Bill > S09886

This bill creates an adoption tax credit in the amount of fifty percent of qualified adoption expenses, or ten thousand dollars, whichever is less. Qualified adoption expenses include reasonable and necessary adoption fees, court costs, attorneys' fees, and other expenses directly related to the legal adoption of a child. The credit can be claimed as an overpayment of tax and refunded, but no interest will be paid on the refund. The bill will take effect immediately and apply to taxable years beginning on and after January 1, 2025.