Income tax credit; providing credit for certain purchases of naloxone. Effective date.
Impact
The implementation of SB386 will result in changes to state tax laws, particularly where it introduces new provisions regarding tax credits related to the purchasing of naloxone. By incentivizing the acquisition of naloxone, the bill is expected to increase its availability in commercial settings, which could fortify the state's response to the growing opioid crisis. Moreover, by amending the Good Samaritan Act, the legislation enhances protections for individuals aiding those experiencing drug overdoses, thus encouraging more bystanders to intervene in emergencies without fear of legal repercussions.
Summary
Senate Bill 386, introduced by Senator Rader and Representative Echols, aims to promote public health by providing an income tax credit for the purchase of naloxone, a life-saving drug used to reverse opioid overdoses. Effective from tax year 2024, the bill allows establishments open to the public to claim a credit equal to the purchase price of naloxone doses, limited to two doses per establishment annually. This initiative is intended to encourage businesses to have naloxone on hand, thereby potentially reducing the number of fatalities related to opioid overdoses in the state.
Sentiment
Overall, the sentiment surrounding SB386 is largely positive, with strong support from public health advocates and community organizations concerned about the opioid epidemic. Supporters argue that the availability of naloxone is crucial in saving lives, especially in emergency situations. However, there is some contention regarding the fiscal implications of the tax credit in terms of the state's budget and whether it could result in unintended consequences in the long run.
Contention
Despite the supportive sentiment, the bill is not without its critics. Some opponents express concerns regarding the adequacy of funding for the tax credit and the practicalities of implementation. There are discussions about whether businesses will adequately use the credit and whether they will have the necessary training to administer naloxone in emergencies. Furthermore, critics question if increasing naloxone availability may inadvertently lead to riskier behaviors regarding drug use, as the potential for safety nets might be assumed.
Income tax credit; employer tax credit for purchase of employee disability insurance; providing amount of credit; prohibiting reduction of income tax to less than zero. Effective date.