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Senate Bill S5262

2025-2026 Legislative Session

Creates an in vitro fertilization treatment tax credit

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Current Bill Status - In Senate Committee Budget And Revenue Committee

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2025-S5262 (ACTIVE) - Details

See Assembly Version of this Bill:
A3051
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2023-2024 Legislative Session:
S9888, A10696

2025-S5262 (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.

2025-S5262 (ACTIVE) - Sponsor Memo

2025-S5262 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5262
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             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:
 
   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, 2026.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05904-01-5

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