“To amend the Internal Revenue Code of 1986 to provide an income tax credit for fertility treatments.”
No CRS summary available for this bill.
This section establishes a new nonrefundable tax credit under new IRC §23A for assisted reproductive technology (ART) expenses paid or incurred by an eligible individual (i.e., the taxpayer, spouse, or dependent), up to $20,000 ($40,000 for joint returns or surviving spouses). The credit phases out ratably for adjusted gross income over $200,000 ($400,000 joint, determined without regard to foreign earned income exclusions), denies double benefits for reimbursed or deducted expenses, and allows carryforward of unused amounts for up to five years on a first-in, first-out basis. ART has the meaning provided in the Fertility Clinic Success Rate and Certification Act of 1992 (i.e., procedures to achieve pregnancy when conception is infeasible, such as in vitro fertilization). The credit applies to taxable years beginning after enactment.