Amounts paid for private umbilical cord blood, or umbilical cord tissue, banking services treated as medical care expenses

(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.