Bill > S01853

This bill amends New York state tax law to provide a tax deduction of up to $1,000 for fertility preservation services, specifically focusing on the cost of collecting, freezing, preserving, and storing ova (eggs). By adding this deduction to section 612 of the tax law, the bill allows taxpayers to reduce their taxable income by the amount spent on these services, up to $1,000, when calculating their state income taxes. The definition of "fertility preservation services" is narrowly defined to include only the process of collecting and storing eggs, which could be beneficial for individuals who want to preserve their fertility for medical reasons such as before undergoing medical treatments that might impact reproductive capabilities or for those who wish to delay childbearing. The bill is set to take effect immediately and will apply to taxable years beginning on or after January 1, 2025, giving taxpayers a new financial option to support their reproductive health planning.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S1853