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SENATE FLOOR VERSION
March 1, 2021
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 905 By: Bullard and Bergstrom of
the Senate
and
Davis of the House
An Act relating to income tax credit; crea ting income
tax credit for certain employers ; defining terms;
providing for specified amount of credit for employer
for verified blood donation by employees under
certain conditions; providing that credit is
nonrefundable; imposing cap on credits; prescrib ing
formula for adjustment to credit amounts ; authorizing
rulemaking by Oklahoma Tax Commission; providing for
codification; and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF TH E STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codif ied
in the Oklahoma Statutes as Section 2357.406 of Title 68, unless
there is created a duplication in numb ering, reads as follows:
A. As used in this section:
1. “Blood donation” means the voluntary and uncomp ensated
donation of whole blood, or specific components of blood, by an
employee, drawn for use by a nonprofit blood bank organization as
part of a blood drive;
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2. “Blood drive” means a function held at a specific date and
time which is organized by a non profit blood bank organization in
coordination with an employer or group of employers and is closed to
nonemployees;
3. “Employee” means an individual employed by an employer
authorized to claim a credit pursuant to this section;
4. “Employer” means a sole proprietor, general partnership,
limited partnership, limited liability company, corporation or other
legally recognized business entity; and
5. “Verified donation” means a blood donation by an employee,
made during a blood drive as defined in paragrap h 2 of this
subsection, which can be documen ted by an employer.
B. For tax years 2022 through 2027, an employer shall be
allowed a credit against the tax imposed pursuant to Sec tion 2355 or
2355.1P-4 of Title 68 of the Oklahoma Statutes, for each verified
donation of blood made by an employee as pa rt of a blood drive by an
Oklahoma nonprofit blood donation organization.
C. The credit authorized by subsection B of this section sh all
be equal to Twenty Dollars ($20.00) for each verified donation.
D. The credit authorized by this section shall not be used to
reduce the tax liability of the taxpayer to less than zero (0).
E. The total amount of credits authorized by this section us ed
to offset tax shall be adjusted annually to limit the annual amount
of credits to Five Hundred Thousand Dollars ( $500,000.00). The
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Oklahoma Tax Commission shall annually calculate and publish a
percentage by which the credits authorized by this section shall be
reduced so the total amount of credits used to offset tax does not
exceed Five Hundred Thousand Dollars ( $500,000.00) per year. The
formula to be used for the percentage adjustment shall be Five
Hundred Thousand Dollars ( $500,000.00) divided by the credits
claimed in the second preceding year.
F. The Oklahoma Tax Commiss ion may determine, by rule,
documentation required to implement this section.
SECTION 2. This act shall become effective November 1, 2021.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
March 1, 2021 - DO PASS AS AMENDED