- Introduced -
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