Bill
Bill > S02287
NY S02287
NY S02287Provides for a deduction against personal gross income in an amount equal to fees, costs and expenses paid or incurred including legal fees and agency costs in connection with the adoption of a child.
summary
Introduced
01/16/2025
01/16/2025
In Committee
01/16/2025
01/16/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to providing for a deduction from personal gross income for expenses incurred in the adoption of a child
AI Summary
This bill proposes to amend the New York State tax law by adding a new tax deduction for individuals who incur expenses related to child adoption. Specifically, taxpayers will be able to deduct the full amount of adoption-related expenses from their personal gross income, including adoption agency fees, medical fees, legal fees, court costs, and any other expenses directly associated with adopting a child during a given taxable year. This deduction aims to provide financial relief to families pursuing adoption by reducing their taxable income, potentially making the adoption process more affordable. The bill will take effect immediately and will apply to all taxable years beginning on or after January 1st of the year in which the law is enacted, ensuring that taxpayers can benefit from this deduction for future adoptions.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/16/2025)
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.nysenate.gov/legislation/bills/2025/S2287 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S02287&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S02287 |
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