NJ A4305

Allows New Jersey resident taxpayers to deduct 50% of out-of-pocket costs paid for in vitro fertilization (IVF) treatment for themselves, their spouse, or domestic partner from gross income

Expenses must not be covered by health insurance (including hospital/medical service corporations, commercial insurers, HMOs, State Health Benefits Program, or School Employees Health Benefits Plan) to qualify for the deduction

Expenses already deductible under existing medical expense provisions (N.J.S.54A:3-3) are not eligible for this additional deduction

Defines "in vitro fertilization" as all medical and laboratory procedures required to form a human embryo outside the human body

Takes effect immediately and applies to taxable years beginning on or after January 1 following enactment