Bill creates tax credit for employer-hosted blood drives
Mike Seals - May 26, 2021 10:49 pm
OKLAHOMA CITY – Legislation was signed into law Tuesday to incentivize Oklahoma businesses to host blood drives for their employees. Senate Bill 905’s author, Sen. David Bullard, R-Durant, said the new law will help boost critically low blood supplies by providing more opportunities for citizens to donate.
“Having continual blood drives is crucial to maintaining our state’s blood reserves and ensuring Oklahomans have life-saving blood in times of need,” Bullard said. “By providing a tax credit, we’re hopeful that more businesses will host blood drives for their employees, making the process more accessible and convenient and, ultimately, increasing the state’s supply. I want to thank the Oklahoma Blood Institute for bringing this idea to the legislature’s attention and helping get it to the governor’s desk. Lives will be saved because of this new law.”
Under SB 905, employers who host a blood drive by an Oklahoma nonprofit blood donation organization at their business will receive a $20 income tax credit for each verified employee donation. The blood drive cannot be open to non-employees. Effective for tax years 2022 through 2027, total credits are capped at $500,000 per year.
Rep. Dean Davis, R-Broken Arrow, is the principal House author of the measure.
“Senate Bill 905 encourages Oklahoma employers to sponsor blood drives and employees to donate to this worthwhile cause,” said Davis. “Currently, blood donation organizations need as many qualified donors as they can get. This is a need that won’t ever go away, and incentivizing donation could help save a life.”
SB 905 was requested by the Oklahoma Blood Institute (OBI) to reach more potential blood donors.
“This legislation promises to make a major impact on blood donations in our state, a critical part of our health care system and disaster preparedness,” said Dr. John Armitage, OBI president and CEO. “We’re thankful to Senator Bullard and Representative Davis for their support as we work to provide the strongest blood supply possible for our communities.”
The bill will go into effect November 1, 2021.