Last action was on 4-10-2025
Current status is Referred to the House Committee on Ways and Means.
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This Act may be cited as the "Family Cord Blood Banking Act".
(a) In general - Section 213(d)(1) of the Internal Revenue Code of 1986 is amended by striking "or" at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting ", or", and by inserting after subparagraph (D) the following new subparagraph:
(E) - for private umbilical cord blood, or umbilical cord tissue, banking services provided by any accredited bank which is in compliance with the regulations under section 361 of the Public Health Service Act (42 U.S.C. 264).
(b) Effective date - The amendments made by this section shall apply to taxable years beginning after December 31, 2024.