summary
Introduced
09/21/2023
09/21/2023
In Committee
09/21/2023
09/21/2023
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. The bill moves the adoption tax credit from a non-refundable credit (section 23) to a refundable credit (new section 36C), allowing taxpayers to receive the full benefit of the credit even if they do not have sufficient tax liability. The bill also allows for the use of a standardized third-party affidavit to verify legal adoptions, including those of children with special needs. The amendments made by this bill would apply to taxable years beginning after December 31, 2022, and include a transitional rule to treat any unused adoption tax credit carryforward as a refundable credit in the first year the new provisions take effect.
Committee Categories
Budget and Finance
Sponsors (31)
Bob Casey (D)*,
Marsha Blackburn (R),
Sherrod Brown (D),
Shelley Moore Capito (R),
Chris Coons (D),
Kevin Cramer (R),
Tammy Duckworth (D),
Dianne Feinstein (D),
John Fetterman (D),
Kirsten Gillibrand (D),
Josh Hawley (R),
Cindy Hyde-Smith (R),
Tim Kaine (D),
Mark Kelly (D),
Angus King (I),
Amy Klobuchar (D),
James Lankford (R),
Ben Ray Luján (D),
Jeff Merkley (D),
Jim Risch (R),
Jacky Rosen (D),
Mike Rounds (R),
Marco Rubio (R),
Tim Scott (R),
Debbie Stabenow (D),
Chris Van Hollen (D),
Mark Warner (D),
Elizabeth Warren (D),
Sheldon Whitehouse (D),
Roger Wicker (R),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (on 09/21/2023)
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/senate-bill/2895/all-info |
| BillText | https://www.congress.gov/118/bills/s2895/BILLS-118s2895is.pdf |
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