Provides a credit against estate tax for organ donors

3 Co-sponsors

• Craig M. Johnson
• George Onorato
• Kevin S. Parker

Title of bill

An act to amend the tax law, in relation to providing a credit against estate tax for organ donors

Purpose or general idea of bill

To provide an Estate Tax Credit of $1,000 for those who donate organs.

Summary of specific provisions

The tax law is amended by adding a new section §952-a to read as follows: §952-a. Credit for organ donors. A credit shall be allowed against the tax imposed under subsection (a) of §952 of this article for $1,000 when the decedent executed an anatomical gift of all or part of his or her body.

Justification

At the end of 1995, 44,057 people were awaiting organ donation in the United states. In 1994 only about 5,000 people donated organs, resulting in the deaths of 3,072 critically ill people. In New York, 4,118 people are currently in need of organ donation. Thus, if a $1,000 estate tax credit for organ donors acts as a catalyst for even a few more people to donate their organs, then the credit will effectively save lives that otherwise would be lost. Those who have received transplants will be able to enter/return to careers, increasing income tax revenues.

Prior legislative history

1996 - A.227 Referred to Ways & Means 1997 - A.227 Referred to Ways & Means 1998 - A.227 Amended and Recommit to Ways & Means 1999 - A.2327 Referred to Ways and Means 2001-02 - A.307 Held for Consideration in Ways and Means 2003-04 - A.684 Referred to Ways and Means 2005-06 - A.6202 Referred to Ways and Means

Fiscal implications

By saving lives, this estate tax credit will increase funds from income taxes and reduce medical costs to society without significantly reducing the estate tax base.

Effective date

Immediately.