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NY A10696
Bill
Status
Introduced
8/28/2024
Primary Sponsor
Edward Ra
Click for details
AI Summary
- Allows resident taxpayers a credit against state tax for up to three cycles of in vitro fertilization treatment for infertility
- Credit equals 75 percent of IVF treatment expenses not covered by insurance, up to a maximum of $10,000 per year
- If the credit exceeds the taxpayer's tax liability for the year, the excess is treated as an overpayment and refunded without interest
- Defines "cycle" according to the definition in Insurance Law Section 4303(s)(3)(G)
- Effective immediately and applies to taxable years beginning on or after January 1, 2025
Legislative Description
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.
Last Action
referred to ways and means
8/28/2024
Committee Referrals
Ways and Means8/28/2024
Full Bill Text
No bill text available