (kkk) to read as follows: (KKK) COVID-19 CONVALESCENT PLASMA DONATION CREDIT. (1) A TAXPAYER WHO DONATES COVID-19 CONVALESCENT PLASMA TO A CLINICAL LABORATORY OR BLOOD BANK THAT HAS BEEN ISSUED A VALID PERMIT AS PROVIDED IN SECTION FIVE HUNDRED SEVENTY-FIVE OF THE PUBLIC HEALTH LAW FOR THE PURPOSES OF MEDICAL RESEARCH AND/OR THE TREATMENT OF PATIENTS WITH COVID-19 SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR BEGINNING JANUARY FIRST, TWO THOUSAND TWENTY. THE AMOUNT OF SUCH CREDIT SHALL BE ONE THOUSAND DOLLARS. FOR THE PURPOSES OF THIS SUBSECTION, "COVID-19 CONVALESCENT PLASMA" MEANS BLOOD PLASMA COLLECTED FROM AN INDIVIDUAL WHO HAS CONTRACTED AND RECOVERED FROM COVID-19. (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON. (3) THE COMMISSIONER MAY REQUIRE A QUALIFIED TAXPAYER TO FURNISH PROOF OF HIS OR HER DONATION OF COVID-19 CONVALESCENT PLASMA IN SUPPORT OF HIS OR HER CLAIM FOR CREDIT UNDER THIS SUBSECTION. § 2. This act shall take effect immediately and shall apply to the taxable year beginning on January 1, 2020. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16085-01-0
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