Bill > HB810

This bill creates a $4,000 nonrefundable tax credit for taxable years 2024 through 2028 for individuals or married couples who finalize a legal "nonfamily adoption," which means the adoption of a child by a taxpayer who is not the father, mother, or stepparent of the child. The credit can only be claimed by one individual or married couple per adopted child, and the amount that can be claimed in any single taxable year is limited to the taxpayer's liability for that year. If the credit amount exceeds the taxpayer's tax liability in the year the adoption occurred, the excess can be carried over for credit against the taxpayer's income taxes in the next three taxable years or until the total credit amount has been used, whichever comes first. The Tax Commissioner is required to develop guidelines for claiming the credit, which are exempt from the Administrative Process Act.