Bill > A05163

This bill amends the New York tax law to provide a tax deduction for expenses related to adopting a child from the foster care system. Specifically, taxpayers can now deduct all costs associated with such an adoption, including adoption fees, medical fees, legal fees, court costs, and any other related expenses incurred during the taxable year. The deduction is designed to provide financial relief and potentially encourage more families to adopt children from the foster care system by reducing the financial burden of adoption. The bill will take effect immediately and apply to all taxable years beginning on or after January 1st of the year in which it becomes law. By allowing these expenses to be deducted from personal gross income, the bill aims to make foster care adoption more accessible and financially feasible for potential adoptive parents.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5163