OK
Oklahoma Senate Bill SB905

Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB905 Compare Versions

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4-An Act
5-ENROLLED SENATE
6-BILL NO. 905 By: Bullard and Bergstrom of
28+ENGROSSED HOUSE AMENDME NTS
29+ TO
30+ENGROSSED SENATE BILL NO . 905 By: Bullard and Bergstrom of
731 the Senate
832
933 and
1034
11- Davis, McCall, Townley,
12-Pae, Roberts (Dustin),
13-Cornwell, Mize, Boles,
14-Marti, McDugle, Dollens,
15-Fetgatter and Martinez of
16-the House
35+ Davis and McCall of the
36+House
37+
1738
1839
1940
2041
2142 An Act relating to income tax credit; creating income
2243 tax credit for certain employers; defining terms;
2344 providing for specified amount of credit for employer
2445 for verified blood donation by employees under
2546 certain conditions; providing that credit is
2647 nonrefundable; imposing cap on credits; prescribing
2748 formula for adjustment to credit amounts; authorizing
2849 rulemaking by Oklahoma Tax Commission; providing for
2950 codification; and providing an effective date.
3051
3152
3253
3354
3455
35-SUBJECT: Income tax credit
56+AUTHORS: Add the following House Coauthor s: Townley, Pae, Roberts
57+(Dustin), Cornwell, Mize, Boles, Marti, McDugle, Dollens,
58+Fetgatter
3659
37-BE IT ENACTED BY THE PEOPLE OF TH E STATE OF OKLAHOMA:
38-
39-SECTION 1. NEW LAW A new section of law to be codif ied
40-in the Oklahoma Statutes as Section 2357.406 of Title 68, unless
41-there is created a duplication in numb ering, reads as follows:
42-
43-A. As used in this section:
44-
45-1. “Blood donation” means the voluntary and uncomp ensated
46-donation of whole blood, or specific components of blood, by an
47-
48-ENR. S. B. NO. 905 Page 2
49-employee, drawn for use by a nonprofit blood bank organization as
50-part of a blood drive;
51-
52-2. “Blood drive” means a function held at a specific date and
53-time which is organized by a non profit blood bank organization in
54-coordination with an employer or group of employers and is closed to
55-nonemployees;
56-
57-3. “Employee” means an individual employed by an employer
58-authorized to claim a credit pursuant to this sectio n;
59-
60-4. “Employer” means a sole proprietor, general partnership,
61-limited partnership, limited liability company, corpor ation or other
62-legally recognized business entity; and
63-
64-5. “Verified donation” means a blood donation by an employee,
65-made during a blood drive as defined in paragrap h 2 of this
66-subsection, which can be documen ted by an employer.
67-
68-B. For tax years 2022 thr ough 2027, an employer shall be
69-allowed a credit against the tax imposed pursuant to Sec tion 2355 or
70-2355.1P-4 of Title 68 of the Oklah oma Statutes, for each verified
71-donation of blood made by an employee as pa rt of a blood drive by an
72-Oklahoma nonprofit b lood donation organization.
73-
74-C. The credit authorized by subsection B of this section sh all
75-be equal to Twenty Dollars ($20.00) for ea ch verified donation.
76-
77-D. The credit authorized by this section shall not be used to
78-reduce the tax liability of the taxpa yer to less than zero (0).
79-
80-E. The total amount of credits authorized by this section us ed
81-to offset tax shall be adjusted annually to limit the annual amount
82-of credits to Five Hundred Thousand Dollars ( $500,000.00). The
83-Oklahoma Tax Commission shall ann ually calculate and publish a
84-percentage by which the credits authorized by this section shall be
85-reduced so the total amount of cre dits used to offset tax does not
86-exceed Five Hundred Thousand Dollars ( $500,000.00) per year. The
87-formula to be used for th e percentage adjustment shall be Five
88-Hundred Thousand Dollars ( $500,000.00) divided by the credits
89-claimed in the second preceding year.
60+AMENDMENT NO. 1. Page 1, Lines 7 through 11, strike the title to
61+read:
9062
9163
92-ENR. S. B. NO. 905 Page 3
93-F. The Oklahoma Tax Commiss ion may determine, by rule,
94-documentation required to implement this section.
95-
96-SECTION 2. This act shall become effective November 1, 2021.
64+"[ income tax credit – providing for specified amount
65+of credit for employer for verified blood donation
66+by employees under certain conditions – effective
67+date ]"
9768
9869
99-ENR. S. B. NO. 905 Page 4
100-Passed the Senate the 19th day of May, 2021.
70+AMENDMENT NO. 2. Page 1, Line 14 , strike the enacting clause
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97+Passed the House of Representatives the 22nd day of April, 2021.
98+
99+
100+
101+
102+
103+Presiding Officer of the House of
104+ Representatives
105+
106+
107+Passed the Senate the ____ day of __________, 2021.
108+
109+
101110
102111
103112
104113 Presiding Officer of the Senate
105114
106115
107-Passed the House of Representatives the 20th day of May, 2021.
116+ENGR. S. B. NO. 905 Page 1 1
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141+ENGROSSED SENATE
142+BILL NO. 905 By: Bullard and Bergstrom of
143+the Senate
144+
145+ and
146+
147+ Davis and McCall of the
148+House
149+
150+
151+
152+
153+An Act relating to income tax credit; creating income
154+tax credit for certain employers; defining terms;
155+providing for specified amount of credit for employer
156+for verified blood donation by employees under
157+certain conditions; providing that credit is
158+nonrefundable; imposing cap on credits; prescribing
159+formula for adjustment to credit amounts; authorizing
160+rulemaking by Oklahoma Tax Commission; providing for
161+codification; and providing an effective date.
162+
163+
164+
165+
166+
167+BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
168+SECTION 1. NEW LAW A new section of law to be codified
169+in the Oklahoma Statutes as Section 2357.406 of Title 68, unless
170+there is created a duplication in numbering, reads as follows:
171+A. As used in this section:
172+1. “Blood donation” means the voluntary and uncompensated
173+donation of whole blood, or specific components of blood, by an
174+employee, drawn for use by a nonprofit blood bank or ganization as
175+part of a blood drive;
176+2. “Blood drive” means a function held at a specific date and
177+time which is organized by a nonprofit blood bank organization in
178+
179+ENGR. S. B. NO. 905 Page 2 1
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204+coordination with an employer or group of employers and is closed to
205+nonemployees;
206+3. “Employee” means an individual employed by an employer
207+authorized to claim a credit pursuant to this section;
208+4. “Employer” means a sole proprietor, general partnership,
209+limited partnership, limited liability company, corporation or other
210+legally recognized business entity; and
211+5. “Verified donation” means a blood donation by an employee,
212+made during a blood drive as defined in paragraph 2 of this
213+subsection, which can be documented by an employer.
214+B. For tax years 2022 through 2027, an employer shall be
215+allowed a credit against the tax imposed pursuant to Section 2355 or
216+2355.1P-4 of Title 68 of the Oklahoma Statutes, for each verified
217+donation of blood made by an employee as part of a blood drive by an
218+Oklahoma nonprofit blood donation organization.
219+C. The credit authorized by subsection B of this section shall
220+be equal to Twenty Dollars ($20.00) for each verified donation.
221+D. The credit authorized by this section shall not be used to
222+reduce the tax liability of the taxpayer to less than zero (0).
223+E. The total amount of credits authorized by this section used
224+to offset tax shall be adjusted annually to limit the annual amount
225+of credits to Five Hundred Thousand Dollars ($500,000.00). The
226+Oklahoma Tax Commission shall annually calculate and publish a
227+percentage by which the credits authorized by this section shall be
228+
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254+reduced so the total amount of credits used to offset tax does not
255+exceed Five Hundred Thousand Dollars ($500,000.00) per year. The
256+formula to be used for the percentage adjustment shall be F ive
257+Hundred Thousand Dollars ($500,000.00) divided by the credits
258+claimed in the second preceding year.
259+F. The Oklahoma Tax Commission may determine, by rule,
260+documentation required to implement this section.
261+SECTION 2. This act shall bec ome effective November 1, 2021.
262+Passed the Senate the 8th day of March, 2021.
263+
264+
265+
266+ Presiding Officer of the Senate
267+
268+
269+Passed the House of Representatives the ____ day of __________,
270+2021.
108271
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111274 Presiding Officer of the House
112275 of Representatives
113276
114-OFFICE OF THE GOVERNOR
115-Received by the Office of the Governor this _______ _____________
116-day of _________________ __, 20_______, at _______ o'clock _______ M.
117-By: _______________________________ __
118-Approved by the Governor of the State of Oklahoma this _____ ____
119-day of _________________ __, 20_______, at _______ o'clock _______ M.
120277
121- _________________________________
122- Governor of the State of Oklahoma
123-
124-
125-OFFICE OF THE SECRETARY OF STATE
126-Received by the Office of the Secretary of State this _______ ___
127-day of __________________, 20 _______, at _______ o'clock _______ M.
128-By: _______________________________ __