SB 3 – Allows the full amount of adoption tax credites to be issued regardless of whether the adoption is an in-state or out-of-state adoption

• Sponsor: Loudon
• LR Number: 0413S.04P
• Committee: Ways & Means
• Last Action: 5/13/2005 - S Informal Calendar S Bills for Third Reading
• Title: SCS SB 3
• Calendar Position: 1
• Effective Date: Emergency Clause

Current Bill Summary

SCS/SB 3 - This act places a cap on the cumulative amount of tax credits claimed in any one fiscal of four million dollars. The credit allowable for nonrecurring adoption expenses will be reduced to the same degree the federal adoption tax credit is reduced by the income limit set forth in federal adoption tax credit law.

This act contains an emergency clause and is similar to SB 500 (2003) and SB 806 (2004).

JASON ZAMKUS