H.R.1035 - Federal Government - To amend the Internal Revenue Code of 1986 to provide a nonrefundable personal credit to individuals who donate certain life-saving organs.

To amend the Internal Revenue Code of 1986 to provide a nonrefundable personal credit to individuals who donate certain life-saving organs. 2/13/2007--Introduced. Living Organ Donor Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow a nonrefundable tax credit for a donation of a qualified life-saving organ for transplantation by a living individual into another individual. Defines "qualified life-saving organ" as a kidney, liver, lung, pancreas, intestine, bone marrow, or any part thereof. Limits the annual amount of such credit to $5,000 of the unreimbursed costs and lost wages incurred by an organ donor in connection with an organ transplant.Amends: (1) the Public Health Service Act to reduce federal living organ donation grants by any tax credit for organ donation received under this Act; and (2) the National Organ Transplant Act to provide that any such tax credit shall not be deemed valuable consideration for purposes of the ban against [...]

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