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SB 1229 - This act requires applications for the adoption tax credit be filed between July 1st and April 15th of each year. The act repeals the requirement that the director of the department of revenue submit an annual report to the general assembly on the income levels of taxpayers claiming the adoption tax credit. The act creates the "Children in Crisis" tax credit equal to fifty percent of an approved contribution to CASA, child advocacy centers, or crisis care nurseries. The children in crisis tax credit is non-refundable, but may be carried forward for up to five consecutive years. The children in crisis tax credit has a cumulative cap equal to the unclaimed portion of the resident adoption tax credit. The amount of remaining credits under the resident adoption tax credit program shall be divided equally among contributions to the three agencies eligible under the children in crisis tax credit. In the event the children in crisis tax credits do not use all of the remaining tax credits under the resident adoption tax credit program, the remaining amount shall be used for non-resident adoption tax credits. JASON ZAMKUS
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