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  • NJ A393
  • Extends gross income tax medical expense deduction to certain cord blood banking services.
Introduced
(1/27/2016)
In Committee
(11/14/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill extends New Jersey's gross income tax medical expense deduction to certain cord blood banking services. The purpose of the bill is to decrease the cost of cord blood banking for New Jersey gross income taxpayers and encourage the proliferation of cord blood banking service providers in New Jersey. Generally, New Jersey's medical expense deduction tracks the federal income tax deduction for determining what constitutes a qualified medical expense. There are indications from the federal Internal Revenue Service that cord blood banking service expenses, outside of the treatment of existing or imminent medical conditions, do not qualify as a deductible medical expense. This bill extends New Jersey's gross income tax deduction for medical expenses to cover cord blood banking service costs, whether undertaken as a precaution or for immediate use. More specifically, the bill makes costs paid by the taxpayer for the collection and storage of umbilical cord blood from a cord associated with the biological offspring of the taxpayer or the taxpayer's dependent a qualified medical expense. The bill requires that the collection and storage services must be performed by a qualified provider in compliance with the Department of Health's collection protocol for cord blood servicers.
Women and Children
Reported and Referred to Assembly Appropriations Committee  (on 11/14/2016)
 
 
Date Chamber Action Description
11/14/2016 A Reported and Referred to Assembly Appropriations Committee
11/14/2016 Assembly Women and Children Hearing (10:00 11/14/2016 Committee Room 9, 3rd Floor)
1/27/2016 A Introduced, Referred to Assembly Women and Children Committee
Date Motion Yea Nay Other
Detail 11/14/2016 Assembly Women and Children Committee: Reported Favorably 6 0 0