SB 585 Modifies conflicting language relating to special needs children adoption tax credits
Sponsor: Champion
LR Number: 3092S.02I Fiscal Note: 3092-02
Committee: Ways & Means
Last Action: 3/1/2006 - Removed S Consent Calendar Journal Page: S366
Title: Calendar Position:
Effective Date: August 28, 2006

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Current Bill Summary


SB 585 - This act modifies conflicting language relating to adoption tax credits. The act removes the requirement that beginning on or after July 1, 2004, a minimum of fifty percent of the tax credits allowed must be allocated for the adoption of special needs children who are residents or wards of this state at the time of adoption. The act allows the removal of the cap on non-resident adoption tax credits if less than two million dollars in tax credits have been issued for adoptions of resident special needs children. Applications for the credit may be filed between July 1st and April 15th of each fiscal year.

JASON ZAMKUS