HB1962
Income tax, state; creates nonfamily adoption tax credit.
Summary
As Introduced. Income tax; nonfamily adoption tax credit.
Creates the nonfamily adoption tax credit as a $4,000 nonrefundable tax credit for taxable years 2025 through 2029 for an individual or married persons who, during the taxable year, finalize a legal nonfamily adoption as defined in the bill. The bill limits the aggregate amount of credits allowable to $5 ... (More) million per taxable year with credits allocated by the Department of Taxation on a first-come, first-served basis. (Less)-
Bill History
- 01/06/2025 - House: Prefiled and ordered printed; Offered 01-13-2025 25102547D
- 01/06/2025 - House: Referred to Committee on Finance
- 01/20/2025 - House: Impact statement from TAX (HB1962)
- 01/24/2025 - House: Assigned Finance sub: Subcommittee #2
- 01/25/2025 - House: Placed on Finance Agenda
- 01/28/2025 - House: Subcommittee recommends laying on the table (5-Y 2-N)
- 02/04/2025 - House: Left in Finance
