This bill offers a tax credit to individuals who donate life-saving organs, helping cover their expenses and encouraging more donations. It aims to support living donors financially while addressing the need for organ transplants.
Living Organ Donor Tax Credit Act This bill establishes a refundable tax credit of up to $5,000 for expenses related to the removal and donation of all or part of a kidney, liver, lung, pancreas, intestine, or bone marrow by a living individual for transplant into another individual. Expenses that may be included in the calculation of this tax credit include travel, lodging, medical expenses related to donation and follow-up care, paperwork and legal costs, lost wages, and any other costs paid by the taxpayer in connection with the transplant. Expenses related to the transplant that are reimbursed by any person or entity (public or private) may not be included in the calculation of the credit amount.
1. This bill provides a tax credit for people who donate certain life-saving organs. 2. Donors can receive up to $5,000 for costs related to their organ donation. 3. Eligible expenses include travel, medical costs, and lost wages due to donation. 4. The bill only applies to living donors who donate within the United States. 5. The tax credit aims to encourage more organ donations and help donors financially.
Living organ donors and their families will benefit from this tax credit.