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Refundable Tax Credit Established for In Vitro Fertilization Expenses.

This bill creates a new refundable tax credit designed to help families manage the high costs associated with in vitro fertilization (IVF) treatments. Citizens incurring these expenses can recover a portion of the costs through a tax refund, significantly easing the financial burden of infertility treatment. The maximum lifetime credit available to a taxpayer is set at $30,000.
Key points
Establishes a new refundable tax credit specifically for qualified in vitro fertilization (IVF) expenses.
The maximum total credit an individual can claim over their lifetime is limited to $30,000.
Expenses claimed under this credit cannot be simultaneously used for other tax deductions or credits.
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Additional Information
Print number: 118_HR_9479
Sponsor: Rep. Miller-Meeks, Mariannette [R-IA-1]
Process start date: 2024-09-06