New York Senate Bill S01853

New York 2025-2026 Regular Session

• Introduced: 1/14/25
• Refer: 1/14/25
• Refer: 1/7/26

Caption

Provides a tax deduction for fertility preservation services in an amount up to $1,000.

Summary

Bill S01853 proposes an amendment to the New York tax law, specifically section 612, to allow a tax deduction for fertility preservation services. This deduction would cover costs up to $1,000 for services that include collecting, freezing, preserving, and storing ova. The bill aims to provide financial relief to individuals seeking to preserve their fertility, which can be a significant expense for many.

Impact

If enacted, this bill would create a new tax deduction that could potentially affect the financial planning of individuals considering fertility preservation. It would specifically benefit those who incur costs related to these services, thus encouraging more individuals to consider fertility preservation options. The amendment would also necessitate updates to tax filing procedures to accommodate the new deduction.

Sentiment

The sentiment surrounding Bill S01853 appears to be generally positive, as it addresses a growing concern regarding fertility preservation and the associated costs. However, there may be discussions regarding the implications of tax deductions on state revenue, which could lead to mixed feelings among lawmakers and constituents.

Contention

Notable points of contention may arise regarding the fiscal impact of the proposed tax deduction on state revenues. Some lawmakers may argue that while the deduction supports individuals in need of fertility services, it could also reduce the state's tax income. Additionally, there may be debates on whether the deduction should be limited to certain income brackets or available to all taxpayers.