Vote Smart's Synopsis:

Vote to amend and pass a bill that increases the adoption tax credit.

Highlights:

• Authorizes tax subtraction of $12,000 (previously $6,000) “if during the taxable year the taxpayer adopts a child who the State determines is a child with a special need, as described in § 473(c)(1) and (2) of the Social Security Act” (Sec. 1).

• Authorizes subtraction of $10,000 (previously $5,000) if taxpayer adopts child without special need (Sec. 1).

• Establishes effective date of July 1, 2023 (Sec. 2).

Full Bill Text