SB933 - Allows for tax credits and tax credit assignments in the placement and adoption of special needs children

SB 0933

Allows for tax credits and tax credit assignments in the placement and adoption of special needs children

Sponsor:	Flotron
LR Number:	S3734.04I	Fiscal Note:	3734-04
Committee:	Ways and Means
Last Action:	05/15/98 - 014 S Calendar S Bills for Perfection		Journal page:
Title:
Effective Date:	August 28, 1998

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Current Bill Summary

SB 933 - This act allows parents to make tax credit claims on their nonrecurring adoption expenses throughout the child placement/adoption process (up to a total of $10,000). Current law only allows credits in the year that the adoption becomes finalized.

The bill also allows taxpayers who receive this particular tax credit to assign the credit to the not for profit organization that was involved in the adoption proceedings. Tax credits that are assigned to not for profit organizations may be assigned in their entirety notwithstanding the taxpayer's tax due.
JOHN MESSMER