This bill proposes to amend current Arizona statutes regarding individual income tax by including provisions for human embryo adoption. Specifically, it adds language to allow for a subtraction from Arizona gross income for unreimbursed medical and hospital costs, adoption counseling, legal and agency fees, and other nonrecurring costs of adoption, explicitly including human embryo adoption. The current law allows these subtractions only for costs incurred in prior years and limits the subtraction to the year when the final adoption order is granted. The bill modifies this by stating that for human embryo adoptions, the subtraction can be taken in the year when the legal transfer of the embryo to the adopting parent occurs.

Additionally, the bill introduces a new title for the act, designating it as the "Investing in Life Act." This change aims to reflect the updated provisions and the inclusion of human embryo adoption in the tax code, thereby expanding the benefits available to adoptive parents in Arizona.

Statutes affected:
Introduced Version: 43-1022