The COVID-19 Crisis: Senator Hoylman New “COVID-19 Convalescent Plasma Donation Credit” Legislation

Today, Senator Brad Hoylman announced legislation to create the COVID-19 Convalescent Plasma Donation Credit. The proposal would create a refundable New York State personal income tax credit of $1,000 for individuals who recovered from COVID-19 and donated their blood plasma for COVID-19 treatment and medical research.

Senator Hoylman said: “The COVID-19 pandemic is the worst public health crisis to hit New York in more than a century—New Yorkers who survived the virus have a major role to play in our fight to find treatments and a cure.

I’m proud to introduce this legislation, which would create first-of-its-kind benefits for New Yorkers who volunteer to donate blood plasma after recovering from this disease. As we race to conduct research and find a cure for COVID-19, New Yorkers who donate blood plasma deserve our thanks.”

Senator Hoylman’s legislation would amend New York State tax law to create a new $1,000 tax credit for New Yorkers who have recovered from COVID-19 and donate their blood plasma, either for the purposes of medical research or for the treatment of patients currently suffering from COVID-19. The bill would take effect immediately and apply to the taxable year that began on January 1, 2020.

Blood plasma from individuals who have survived COVID-19 can be used for short-term treatment of the virus and longer-term research to find a cure. The FDA has already announced it is exploring using passive immunization, a technique in which plasma is transfused from an individual who has survived an infection (and therefore developed antibodies against it) to an infected patient.

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Due to the serious nature of many COVID-19 cases, this experimental treatment is already being offered to patients with serious or immediately life-threatening infections.

Given convalescent plasma’s potentially life-saving qualities, New York should be encouraging as many COVID-19 survivors as possible to donate in the midst of this epidemic.

The COVID-19 Convalescent Plasma Donation Credit will encourage plasma donations and thank those who have donated for their service to our communities.

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