TITLE 63

REVENUE AND TAXATION

CHAPTER 30

INCOME TAX

63-3029K.  Tax credit for live organ donation expenses. (1) As used in this section:

(a)  "Human organ" means human bone marrow or any part of a human including the intestine, kidney, liver, lung or pancreas.

(b)  "Live organ donation" means that an individual who is living donates one (1) or more of that individual’s human organs to another human to be transplanted using a medical procedure to the body of the other human.

(c)  "Live organ donation expenses" means the total amount of expenses incurred by a taxpayer that are not reimbursed to that taxpayer by any person, are directly related to a live organ donation by the taxpayer or another individual that the taxpayer is allowed to claim as a dependent in accordance with section 151 of the Internal Revenue Code and include travel, lodging or lost wages as defined by rule by the state tax commission.

(2)  For taxable years beginning on or after January 1, 2007, a taxpayer may claim a nonrefundable credit against taxes imposed by this chapter for live organ donation expenses incurred during the taxable year for which the live organ donation occurs in an amount equal to the lesser of the actual amount of the live organ donation expenses or five thousand dollars ($5,000).

(3)  If the amount of a tax credit under this section exceeds a taxpayer’s tax liability under this chapter for a taxable year, the amount of the tax credit that exceeds the taxpayer’s income tax liability may be carried forward for a period that does not exceed the next five (5) taxable years.

History:

[63-3029K, added 2006, ch. 312, sec. 1, p. 968.]