February 18, 2025
Mr. Mackenzie introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to increase the amount of the adoption credit and to establish the in vitro fertilization expenses credit.
Section 1. Increase in adoption credit amount
(a) In general
(1) Increase in credit for adoption of child with special needs
Section 23(a)(3) of the Internal Revenue Code of 1986 is amended—
(A)
in the heading, by striking $10,000
and inserting $25,000
, and
(B)
by striking $10,000
and inserting $25,000
.
(2) Increase in maximum credit amount
Section 23(b)(1) of such Code is amended by striking $10,000
and inserting $25,000
.
(b) Change in base year for inflation adjustment
Section 23(h) of such Code is amended to read as follows:
(h) Adjustments for inflation
(1) In general
In the case of a taxable year beginning after December 31, 2025, each of the dollar amounts in subsection (a)(3) and paragraphs (1) and (2)(A)(i) of subsection (b) shall be increased by an amount equal to—
(A)
such dollar amount, multiplied by
(B)
The cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting
calendar year 2024forcalendar year 2016in subparagraph (A)(ii) thereof.(2) Rounding
If any amount as increased under paragraph (1)is not a multiple of $10, such amount shall be rounded to the nearest multiple of $10.
(3) Special rule for income limitation
In the case of the dollar amount in subsection (b)(2)(A)(i), paragraph (1) shall be applied—
(A)
by substituting
2002for2024in the matter preceding subparagraph (A), and(B)
by substituting
calendar year 2001forcalendar year 2023in subparagraph (B) thereof.
(c) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.
Sec. 2. In vitro fertilization expenses credit
(a) In general
Part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25E the following new section:
25F. In vitro fertilization expenses
(a) Credit allowed
In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter the amount of the qualified in vitro fertilization expenses paid or incurred by the taxpayer during the taxable year.
(b) Qualified in vitro fertilization expenses
For purposes of this section, the term
qualified in vitro fertilization expensesmeans amounts paid or incurred for medical care (as defined in section 213(d)) relating to in vitro fertilization for the taxpayer (or the taxpayer’s spouse, in the case of a joint return).(c) No double benefit
Any qualified in vitro fertilization expense which would (but for this subsection) be taken into account for purposes of any deduction (or any credit other than the credit allowed under this section) shall be reduced by the amount of the credit allowed under subsection (a) with respect to such expense.
(b) Clerical amendment
The table of sections for Part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25E the following new item:
(c) Effective date
The amendments made by this shall apply to amounts paid or incurred after the date of the enactment of this section.