The bill proposes a gross income tax deduction for New Jersey residents who incur expenses related to in vitro fertilization (IVF) treatment. Specifically, it allows taxpayers to deduct 50 percent of the amount paid for IVF costs during the taxable year for themselves or their spouse or domestic partner, provided these costs are not covered by certain health insurance plans and are not otherwise deductible from gross income. The bill defines in vitro fertilization as all medical and laboratory procedures necessary to create a human embryo outside the body.

This legislation aims to alleviate the financial burden of IVF treatment for those who do not have insurance coverage for these expenses and who face out-of-pocket costs that are not eligible for other deductions. The bill is designed to take effect immediately and will apply to taxable years beginning on or after January 1 of the year following its enactment.