New bill would give tax credit for plasma donation

State Senator Brad Hoylman

By Maria Rocha-Buschel

State Senator Brad Hoylman introduced legislation last Tuesday to create a COVID-19 Convalescent Plasma Donation Credit, which 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 treatment and medical research of the disease. The bill would take effect immediately and apply to the taxable year that began this January 1.

“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.”

The legislation would amend New York State’s tax law to create a new tax credit for those who have recovered from the illness and donate their blood plasma, either for the purposes of medical research or treatment of patients who are still suffering from COVID-19.

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Rental assistance program announced

By Maria Rocha-Buschel

Management announced at the end of March that residents who are experiencing financial hardship due to COVID-19 can apply for assistance through a new program, although residents will still ultimately be required to pay all rent that is due.

The C19 Resident Financial Hardship Assistance Program provides options to leaseholders who have a demonstrated financial hardship as a result of the virus, which includes a loss of income or extraordinary expense due to COVID-19. Leaseholders who are in good standing who can demonstrate financial hardship can apply for assistance, but at least half of the leaseholders in the apartment must be experiencing hardship to be eligible for the program.

The program has multiple options for those who are able to provide proof of financial hardship, including a payment plan and early lease termination. Under the payment plan, residents can defer up to 100% of one month’s rent and will enter a payment plan that will have the deferred rent paid in equal installments every month until the lease ends.

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