Assembly Bill A10696

2023-2024 Legislative Session

Creates an in vitro fertilization treatment tax credit

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2023-A10696 (ACTIVE) - Details

See Senate Version of this Bill:
S9888
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

2023-A10696 (ACTIVE) - Summary

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.

2023-A10696 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10696
 
                           I N  A S S E M B L Y
 
                              August 28, 2024
                                ___________
 
 Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Ra) -- read
   once and referred to the Committee on Ways and Means
 
 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:

   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (qqq) to read as follows:
   (QQQ)  IN  VITRO  FERTILIZATION  TREATMENT  TAX CREDIT. (1) A RESIDENT
 TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE FOR UP TO THREE CYCLES OF IN VITRO  FERTILIZATION  TREATMENT  IN  AN
 AMOUNT EQUALING SEVENTY-FIVE PERCENT OF THE EXPENSES RELATED TO IN VITRO
 FERTILIZATION  TREATMENT  FOR  INFERTILITY NOT COVERED BY INSURANCE PAID
 DURING THE TAXABLE YEAR OR TEN THOUSAND DOLLARS, WHICHEVER IS  LESS.  IF
 THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXABLE
 YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE
 TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORD-
 ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
 CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (2)  FOR  THE PURPOSES OF THIS SUBSECTION, THE TERM "CYCLE" SHALL HAVE
 THE SAME MEANING AS DEFINED BY SUBPARAGRAPH (G) OF  PARAGRAPH  THREE  OF
 SUBSECTION  (S)  OF  SECTION  FOUR  THOUSAND  THREE HUNDRED THREE OF THE
 INSURANCE LAW.
   § 2. This act shall take effect immediately, and shall apply to  taxa-
 ble years beginning on and after January 1, 2025.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15974-01-4

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.