CT HB05467

Establishes a $1,500 personal income tax credit for Connecticut residents who adopt a child on or after January 1, 2020.

Credit is claimed in the first year the resident files a federal income tax return validly claiming the adopted child as a dependent.

If the credit exceeds the taxpayer's income tax liability, the Commissioner of Revenue Services shall refund the excess amount without interest.

Married individuals filing separate returns are eligible for half the credit amount ($750).

Effective July 1, 2020, and applies to taxable years commencing on or after January 1, 2020.