This bill amends Section 63-3022I of the Idaho Code to expand the current tax deductions available for adoptive parents to include expenses related to embryos. Specifically, it allows for the deduction of legal fees and medical expenses associated with the acquisition and transfer of a donated embryo that results in a live birth. The deduction is capped at $10,000 for legal and medical costs incurred during the adoption process or the actual costs incurred, whichever is less, and it excludes travel costs.

Additionally, the bill stipulates that the deduction for embryo-related expenses can be claimed in the tax year when the live birth occurs, and it permits the deduction of any related legal fees and medical expenses incurred in the three years prior to the live birth. The bill declares an emergency, making it effective immediately upon passage and retroactively applicable to January 1, 2025.

Statutes affected:
Bill Text: 63-3022I