New York S 5262: Creates an in vitro fertilization treatment tax credit

Bill Text

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S05262 Summary:

BILL NOS05262 

&nbsp

SAME ASSAME AS A03051

&nbsp

SPONSORASHBY

&nbsp

COSPNSRRHOADS, SALAZAR, WEBER

&nbsp

MLTSPNSR

&nbsp

Amd §606, Tax L

&nbsp

Creates an in vitro fertilization treatment tax credit for up to three cycles of in vitro fertilization treatment for expenses related to treatment for infertility.

Go to top S05262 Actions:

BILL NOS05262 

&nbsp

02/20/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS05262 Committee&nbspVotes:

Go to topS05262 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05262 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5262

 2025-2026 Regular Sessions

 IN SENATE

 February 20, 2025
 ___________

 Introduced by Sens. ASHBY, RHOADS, WEBER -- read twice and ordered
 printed, and when printed to be committed to the Committee on Budget
 and Revenue

 AN ACT to amend the tax law, in relation to creating an in vitro ferti-
 lization treatment tax credit

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (qqq) to read as follows:
 3 (qqq) In vitro fertilization treatment tax credit. (1) A resident
 4 taxpayer shall be allowed a credit against the tax imposed by this arti-
 5 cle for up to three cycles of in vitro fertilization treatment in an
 6 amount equaling seventy-five percent of the expenses related to in vitro
 7 fertilization treatment for infertility not covered by insurance paid
 8 during the taxable year or ten thousand dollars, whichever is less. If
 9 the amount of the credit allowable under this subsection for any taxable
 10 year shall exceed the taxpayer's tax for such year, the excess shall be
 11 treated as an overpayment of tax to be credited or refunded in accord-
 12 ance with the provisions of section six hundred eighty-six of this arti-
 13 cle, provided, however, that no interest shall be paid thereon.
 14 (2) For the purposes of this subsection, the term "cycle" shall have
 15 the same meaning as defined by subparagraph (G) of paragraph three of
 16 subsection (s) of section four thousand three hundred three of the
 17 insurance law.
 18 § 2. This act shall take effect immediately, and shall apply to taxa-
 19 ble years beginning on and after January 1, 2026.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05904-01-5

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