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ENGROSSED HOUSE AMENDME NTS
TO
ENGROSSED SENATE BILL NO . 905 By: Bullard and Bergstrom of
the Senate
and
Davis and McCall of the
House
An Act relating to income tax credit; creating 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; prescribing
formula for adjustment to credit amounts; authorizing
rulemaking by Oklahoma Tax Commission; providing for
codification; and providing an effective date.
AUTHORS: Add the following House Coauthor s: Townley, Pae, Roberts
(Dustin), Cornwell, Mize, Boles, Marti, McDugle, Dollens,
Fetgatter
AMENDMENT NO. 1. Page 1, Lines 7 through 11, strike the title to
read:
"[ income tax credit – providing for specified amount
of credit for employer for verified blood donation
by employees under certain conditions – effective
date ]"
AMENDMENT NO. 2. Page 1, Line 14 , strike the enacting clause
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Passed the House of Representatives the 22nd day of April, 2021.
Presiding Officer of the House of
Representatives
Passed the Senate the ____ day of __________, 2021.
Presiding Officer of the Senate
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ENGROSSED SENATE
BILL NO. 905 By: Bullard and Bergstrom of
the Senate
and
Davis and McCall of the
House
An Act relating to income tax credit; creating 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; prescribing
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 THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2357.406 of Title 68, unless
there is created a duplication in numbering, reads as follows:
A. As used in this section:
1. “Blood donation” means the voluntary and uncompensated
donation of whole blood, or specific components of blood, by an
employee, drawn for use by a nonprofit blood bank or ganization as
part of a blood drive;
2. “Blood drive” means a function held at a specific date and
time which is organized by a nonprofit blood bank organization in
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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 paragraph 2 of this
subsection, which can be documented by an employer.
B. For tax years 2022 through 2027, an employer shall be
allowed a credit against the tax imposed pursuant to Section 2355 or
2355.1P-4 of Title 68 of the Oklahoma Statutes, for each verified
donation of blood made by an employee as part of a blood drive by an
Oklahoma nonprofit blood donation organization.
C. The credit authorized by subsection B of this section shall
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 used
to offset tax shall be adjusted annually to limit the annual amount
of credits to Five Hundred Thousand Dollars ($500,000.00). The
Oklahoma Tax Commission shall annually calculate and publish a
percentage by which the credits authorized by this section shall be
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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 F ive
Hundred Thousand Dollars ($500,000.00) divided by the credits
claimed in the second preceding year.
F. The Oklahoma Tax Commission may determine, by rule,
documentation required to implement this section.
SECTION 2. This act shall bec ome effective November 1, 2021.
Passed the Senate the 8th day of March, 2021.
Presiding Officer of the Senate
Passed the House of Representatives the ____ day of __________,
2021.
Presiding Officer of the House
of Representatives