Establish a refundable credit for expenses incurred for in vitro fertilization.

Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 36B the following new section:

In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle an amount equal to so much of the qualified in vitro fertilization expenses of the individual for the taxable year as do not exceed the excess (if any) of—

(1) $30,000, over

(2) the aggregate amount allowed as a credit to the taxpayer under this section for all prior taxable years.

For purposes of this section, the term qualified in vitro fertilization expenses means 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).

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.

(1) Section 6211(b)(4)(A) of the Internal Revenue Code of 1986 is amended by inserting, 36C after 36B.

(2) Section 1324(b)(2) of title 31, United States Code, is amended by inserting, 36C after, 36B.

(3) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item:

The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act.