Oklahoma has become the first state in the country to pass legislation to encourage blood donations through business tax policy.
Governor Kevin Stitt signed the bill into law on Wednesday.
The bill encourages businesses to host blood drives in exchange for tax relief. Businesses who host a blood drive by an Oklahoma nonprofit blood donation will receive a $20 income tax credit for each verified blood donation made by their employees. The drive can’t open to non-employees.
“Senate Bill 905 is a national model for how public-private partnership can improve our blood supply, improve patient care and strengthen communities,” said Dr. John Armitage, president and CEO of Oklahoma Blood Institute. “We’re thankful to Senator Bullard, Representative Davis, and Governor Stitt for their support of blood donation and for making this legislation a reality. We are pleased that Wisconsin has already passed similar legislation, adopting the model created here in Oklahoma. Hopefully other states will follow.”
The bill will go into effect on November 1 and will be effective for tax years 2022 through 2027, total credits are capped at $500,000 per year.
To learn more about hosting blood drives or how to make individual blood donations, visit obi.org or call 877-340-8777.
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