Senate Bill 687 proposes the creation of a nonrefundable income tax credit for unreimbursed medical expenses related to in vitro fertilization (IVF). This credit, which is capped at $5,000 per tax year, is available to individuals or their spouses who incur expenses for consultations, procedures, and prescribed drugs associated with IVF. To qualify for the credit, the claimant's adjusted gross income must not exceed $100,000 for single or married filing separately, or $200,000 for married couples filing jointly. The bill explicitly states that expenses for insurance coverage, travel, mileage, lodging, or amounts paid through health savings accounts or similar programs are not eligible for the credit.

The bill introduces new sections to the statutes, specifically 71.07 (12) and 71.10 (4) (gt), detailing the definition of a claimant, the filing process, limitations on the credit, and administrative guidelines for the Department of Revenue. Notably, claimants cannot claim the same expenses under this new credit that they may claim under existing provisions for the same tax year. The Department of Revenue is tasked with providing suitable forms and instructions for claimants to facilitate the claiming process.