summary
Introduced
05/25/2023
05/25/2023
In Committee
05/25/2023
05/25/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to provide for a refundable adoption tax credit.
AI Summary
This bill, the Adoption Tax Credit Refundability Act of 2023, amends the Internal Revenue Code to make the existing adoption tax credit refundable. This means that if the credit amount exceeds the taxpayer's tax liability, they can receive the difference as a refund, rather than just being able to carry the excess forward. The bill also requires the IRS to provide a standardized third-party affidavit to verify legal adoptions, including those involving children with special needs. These changes will apply to taxable years beginning after December 31, 2023, and the bill includes a transitional rule to treat any existing carryforward of the adoption tax credit as a refundable credit in the first year the new provisions take effect.
Committee Categories
Budget and Finance
Sponsors (28)
Danny Davis (D)*,
Don Bacon (R),
Don Beyer (D),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Brendan Boyle (D),
Shontel Brown (D),
André Carson (D),
Gerry Connolly (D),
Angie Craig (D),
Randy Feenstra (R),
Brian Fitzpatrick (R),
Sheila Jackson-Lee (D),
Sydney Kamlager-Dove (D),
Andy Kim (D),
Ann Kuster (D),
Barbara Lee (D),
Stephen Lynch (D),
Seth Magaziner (D),
Marc Molinaro (R),
Blake Moore (R),
Gwen Moore (D),
Eleanor Holmes Norton (D),
Chellie Pingree (D),
Katie Porter (D),
Mary Gay Scanlon (D),
Lloyd Smucker (R),
Pete Stauber (R),
Last Action
Referred to the House Committee on Ways and Means. (on 05/25/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/3662/all-info |
| BillText | https://www.congress.gov/118/bills/hr3662/BILLS-118hr3662ih.pdf |
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