AB 547: Personal Income Tax Law: credits: in vitro fertilization.

The Personal Income Tax Law allows various credits against the taxes imposed by that law.

This bill, for each taxable year beginning on or after January 1, 2025, 2026, and before January 1, 2030, 2031, would allow a credit against the taxes imposed under that law to a qualified taxpayer, as defined, for the qualified expenses of in vitro fertilization, as defined, not to exceed $5,000 for paid or incurred during the taxable year.

Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.

This bill also would include additional information required for any bill authorizing a new tax expenditure.

This bill would take effect immediately as a tax levy.