|SB 0345||Changes to special needs adoption credits; raised to $10,000|
|Last Action:||05/15/95 - S Inf Calendar S Bills for Perfection|
|Effective Date:||August 28, 1995|
SB 345 - This act raises the credit for special needs adoptions from $5,000 to $10,000. The credit is made available to any business entity providing funds to an employee so that the employee may adopt a special needs child. Only one $10,000 credit is available between the employee and the employer.
This act prevents the taking of a state credit in addition to a federal (or local) credit. The state credit is also further reduced by the amount any other deduction under federal, state or local law reduces an individual's tax liability.
This act was incorporated into SS/SB 264. See also Truly
Agreed To CCS/SS/SCS/HS/HB 414.