Bill > S881

This bill, the Family Act of 2013, amends the Internal Revenue Code to create a new tax credit for individuals undergoing infertility treatments. Specifically, it allows a credit for 50% of qualified infertility treatment expenses, with a maximum credit of $12,970 for taxable years beginning in 2013. The bill defines "qualified infertility treatment expenses" as costs associated with in vitro fertilization (IVF) provided by a licensed medical practitioner in the United States, following a diagnosis of infertility by a U.S.-licensed physician. It also includes provisions for fertility preservation procedures undertaken before medical treatments that may cause infertility, and establishes income limitations, known as a phase-out, where the credit is reduced for taxpayers with higher adjusted gross incomes. The bill also prevents double-dipping by disallowing the credit if the expenses are already covered by insurance or other government programs, and allows for unused credit amounts to be carried forward for up to five years.